Diminished Value Claims Expert
Your vehicle was repaired. But its Carfax now carries an accident record, lowering its fair market resale value by thousands.
Insurance companies routinely deny or shortchange inherent diminished value. Attorney Thomas J. Cherichello leverages 30+ years of insurance adjusting insight to recover the lost equity you are owed.
What Is Inherent Diminished Value?
When a vehicle is involved in a collision, buyers and automotive dealerships will virtually never pay the same price for it as they would for an identical vehicle with a clean history.
Inherent diminished value represents that residual financial loss. Under tort law in states such as Florida, Louisiana, New Jersey, and Iowa, when another driver causes an accident, the owner is entitled to be made whole for both the cost of reasonable repairs and the resulting reduction in fair market value.
Why Insurance Companies Minimize Diminished Value
Insurers rarely volunteer diminished value compensation. When claimants ask, adjusters often deploy standard counter-tactics:
- The "17c Formula": Using flawed arbitrary formula caps that severely underestimate actual market loss.
- "Repairs restored it to pre-accident condition": Ignoring buyer stigma and dealer wholesale deductions.
- "You haven't sold the car yet": Diminished value is incurred at the moment of damage, not only upon sale.
With 30+ years of insurance claim adjusting experience, Thomas J. Cherichello understands these formulas and knows how to build credible valuation documentation that adjusters cannot dismiss.