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Filing A Diminished Value Claim In New Jersey
Statute of Limitations to File: 6 Years
File First Party Claim: Excluded
File Third Party Claim: Yes
Diminished Value Through Uninsured Motorist Coverage: Check your policy declarations
New Jersey Small Claims Max Filing: $5000, attorney representation permitted
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New Jersey law holds, "the general primary rule is that, in the absence of the total destruction of an automobile the measure of damages is the difference in its value immediately before and after the injury." Jones v. Lahn, 1 N.J. 358, 362, 63 A.2d 804 (1949) (citing Hintz v. Roberts, 98 N.J.L. 768, 121 A. 711 (E. & A.1923)).
If the value of an automobile before it was damaged was greater than it was after repair, the owner is entitled to a sum for the depreciated value of automobile, in addition to cost of repair. Fanfarillo v. Eastend Motor Company, 172 N.J.Super. 309, 411 A.2d 1167 (Sup. Ct. NJ, Appellate Division) [emphasis added].
Expressed similarly, when repairs still leave the vehicle in a less valuable condition than immediately before the accident, a plaintiff is entitled to prove his full damages by proving the cost of repair and the depreciated value after repair, or by showing the value of the vehicle immediately before and after the accident. Premier XXI Claims Mgmt v. Rigstad, 381 N.J.Super. 281, 885 A.2d 521 (Sup Ct Appellate Div 2005).
Vehicle Trust v. Panter, 2019 N.J. Super. LEXIS 28 (App. Div. Feb. 28, 2019), notes the Appellate Division decided that a motor vehicle owner may recover for diminution of value of the owner’s motor vehicle that was involved in the accident, as long as the proper proofs are presented.
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Richard W. Taylor, President-Managing Partner
NPN #16425692
Richard was a great help in assisting us with our total loss claim with our own insurance company. Not only did he get us fair market value but he was a pleasure to deal with, extremely helpful, extensively knowledgeable, and couldn't have been more responsive. I cannot recommend him highly enough.
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Richard E. Taylor, Sr. Vice President-Partner
NPN#18866571
DVAC gives nothing but honest and objective opinions about the value of your vehicle. I have used Mr. Taylor for appraisals multiple times, and each time, I've gotten nothing but an honest assessment. Mr. Taylor is not only knowledgeable, but extremely responsive and efficient. Highly recommend DVAC.