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Vehicle Property Damage

Generally you can handle property damage without the help of an attorney.  Insurance companies typically get an appraisal of the vehicle damage and payout within a reasonable time.  Sometimes, however, the estimate for vehicle repair does not fairly compensate the vehicle owner.  For example, if a person just purchased a new Mercedes Benz, was subsequently hit by another vehicle, and the estimated repair exceeded $20,000.00, the vehicle owner would not be happy about accepting a check for just the estimated repair.  In this case, the value of the vehicle would be significantly less even if fully repaired.  Thus, they would want both the amount for the repair AND the loss in value due to the accident.  No one wants to purchase a vehicle that has been in a previous accident.  As an owner, you are required to disclose this fact if asked.  Insurance companies will not hand you over the "loss in value" without the help of an attorney.  

Posted By Park Chenaur on April 27, 2010 08:06 pm | Permalink 
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