Legal Question in Real Estate Law in Texas

I was involved in a 5 car collision on Oct 1 2011 with a tanker truck that was issued a ticket for running a red light. At the time of the accident, my truck was only 3 months old. It cost $9,500 to fix. I hired a licensed appraiser to do a Diminished Value on my vehicle on Nov 2011 who appraised it for a total Diminished Value of $7,800. The at-fault driver�s insurance company without looking at my vehicle, since they�re not in Texas, offered me on Nov 2012 $6,450 for the Diminished Value. The adjuster delayed the offer for over a year. I�m requesting the Diminished Value done at the time of the accident and not the value done a year later, when the vehicle�s value has decreased due to the fact that it�s now over a year old vs. 3 months old. The vehicle has structural damage that the dealership cannot fix. The licensed appraiser also mentioned that the safety of the vehicle has been compromised and it�s going to be difficult to resale. I�m at a financial loss due to the fact that the vehicle cannot be repaired to pre-accident condition, so I�m requesting the full $7,800 Diminished Value. What should I do? Take the driver to court in order to get his insurance company to settle for the full $7,800? I have no medical bills.


Asked on 11/07/12, 11:08 am

1 Answer from Attorneys
Ken Gober (Austin TX) Lee, Gober & Reyna

If your vehicle was not "totaled" then you have a claim for: 1. Cost of Repair, 2. Diminished value (value of the vehicle on the day of the accident minus value of the vehicle after repair), and 3. Value for loss of use (the fair rental value of the vehicle per day/week multiplied by how long you were without the vehicle while waiting for repairs), and 4. interest at 5% from the time you made the claim until the claim is paid out.

Keep in mind, there are lots of arguments against many of the above damage elements, but if you claim them all, then you may come off better.

As always, consider consulting/retaining a local lawyer to better help you. My answer is limits to the facts you provided and is intended as a starting point rather than a step-by-step instruction.

Good Luck!

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Answered on 11/12/12, 4:29 pm


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