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"What You Need to Know About Making a Diminished Value Claim in Louisiana"

Diminished value claims are an important part of the legal system in Louisiana, and understanding how they work is essential for anyone who has been involved in a car wreck



Under Louisiana Revised Statute § 9:2800.17, if you have suffered property damage as a result of another person’s negligence or recklessness, you may be entitled to receive compensation for diminished value. This blog post will explain what diminished value claims are and how they can help victims of car accidents recover more money from their losses. We will also discuss the specific requirements under Louisiana law that must be satisfied before filing a claim for diminished value damages. By reading this blog post, you can gain a better understanding of your rights and options when it comes to pursuing such damages after an auto accident in Louisiana.


RS 9:2800.17 sets forth 3 requirements to possibly make a successful claim for diminished value of your vehicle:

  1. Your vehicle is damaged, but NOT totaled.

  2. Someone else was the cause of the damage

  3. You can prove by a preponderance of the evidence (51%) that even if this vehicle was repaired to the same condition as before the wreck, its fair market value is now less than its pre-wreck value.


How much money can I expect to get for a Diminished Value Claim?


This is a very difficult question to answer, and I'll give you a simple scenario: Do you think a 2005 Chevy Silverado is going to be worth the same amount as a 2022 Range Rover? Of course not! Some of the things to keep in mind:

-How many wrecks the car has been in

-The value of the vehicle before the wreck

-The Mileage on the vehicle

-Type of vehicle, luxury vehicles obviously being worth more

-The current state of the resale market for vehicles


Call Chris today at (225)-916-1751 to discuss your possible Diminished Value Claim!


Further Resources:

https://www.carfax.com/blog/understanding-diminished-car-value-after-an-accident



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