Diminished Value Claim | Types Of Claims
Diminished Value Claim | Types Of Claimes
Diminished Value Claim | Have you ever had an accident so bad that your car was diminished? Isn’t that what all of us do after a massive accident? Well, you are wrong because all of those diminished cars still have value and they should be repaired to be used again because accidents can happen with anyone at anytime because accidents don’t tell us they are coming, they just happen.
What are diminished value claims?
Diminished value is defined as a portion of a vehicle which has not been restored by repairing it. There are 3 types of diminished values:-
1. Immediate diminished value:-
Immediate diminished value means that if a vehicle had an accident and he/she is paying for the insurance of the car, their car gets repaired by the insurance company using the immediate diminished claim. This is a quick service and it is better overall for anyone who has a damaged insured car.
2. Inherent diminished value:-
Inherent diminished value means that if a vehicle had an accident and that vehicle is not insured and it is repaired by a local car mechanic. Inherent diminished cars can be sold but their rate varies from car to car as they are damaged so they don’t have a good rate. This is also a good choice but only for those who haven’t got their car insured.
A total car means that the car had a really bad accident and every single thing of the car has been destroyed or is not working. This is the worst case for car drivers. Even the insurance companies require some money from their client if the car is totalled and the drivers who didn’t insure their vehicle, they can sell the steel; metal and seats to some local workshop who is interested or the car needs to be fully repaired.
All 3 types have some value. You purchased a car and even if it is totalled, you are going to get something out of it, maybe a couple of hundreds of dollars or maybe thousands but you can never lose hope and use the diminished car claim service.
If you’ve been in a car accident in the past 3 years, your insurance company probably still owes you money that you never collected! You probably weren’t told about it, but in most cases you’re entitled to collect “Diminished Value” (in addition to repairs) on your damaged vehicle…and it could be thousands of dollars! Contact us today to see if you qualify for a diminished value claim.
- South Carolina Offices: 678-794-2878
- Atlanta Offices: 404-392-4822
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