Legal Question in Insurance Law in Illinois

Auto insurance and diminished value
I was recently involved in an accident in which the other party was at fault. The other driver ran a stop sign and t-boned my car. His insurance company, through a local agent, has been fantastic about handling the claim and paying for the repair, rental car and medical bills.

The repair will be finished in about a week. The damage was about $11,000, and the agent valued the car at about $17,500. What I'm concerned about is the diminished value of the car once it's repaired. What are my rights? How do I go about valuing the diminished value of the car and being compensated? Can I simply refuse the car when it's done and be compensated for the estimated value of the car?

Thank you.

Asked on 12/08/07, 2:05 pm

Joseph Michelotti Michelotti & Associates, Ltd.

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Re: Auto insurance and diminished value

The value of the car is always depreciating. You have a far better chance of being compensated for you personal injuries.

check out my website - www.michelottilaw.com

email me if you have any questions - [email protected]

Answered on 12/16/07, 5:07 pm

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