Were you recently involved in a car accident in Baltimore, MD? Your vehicle may no longer be worth what it was before the crash, regardless of whether it’s already been fully repaired. Our Baltimore diminished value accident lawyers can tell you what you’re owed. Call WGK Personal Injury Lawyers at (410) 469-9349 for a free consultation.
Our car accident lawyers in Baltimore, MD have more than 80 years of combined experience helping accident victims pursue the full value of what they’ve lost. We’ve recovered tens of millions of dollars and know how to effectively handle insurance companies in these cases. Reach out to us when you’re ready to get started.
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How WGK Personal Injury Lawyers Can Help With Your Diminished Value Claim in Baltimore, Maryland
Insurance companies don’t make diminished value claims easy in Baltimore, Maryland. They will do whatever they can to protect their profits and minimize the amount that they owe you. Having a lawyer who thoroughly understands Maryland insurance law can make all the difference.
If you hire WGK Personal Injury Lawyers, our Baltimore diminished value accident attorneys can:
- Investigate the details of your accident and repair history
- Collect evidence to show the car’s pre-accident and post-repair market values
- Consult expert appraisers to calculate your vehicle’s true loss in value
- Handle all communications and negotiations with the insurance company
- File a lawsuit if the insurer refuses to pay a fair amount
We’ve spent decades successfully dealing with adjusters and insurance lawyers, and we know the tactics they use to underpay legitimate claims. Contact our Baltimore personal injury lawyers today to schedule a free case review.
What Is a Diminished Value Claim in Maryland?
A diminished value claim seeks compensation for the loss in market value of your vehicle after an accident, even after repairs are made. Once a car has been in a crash, it’s generally worth less than a comparable vehicle that has never been damaged.
There are three main types of diminished value claims:
- Immediate diminished value: The reduction in resale value right after an accident, before any repairs are completed
- Inherent diminished value: The most common type, which accounts for the loss in value that remains after proper repairs
- Repair-related diminished value: When the quality of the repair work or the use of aftermarket parts further reduces the vehicle’s worth
Maryland law may allow you to recover this loss if another driver’s negligence caused the crash. However, these claims must be supported with solid evidence, such as vehicle appraisals and documentation of repair estimates.
How Do I Prove Diminished Value After a Baltimore Car Accident?
Successfully proving a diminished value claim requires more than just showing that your car was in an accident. Your Baltimore car accident attorney will need to demonstrate how much less your vehicle is now worth compared to its value before the collision.
This usually involves:
- Getting a professional appraisal from a certified auto appraiser
- Collecting documentation such as repair invoices and maintenance history
- Comparing your car’s post-accident value to similar vehicles without accident history
- Submitting repair estimates and photographs showing the extent of the original damage
Insurance companies often use standardized formulas, like the “17c formula,” to calculate diminished value. However, these typically undervalue your claim. Our Baltimore car accident lawyers can help challenge these calculations and push for an amount that actually reflects your financial loss.
How Much Could My Baltimore Diminished Value Claim Be Worth?
The value of a diminished value claim in Maryland varies depending on several factors, including:
- The make and model of your vehicle
- The mileage and condition before the accident
- The severity of the damage
- The quality and completeness of the repairs
- The local resale market for your vehicle type
Generally, newer and higher-value vehicles experience the largest losses in diminished value after an accident. However, any vehicle that sustains significant damage may qualify for compensation.
How Long Do I Have to File a Diminished Value Claim in Maryland?
Under Maryland law, you typically have three years from the date of the accident to file a diminished value claim. This deadline follows the same statute of limitations that applies to most personal injury and property damage cases.
If you miss this time limit, you’ll likely lose your right to pursue compensation. It’s best to contact a lawyer as soon as possible after your accident to make sure all necessary evidence is preserved and your claim is filed on time.
Contact Our Baltimore Car Accident Lawyers About Your Diminished Value Claim
If your vehicle lost value after an accident in Baltimore, MD, WGK Personal Injury Lawyers can help you fight for the compensation you’re entitled to. We know the insurance companies’ playbook and how to push back when they undervalue your claim.
Contact our Baltimore diminished value accident lawyers today for a free consultation. We’ve recovered tens of millions for our deserving clients to date and are ready to get to work for you next.
