Welcome to Harris Law, LLC, your trusted partner in navigating the complex world of diminished value recovery in Missouri. Led by Nixa's auto accident attorney, Joel Harris, our law firm is dedicated to ensuring that you receive the compensation you rightfully deserve after a collision.
In the aftermath of an auto accident caused by the negligence of another party, your vehicle may suffer a loss in value. This loss, known as diminished value, can have a significant impact on your vehicle's resale or trade-in value. It's crucial to understand that not all diminished value appraisal services are created equal. Many online services are operated by unqualified individuals seeking quick profits. At Harris Law, LLC, we stand out as one of the few qualified service providers you can rely on for accurate and honest assessments.
Missouri is a Diminished Value Recovery State, meaning that if your vehicle sustains collision damage due to the fault of another party, that party (through their insurance company) is responsible for compensating you for the Post-Repair Residual Diminished Value of your vehicle. It's essential to note that if the at-fault party is uninsured, there is no coverage under the Missouri personal auto insurance policy for Post-Repair Residual Diminished Value.
The legal precedent supporting your right to recover Post-Repair Residual Diminished Value in Missouri is firmly established in case law, particularly the landmark case of Rook v. John F. Oliver (556 S.W.2d 200) from 1977. This case sets the foundation for asserting your rights and pursuing fair compensation for your diminished value claim.
We understand that the claims process can be daunting, especially when dealing with insurance companies. Some insurance companies may attempt to deny Post-Repair Residual Diminished Value by citing the case of Shapiro v. Kravitz. However, this case does not eliminate the possibility of recovering such value. It's crucial to have a legal advocate on your side who can challenge such denials and protect your interests.
For many individuals, pursuing the recovery of Post-Repair Residual Diminished Value is most effectively done through the Small Claims Court. This option offers a more informal environment, reasonable costs, and a faster process compared to district court litigation. While the Small Claims Court has a monetary limit of $5,000, it can be a preferred route for those seeking swift resolution.
This refers to the loss of value a vehicle experiences immediately after sustaining damage
This represents the portion of inherent diminished value that remains even after repairs have been made.
This type of value loss is directly linked to subpar repair work. If repairs were directed by the at-fault party's insurer, they may be responsible for repair-related diminished value.
Diminished value is the difference between your vehicle's fair market value before the accident and its value immediately after the accident. To determine this value, we rely on recognized sources such as "CCC," "ADP AutoSource," or industry guides like "NADA." It's important to gather evidence that demonstrates the diminished value, as the burden of proof rests on the claimant.
At Harris Law, LLC, we are committed to securing the compensation you deserve for your diminished value claim. With Joel Harris as your advocate, you can trust in our knowledge of Missouri's laws and our dedication to achieving fair outcomes. Contact us today to schedule a consultation and learn more about how we can assist you in recovering your rightful compensation.