Why Attorneys Don’t Pursue Diminished Value
We’ve been doing research into why so few attorneys pursue diminished value. The largest response we get is that they just don’t see much money in it. We completely understand this, but unfortunately it plays into the stereotype that attorneys are only interested in the money, and not what’s best for their client. The interesting thing about diminished value is that it puts a substantial amount of money into the hands of the client in the early stage of a claim. Most attorneys are interested in the significant return on bodily injury claims, yet their client has to treat for several months before a return can be realized. By recovering money for the decrease in value a vehicle sustains in the beginning of a claim, they can put significant funds in their client’s pocket early on. One to a few thousand may not seem like much to an attorney, but it’s a lot to their client. The bottom line is that for an individual who has a vehicle less than five years old with moderate or more damage, they are losing out by not pursuing a claim. When they attempt to trade in their vehicle they are going to find that it’s worth much less, so it’s best to recover the money now. Our appraisal reports provide the proof necessary to successfully pursue a diminished value claim. Feel free to contact us for a copy of a sample report so you can see the quality of our appraisals.