Diminished Value | How Can You Qualify
Diminished Value | How Can You Qualify
Diminished Value | In case your car faces an accident, then its value will significantly decrease. Even if you repaired it perfectly, and it looks just like it used to, still its present value will be much less than what it was worth before the accident. However, you can recover the difference, if you file a diminished value claim. Southern Automotive Consultants will file the diminished value claim on your behalf. All the legal formalities will be handled by Southern Automotive Consultants.
However, not all vehicles qualify for a diminished value claim. The rules for diminished value claims varies from state to state. Whether you are living in Charleston, Georgia or Atlanta, your state will have its own rule. However generally, in order to qualify, your car must have a significant market value. It should be at least worth more than $7000. It should also be relatively new. Vehicles which are older than 10 years generally do not qualify. Also, the repair cost should also be significant. Generally, vehicles with repair costs more than $500 are eligible. Before making a claim, you should make sure that you are eligible. Southern Automotive Consultants can help you determine whether your vehicle qualifies or not.
In order to file a diminished value claim, you can take the help of Southern Automobile Consultants. Actually, it is the insurance company which will be determining the value of your claim. If they think, that the repair costs are very high, then they will just consider your vehicle as a ” total loss”. Since it is the insurance company who will be paying the compensation, they will obviously try to minimize the amount as much as possible. Hence, you should try to calculate the value of your car by yourself. There are lots of websites which will give you an accurate value. There are also professional car appraisers at Southern Automotive Consultants. They will determine the value of your vehicle, and make sure that you are getting the correct amount.
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.
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