Were you involved in a car accident in Dundalk, MD? Even after your vehicle is fully repaired, it may be worth significantly less than it was before the crash. At WGK Personal Injury Lawyers, we help accident victims recover compensation for Dundalk diminished value accident claims. Call our Dundalk car accident lawyers at (410) 970-3080 for a free consultation to learn more.
Our firm brings over 80 years of combined experience in personal injury law and has recovered tens of millions of dollars for injured clients across Maryland. If your car was damaged in a collision that wasn’t your fault, you should not have to absorb the financial penalty.
Why Choose WGK Personal Injury Lawyers to Handle My Car Accident Claim?
Clients throughout Dundalk, Maryland, choose WGK Personal Injury Lawyers because:
- Our Dundalk personal injury attorneys have decades of combined experience handling complex car accident and property damage claims.
- Our firm has hundreds of five-star reviews on Google.
- Members of our legal team have been recognized by Super Lawyers Rising Stars, Motor Vehicle Trial Lawyers Top 25, and other respected legal organizations.
We will make sure you are not left paying for losses caused by someone else’s mistake. Get in touch with us today for a free consultation with a Dundalk car accident attorney.
An Overview of Diminished Value Claims in Maryland
After a car accident, most drivers focus on getting their vehicle repaired as quickly as possible. While repairs are important, they do not restore your car’s market value.
Once a vehicle has an accident on its history report, its resale value usually drops, even if the repairs were flawless. Buyers and dealerships are less willing to pay full price for a vehicle that has been in a collision.
In Maryland, when another driver is at fault for your collision, you may be entitled to recover this loss through a diminished value claim against their insurance company.
A diminished value claim seeks compensation for the difference between:
- What your vehicle was worth before the accident
- What it is worth after repairs, now that it has an accident history
This loss is separate from repair costs and can be substantial for newer or well-maintained vehicles.
What Property Damage Does Car Insurance Typically Cover After a Car Accident?
Maryland law requires drivers to carry property damage liability insurance to cover damage they cause to others. Many drivers also carry collision and comprehensive coverage for their own vehicles.
Property damage coverage typically pays for:
- Vehicle repairs, including parts and labor
- The fair market value of your car if it is declared a total loss
- Rental car expenses during repairs or replacement
- Damage to other vehicles or physical property involved in the crash
However, standard property damage coverage does not automatically pay for diminished value.
Even if your car is repaired perfectly, insurance companies often consider the claim fully resolved once repairs are paid. You may need to specifically demand compensation for diminished value to recover money for such a loss.
The Three Types of Diminished Value Claims
A diminished value claim compensates you for the loss in your vehicle’s market value after an accident.
There are three general types:
- Immediate diminished value: the loss in value immediately after the crash (before repairs)
- Repair-related diminished value: value lost due to poor repairs or the use of aftermarket parts
- Inherent diminished value: the reduction in value because the vehicle now has an accident history
In most cases, inherent diminished value is the basis for Maryland claims. To support a claim, you typically need proof of the vehicle’s pre-accident value, documentation of repairs, and an appraisal showing the post-repair market value. The at-fault party’s insurer may be responsible for paying this difference.
Do Insurance Companies Pay Diminished Value for Older Cars?
Insurance companies frequently argue that older vehicles are not eligible for diminished value compensation. While newer vehicles often have stronger claims, older cars can still qualify under the right circumstances.
Factors that strengthen a claim include:
- Good pre-accident condition
- Lower-than-average mileage
- Strong resale demand
- Significant structural or body damage
Maryland law does not impose a strict age limit on diminished value claims. However, proving the loss can become more challenging as vehicles age and may require legal representation to fully prove.
Contact an Experienced Dundalk Car Accident Lawyer for a Free Consultation
Diminished value claims are frequently disputed and undervalued by insurance companies. Without proper documentation, you may walk away without realizing you could recover more compensation.
An experienced Dundalk car accident lawyer can help. At WGK Personal Injury Lawyers, we handle both injury claims and property damage disputes arising from serious accidents in Dundalk. Contact us today for a free consultation to discuss your car accident claim.
