Car crash, but no personal injury?

Lucky you to escape injury. On the other hand, unlucky you if you want to find an attorney in Virginia that will take a property loss case.

If you’ve actually had this situation, and tried to find an attorney, you know from personal experience that finding is a very difficult process. You’ve probably contacted several firms that advertise their specialty for representing victims of car crashes. And each time you mention “Oh by the way, there was no personal injury”, you were quickly referred to another attorney who “might” take your case.

Look no further. Thyden, Gross & Callahan, LLP, welcomes car crash cases that do not have a personal injury aspect.

/by John Thyden

You Have 5 Years to File a Diminished Value Claim

Virginia law allows up to 5 years to bring a diminished value claim.  If you were in a car crash that was not your fault and your car was damaged and repaired within the last five years, this means you could have a valid diminished value claim.

If the crash was not your fault, your car was damaged, and you did not have a personal injury claim, it is very likely the other driver’s insurance carrier just paid for the repair. If the other driver’s insurance carrier did not send you a release for property damage, you can bring a diminished value claim against the other driver as long as you are within the 5-year statute.

Most insurance carriers whose drivers were clearly at fault just pay for the repair. This results in quicker claim resolution, less time using substitute transportation, and lower cost to the carrier. As diminished value claims increase, more insurance carriers may begin to require that releases be signed prior to authorizing repairs.

/by John Thyden

Why Is It So Hard to Find a Virginia Lawyer for a Diminished Value Claim?

When your high-value vehicle is damaged in a car accident that isn’t your fault, you have a diminished value (DV) claim. The hard part can be finding a lawyer to take on your case.

If you are Virginia driver involved in a crash that caused personal injury (PI), you will have a choice of firms to handle your PI claim. Unfortunately, few will handle the diminished value (DV) claim for your car.

While a Google search will turn up several law firms that will take on PI cases, I have heard from my clients that those same firms will not take on a DV claim.

Why is it so hard to find a lawyer in Virginia for a Diminished Value claim? There are not many Virginia lawyers who are comfortable with DV cases. One DV expert reports that there are only two law firms licensed to handle these cases in Virginia.

If you have a case, you need to get informed advice quickly, so you take the proper steps to establish a claim. The good news is that John Thyden at Thyden Gross and Callhan focuses his practice on DV claims. We will represent you even if there was no personal injury involved. Give him a call today!

/by John Thyden

Your Car Is Worth Less After an Accident

A car that has been damaged in an accident and repaired is worth less than an identical car that has not been damaged. In the law, this is called diminished value and can be a cause for legal action.

Determining Diminished Value

Arriving at a vehicle’s pre-crash fair market value doesn’t require much knowledge or skill. Online services like Edmunds make it easy to determine a car’s value based on a number of parameters.

Determining the post-accident value of your car requires some professional expertise. A qualified appraiser can help. Arriving at the fair market value of a damaged and repaired vehicle requires knowledge, a vast database, and perhaps inputs from dealers and other experts.

Making Your Case

A lawyer can help you to file an action to recover the diminished value of your vehicle and some related expenses, but you have to find one who is willing to take on this type of case. Personal injury is separate from property damage and few personal injury lawyers will take a property damage case, even if it’s along with a personal injury case.

With a proper legal filing you can make a recovery for this financial loss. In addition to diminished value, you may be entitled compensation related to the temporary substitute vehicle provided while your car was in for repairs.

Legally, the insurance company for the person at fault for the accident must provide you with a temporary car that is comparable to the damaged vehicle. If the insurer refuses to provide a comparable substitute vehicle, and the trial court finds such failure to be not in good faith, the penalty is the larger of double the rental cost or $500.

A Path to Recovering Your Losses

While diminished value is not as well-known as options to recover for the property damages and personal injuries that may result from an accident, it is something every vehicle owner should understand. Recovering the diminished value of your vehicle helps ensure you are fully compensated for all losses experienced as the result of a car accident when you are not at fault.

If you think you have a case, the next step is to contact a lawyer with experience handling diminished value actions. An attorney can help you understand if you have a cause of action and the potential recovery.

Thyden Gross and Callahan has recovered diminished value for clients in Maryland and Virginia. We will represent you even if there was no personal injury involved.Contact us at 301-968-2391 so we can help you too.

/by John Thyden

Auto Accident? Think Beyond Your Damage Claim

Auto accidents bring damage. If you have been in an accident that is not your fault, you need to consider more than the cost of repairing your car and personal injury. You may also have a diminished value claim.

What Is a Diminished Value Automobile Claim?

A car that has been damaged and repaired is worth less than an identical car that has not been damaged. In fact, some consumers will not buy a repaired car at all!

A diminished value claim seeks compensation for the reduced value of your car. It is the difference in fair market value between just prior to the crash and after repair.

Who Can Claim Diminished Value?

If you are in a vehicle accident and are not at fault, you could have a diminished value case. You are not eligible if you do not own the car or if your car has been declared a total loss. And, if your car had very little value before the accident, there will likely not be any value to recover.

How Are Damages Determined?

The measure of damages for a repairable vehicle is the cost of repair plus post repair reduction in fair market value and related expenses. Repair costs plus diminished value normally cannot exceed fair market value.

What to Do Next

If you think you have a case, the next step is to contact a lawyer with experience handling diminished value actions. An attorney can help you understand if you have a cause of action and the potential recovery.

Thyden Gross and Callahan has recovered diminished value for clients in Maryland and Virginia. We will represent you even if there was no personal injury involved. Contact us at 301-968-2391 so we can help you too.

/by John Thyden

The Diminished Value of Your Car May Surprise You

Which of these cars has a higher diminished value (DV)? The answer may surprise you.

The answer is the Ferrari with a scratch on the side, for two reasons:

1) the car on the trailer will almost certainly be declared a total loss, resulting in zero DV

2) because of the Ferrari’s fair market value, ($250,000) any damage will result in substantial DV.

As an example of this, we had a recent case where a piece of black plastic was replaced on the bumper of a Rolls Royce. The verdict was $20,000.

Fundamental to establishing a DV claim is an opinion from an expert as to the amount of DV your car has suffered. Not all damaged cars qualify for bringing a DV action. A 20-year old Honda with 200,000 miles will not justify bringing suit because of the cost of litigation.

Formulating an opinion of diminished value has several elements- make, model, year, add-on equipment, amount and type of repair, damage history and mileage are the elements that go into an opinion of diminished value.

The damage shown by the repair invoice is also relevant. Was there frame damage, or was it cosmetic? Were panels replaced or repaired? Were replaced panels welded or bolted on? Did the car receive refinishing? Was body fill (Bondo) used in the repair?

The legal standard for calculating damages is the lesser of: 1) the fair market value of the car prior to the crash; or 2) or the cost of repair plus the diminished value. These are subject further to whether the cost of repair exceeds 75% of the pre-crash fair market value of the car.

If the cost of repair exceeds 75% of the value, the car will be declared a total loss, there will be no DV and the owner will be paid the car’s pre-crash fair market value.

On a related topic, the fair market value of a new car can plummet in a short time. This might result in your getting a check for less than the loan balance. To guard against this, we advise clients to consider getting gap coverage. This covers the gap between the fair market value of your car and the loan balance. It is generally only available for new cars from a dealer.

If you think you have a DV case, the next step is to contact a lawyer with experience handling diminished value actions. An attorney can help you understand if you have a cause of action and the potential recovery.

Thyden Gross and Callahan has recovered diminished value for clients in Maryland and Virginia. We will represent you even if there was no personal injury involved. Contact us at 301-968-2391 so we can help you too.

/by John Thyden