Pennsylvania is a state with low-value laws, meaning that after a car accident, you may be entitled to have your vehicle's value diminished. In the state of Pennsylvania, you have up to two years to file a reduced value claim. It is important to be aware of the laws in your state, as they can vary. Pennsylvania does not recognize uninsured motorist claims, and the burden of proving damages is always on the plaintiff.
This can make it difficult for a jury to be persuaded that your car has lost value even after it has been repaired. Diminished value is defined as the decrease in market value of the car after an accident and any subsequent repair. The average, reasonable buyer of a car will not pay the same price for a wrecked and repaired vehicle as for one with a clean accident history, regardless of the quality of the repair. Low value claims are sometimes considered speculative.
However, drivers can determine the decline in value of a motor vehicle using expert testimony without selling or exchanging the vehicle. An expert evaluation is usually necessary to determine the values of a vehicle before and after the loss. In 1994, the Supreme Court of Pennsylvania recognized a claim for decline in value in the context of a real estate claim, which stated that if repairs do not fully compensate plaintiffs, they should receive compensation for remaining losses. The best way to prove your claim is to hire licensed, highly qualified, competent, and independent small value experts.
It is important to have an experienced legal professional who can guide you through a reliable method of calculating diminished values in Philadelphia car accidents. The immediate reduced value can be calculated as the difference between the resale value of a vehicle before the damage occurred and the resale value before repairs were made after the damage. In most cases, you must file a reduced value claim with the insurance provider of the driver responsible for the accident. When searching for reduced value calculator methods for car accidents in Philadelphia, you are likely to find lawyers and insurance providers who use the 17c approach.
This type of decrease in value usually occurs when a vehicle still has aesthetic or functional problems after being repaired. In the United States, most auto insurance providers use a diminished value calculation method known as “17c”. With regard to third-party claims, plaintiffs may recover (a) the difference between the market value of the vehicle before and after the accident or, at their choice, the reasonable cost of repair or restoration if possible, taking due account of any difference between original value and value after repairs; and (b) loss of use. No matter what type of decrease in value your vehicle has experienced, it is important to consult with an experienced accident attorney.
To recover losses, you must have a professional auto appraisal firm perform a diminished value appraisal such as Autoloss. Understand your rights with a reduced value claim to ensure that you receive what you are entitled to for your car. The statute of limitations for reduced value claims in Pennsylvania is two years from date of loss. If you were in a car accident caused by another person in Pennsylvania, you have the right to file a reduced value claim.
For example, this method of calculating reduced value counts vehicle's mileage against you twice.
