{"id":8306,"date":"2024-12-16T15:14:21","date_gmt":"2024-12-16T22:14:21","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/az-personal-injury\/?p=8306"},"modified":"2024-12-16T15:14:21","modified_gmt":"2024-12-16T22:14:21","slug":"diminished-value-claim-arizona","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/az-personal-injury\/es\/blog\/diminished-value-claim-arizona\/","title":{"rendered":"Diminished Value Claims in Arizona: How Do They Work?"},"content":{"rendered":"
During 2023, a total of 122,247 crashes were reported<\/a> throughout Arizona. In addition to jeopardizing lives, this abundance of crashes brought financial strife to Arizona residents. Unfortunately, even after a damaged vehicle has been repaired to meet industry standards, it can often lose resale value due to its accident history, limiting the benefits of a traditional insurance claim. Thankfully, the Arizona diminished value law can help car owners receive fair compensation for their losses.<\/p>\n After an accident, you may be able to submit a diminished value claim in Arizona to request payment for the reduced market value of a vehicle from the responsible party or their insurance company. Still, various challenges can stand in your way, ranging from proving diminished value to overcoming denials from insurance companies.<\/p>\n Sadly, car accidents can happen to anyone. So, it is important to understand how diminished value claims work in Arizona and the process of filing one. Read through the key considerations below and contact an experienced car accident lawyer in Phoenix<\/a> or whichever part of Arizona you live in to increase your chances of getting the best possible results.<\/p>\n In general, diminished value is the reduction in something\u2019s worth. When it comes to vehicles, this term is commonly used to describe a decrease in a car, motorcycle or truck\u2019s market value after an accident<\/b>.<\/p>\n Even if the vehicle is repaired to meet industry standards, making it blemishless and safe enough to drive, its accident history can still lower buyer confidence and make the car, motorcycle or truck less desirable on the market. The Arizona diminished value law aims to combat this by allowing vehicle owners\u200b\u200b to file a car accident claim in Arizona<\/a> that requests payment from the responsible party to cover the dip in market value<\/b>.<\/p>\n Reductions in value can happen in different ways. Some examples of diminished value types that can potentially warrant a diminished value claim in Arizona are:<\/p>\n You may be eligible for financial compensation under Arizona’s diminished value law if you have suffered any of the diminished value types above due to someone else\u2019s negligence. Contact a reliable personal injury attorney to explore your legal options\u2014you may also be able to recover damages for delayed pain after a car accident in Arizona<\/a>.<\/p>\n Although ARS 12-1134<\/a> already spelled out how just compensation should be handled when someone\u2019s land features a diminution in value due to governmental use, Arizona diminished value law for motor vehicles in accidents did not get fleshed out until 2011.<\/p>\n The case of Oliver v. Henry<\/i><\/a> confirmed the legality of diminished value claims in Arizona, ruling that vehicle owners could claim compensation for the loss in resale value a car can experience following an accident<\/b>, even if the vehicle has already been fully repaired.<\/p>\n Some key principles that the Court of Appeals of Arizona established for vehicle owners filing diminished value claims are:<\/p>\n To help come to its ruling, the court referenced prior cases like Farmers Ins. Co. of Arizona v. R.B.L. Inv. Co.<\/i><\/a>, 138 Ariz. 562, which supported the fact that a vehicle not yet sold does not render the damages unrealized or legally impermissible.<\/p>\n Thanks to this case, Arizona diminished value claims can be filed after repairs are completed, as long as it is evident the vehicle\u2019s market value has decreased.<\/p>\n Each situation may require a unique approach, depending on the type of diminished value your vehicle has experienced and the insurance company you are requesting payment from. However, in many scenarios, preparation for submitting a diminished value claim can start right after prioritizing everyone\u2019s health and reporting the car accident to the police<\/a>.<\/p>\n Some actions you may need to take to file a diminished value claim in Arizona are:<\/p>\n A trustworthy personal injury lawyer providing legal advice through the above process can encourage more desirable results. If you and the insurer cannot come to an agreement, you may be able to request a formal appeal through an Arizona court\u2014your lawyer can tell you what you need to know when suing after an accident<\/a>.<\/p>\n Typically, any car, motorcycle or truck owner<\/b> involved in an accident in Arizona can file a diminished value claim if their vehicle was damaged in an accident that was not their fault<\/b>. This means owned, leased and financed cars may all qualify; however, eligibility can vary depending on a lender’s or lessor’s specific policies.<\/p>\n For those who qualify, claims are usually filed through the at-fault driver\u2019s insurance company since they are normally responsible for covering damages, including indirect decreases in a vehicle\u2019s resale value following a collision. When drivers disagree about who caused the car accident, fault may be determined by the location of the damage<\/a> on the vehicle or nearby surveillance footage. Unique scenarios like accidents on private property in Arizona<\/a> can make determining fault more challenging.<\/p>\n Despite the Arizona court\u2019s clear ruling on diminished value claims, it can still be difficult for some individuals to get paid fairly. Some examples of obstacles that claimants may face when requesting compensation for diminished value are:<\/p>\n Navigating insurance practices or legal nuances can be challenging without guidance from a knowledgeable attorney. Make the process easier by relying on a personal injury lawyer with experience fighting for diminished value claims in Arizona.<\/p>\n Generally, diminished value claim payouts can vary between a few hundred dollars for instances of minor damage<\/b> and thousands of dollars for significantly devalued vehicles<\/b>. Still, various factors can affect compensation. Some examples of circumstances that can impact payout amounts for diminished value claims in Arizona are:<\/p>\n The resulting compensation should closely cover the difference between the pre-accident value of the vehicle and its market value after repairs. Still, not every insurance company will immediately offer a high enough payout to accurately cover your vehicle\u2019s depreciation in value. Thankfully, expert appraisals and detailed evidence can help you fight for fair compensation.<\/p>\n Attorneys can play a crucial role in diminished value claims by guiding clients through the legal process<\/b> and guaranteeing all requirements are met. Their legal expertise can facilitate the documentation of claims and the presentation of evidence. They also know how to negotiate a car accident settlement<\/a> with insurance companies, helping you secure payment that is as fair as possible.<\/p>\n Since the Arizona diminished value law can help car owners seek compensation for the loss in their vehicle’s market value after an accident, it is important to know when and how a claim can be filed. Diminished value claims in Arizona can usually be submitted for any cars, motorcycles and trucks that have been in accidents, regardless of whether or not they have been repaired yet.<\/p>\n The 2011 court case Oliver v. Henry<\/i> confirmed that Arizona vehicle owners can claim diminished value without needing to sell the vehicle, assuming the loss can be proven using expert appraisals and documentation of damages.<\/p>\n To avoid challenges, such as insurance denials and proving the exact loss, consult the knowledgeable personal injury attorneys<\/a> at JacksonWhite Law<\/b>. We can help you navigate legal hurdles in an attempt to secure just payouts for common types of accidents<\/a>, including car crashes that lead to diminished value.<\/p>\nWhat Is a Diminished Value Claim?<\/h2>\n
Types of Diminished Value<\/h3>\n
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How Arizona Has Handled Diminished Value Claims<\/h2>\n
Paul Oliver v. James Henry<\/i>, 227 Ariz. 514 (Ariz. Ct. App. 2011)<\/h3>\n
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Filing a Diminished Value Claim in Arizona<\/h2>\n
Steps for Filing a Diminished Value Claim<\/h3>\n
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Who Can File a Diminished Value Claim?<\/h3>\n
Common Challenges with Diminished Value Claims<\/h2>\n
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How Much Can You Recover from a Diminished Value Claim?<\/h2>\n
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The Role of an Attorney in Diminished Value Claims<\/h2>\n
Pursue Your Right to File a Claim<\/h3>\n