Legal Question in Personal Injury in Missouri
Car worth less after accident...who pays?
I was hit from behind and my new car sustained quite a bit of damage. I spoke with the dealership I purchased it from and have been informed that it is now worth about $7000 less on trade-in because of the accident. I can't afford to lose that much money on the car. Is the responsible insurance supposed to pay for the difference in values before and after their insured driver hit me from behind? I want to take it to at least 3 dealers and get a quote for trade-in value to present to the insurance company. When I brought this up, they flat out denied they had to pay anything for my new car's decreased value. They said they've won court cases but didn't tell me when/what circumstances. Please let me know why I do or do not deserve to be compensated for the loss of value on my car because of another negligent, but insured, driver.
Thank you.
2 Answers from Attorneys
Re: Car worth less after accident...who pays?
The insurance adjuster is misleading you. If he refuses to tell you what case law he is referring to, then he is simply lying and hoping for you to give up.
The law has not been thoroughly tested in Illinois. That means that in all likelihood, you will HAVE to file a lawsuit and test your theory in court and see what happens. I think you will win, but not if you take on the case without a lawyer.
Read the following websites for more information:
http://wreckcheckcarscan.gemspot.com/cgi-bin/wreckcheckcar/diminishedvalue.html
http://www.statefarm.com/media/dimvalue.htm
http://www.zalma.com/diminution.htm
I hope this helps,
Nima Taradji
Re: Car worth less after accident...who pays?
Unfortunately at this time, I am not aware of any Illinois courts forcing a diminished value upon the settlement regarding the damage to your vehicle. Other states have been presented with this issue and have succeeded. If the adjuster is referring to a recent case law that supports his positions, I would image that he would want to share that information with you. You will most likely need to retain an attorney to take the issue into court for you.
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