Case Study – Making a Claim for Diminished Value
CASE STUDY BY: Rob Crompton
You might not realise until you find yourself in this situation, but your car may have suffered a loss in value if it was involved in a car Accident and subsequently repaired. But why, if it was repaired to a good standard?
The truth is that when you come to sell your vehicle, it will be less desirable because of the buyer prejudice it will receive due to the sheer fact it has an accident history. If the accident wasn’t your fault, speak to our specialist Vehicle Diminution Advisors, and Oakwood Solicitors will help you to recover the money you have lost.
In 2018, Oakwood Solicitors acted for Mr E in respect of a claim for Vehicle Diminution when his Chrysler 300C SRTA motor vehicle sustained a significant amount of damage to the rear bumper, rear quarter panel and the wheel. The accident occurred when Mr E was indicating and pulling into the side of the road. Another driver lost control of their vehicle and collided with Mr E’s vehicle. Although the damage took some time to repair, Mr E got his vehicle back from the garage and was satisfied with the quality of the repair work.
After submitting the Claim to the insurers of the responsible motorist, we received no response. After allowing them an opportunity to return to us with a settlement offer for our client and receiving no reply, we instructed an independent assessor to undertake a review of the vehicle and repairing documentation.
They did so and a Diminution Report was compiled within 48 hours, detailing the level of financial loss sustained to Mr E. The report was subsequently released to the third party insurers and within six weeks of the disclosure of the engineering evidence, we had received an initial offer and then negotiated an increased settlement offer which we went on to accept.
Mr E was delighted with the speed at which the case had settled and was able to take his family away on a short break with the settlement money he received.
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