Following are articles that I have authored or co-authored. In each introduction, be sure to follow the View the entire article link to view the complete article. Please feel free to contact me if you have any comments or questions.
DIMINISHED VALUE, LOSS OF USE, AND TOTAL DESTRUCTION CLAIMS
(Published in Vintage Car Research newsletter, January 2019; Ferrari Market Letter, March 2019; MTS Journal [The Journal of the International Machinery & Technical Specialties Committee of the American Society of Appraisers], 2nd Quarter 2019)
Moderate damage to a vehicle, especially an exotic, almost always results in the following claims: Repairs, Diminished Value, and Loss of Use. The following explains diminished value and loss of use claims, as well as claims for a totally destroyed vehicle. A Ferrari will be used in this explanation.
THE STEALTH CLAIM
(Published in Sports Car Market magazine, June 2019)
You ask, “What’s loss of use?”
The attorney explains that loss of use claims are “stealth” claims because most car owners and attorneys don’t know they exist.
The law compensates an owner for the loss of use of a vehicle, even if the owner doesn’t rent another car. The amount of the claim is determined by multiplying the number of days that an owner loses use of a vehicle by the rental value of the vehicle.