TL;DR
- - In New Jersey we secured a $3,000 diminished value settlement for a 2019 Nissan Altima after a rear-end collision with a Geico-insured driver.
- - Used cars qualify for diminished value claims, so your vehicle doesn't have to be brand new to recover loss of value.
- - Hire an expert appraiser to prepare a report and negotiate with the insurer, since an appraiser acting as your advocate can secure additional recovery.
A client in New Jersey gave us a call after she was rear-ended by a Geico insured. We wrote up a report and contacted the adjuster handling the claim. After a little back and forth the adjuster agreed that the 2019 Nissan Altima lost $3,000.00 in value as a result of the loss. No, your car does not have to be brand new to qualify for diminished value. All you need is an expert appraiser as your advocate.
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