If you have ever been in a motor vehicle wreck or collision that another person caused, you not only have the right to file a compensation claim for your injuries but also for the loss of vehicle value.
At The Law Offices of Omar Khawaja, your Houston diminished value claims lawyer will have years of experience evaluating and handling these types of claims.
Motor vehicle accidents damage thousands of cars, trucks, and motorcycles every year. If you have ever been in a motor vehicle wreck or collision that another person caused, you not only have the right to file a compensation claim for your injuries but also for the loss of vehicle value. Hire a Houston diminished value claims lawyer at The Law Offices of Omar Khawaja to handle your case.
Anytime a vehicle is in an accident, it results in a permanent diminishment of value. Diminished value occurs when the structure of the vehicle is permanently changed. Even if it is repaired to good working order, it is still worth less than if the accident never happened.
At The Law Offices of Omar Khawaja, your Houston diminished value claims lawyer will have years of experience evaluating and handling these types of claims.
What factors will affect the outcome of my diminished value claim?
There are two (2) kinds of diminished value claims: first-party and third-party. First-party claims occur when you cause damage to your vehicle while third-party claims go after the at-fault driver’s insurance company. Third-party claims provide compensation for the diminished value of your car, truck, or motorcycle.
The following factors will be considered when calculating your diminished value claim:
- Motor vehicle accident history
- Previous condition of the vehicle
- Mileage and age
- Bluebook value
- And more
Every vehicle is different, and the amount of money you can get will vary according to its value and the damage it suffered. It will also vary according to the insurance adjuster’s opinion. He or she may not have all of the facts necessary to render a fact-based decision.
Instead of leaving your claim in the hands of an insurance company, hire a Houston diminished value claims lawyer from The Law Offices of Omar Khawaja. We will conduct an independent and thorough investigation to assert your rights to an award when you are not getting the money you need to get back out on the road.
What kind of diminished value claims do attorneys represent?
Texas state laws allow you to pursue a claim for the diminished value that your vehicle suffered after an accident. However, you cannot file an diminished value claim if you were the at-fault party. Your Houston diminished value claims lawyer will analyze your case’s facts and circumstances to determine the direction in which you may want to take it.
There are three (3) categories of compensation governing your claim, including:
- Repair diminished value claims: This type of claim refers to the value lost due to the inability to repair or restore the vehicle to normal. After the repairs are made, depreciation of your car will occur. Repair diminished value claims are typically reserved for high-end, rare, or foreign vehicles.
- Immediate diminished value claims: The car’s insurer provides immediate diminished value claims to make up for the difference between the vehicle’s resale value before and after the accident. This compensation is provided before the vehicle is repaired.
- Inherent diminished value claims: The most commonly awarded form of compensation for diminished value is inherent claims. It provides enough money to repair the vehicle based on the car’s resale value, which means that it is estimated based on the car’s new value.
If you were in a car, motorcycle, or truck accident and your vehicle were damaged, hire a Houston diminished value claims lawyer at the law offices of Omar Khawaja to get you the compensation you need for your losses. We can offer you legal advice while helping you recover from your accident.
What is the time limit on filing my diminished value claim?
Like a personal injury case, there are deadlines in the form of a statute of limitations that applies to diminished value cases. In Texas, you have up to two (2) years from the date of your vehicle’s damage to file a claim. If you do not file before this cutoff date, you effectively forfeit your right to file a claim.
If You Think You Missed the Diminished Value Statute of Limitations
There are exceptions to the rule, however limited they are. Even if you think that you missed your case’s statute of limitations, it is still worthwhile to speak with a Houston diminished value claims lawyer at The Law Offices of Omar Khawaja to determine if there is another course of redress available.
Why should I hire an attorney for my diminished value claim?
It is challenging to navigate a diminished value claim due to the complicated laws and requirements involved. Your Houston diminished value claims lawyer on our legal team will help you pursue the best possible outcome while answering your questions every step of the way.
When you file a diminished value claim, it is essential to also prove that your losses occurred. To qualify, you must demonstrate that your vehicle’s value diminished because of an accident, what specific amount was lost, and which insurance company should pay for these benefits. Besides hiring a Houston diminished value claims lawyer, the most valuable thing you can do is keeping a record of your case.
Retain receipts, invoices, quotes, and more. This documentation will help speak to the above-referenced list of items that you need to prove to receive benefits. Our legal team will include them in your settlement demand and handle ongoing documentation for you as well.