Insurance companies have responded to the growing number of claims for diminished value by low balling rather than outright rejecting the claims. Although there is still a lot of outright rejection going on. A lot of people tell me that regardless of the appraisal reflects they receive a flat $500 settlement offer. It’s curious that multiple insurance companies are all offering the exact same number.
Somewhere along the way the insurance companies decided that $500 represents an effective settlement offer to combat diminished value claims. Insurance companies are very good at using settlement offers to avoid litigation. They are very good at managing risk through calculations. They are betting that you’ll accept the low offer to go away. You’ll have a hard time finding an attorney on contingency for a case worth a few thousand dollars. That doesn’t necessarily mean you don’t have options.
Fort Worth and Dallas lawyers negotiating claims in Texas
You can always choose to accept the low offer but if you reject it you will have to try to fight with the claims adjuster and/or file suit against the other driver to recover on your diminished value claim. You can try to work your claim on your own; but the claims adjuster is unlikely to turn the corner because you asked nicely. I wish I could tell you some magic trick to loosen the purse strings but there really isn’t. Often when the claims adjuster is insistent that the offer is final and unmovable the solution is filing suit.
Hiring a lawyer is often a good indication to the adjuster that you are moving in the direction of litigation but not all claims adjusters will move on a number merely because an attorney is requesting it. A lawyer experienced with diminished value may be better at negotiating; but the claims adjuster may have marching orders not to negotiate the diminished value claim. A diminished value lawyer in Fort Worth or Dallas can help assess the claim and develop a litigation strategy to recover on your claim.