Diminished Value Claim | How to Make a Diminished Value Claim
Diminished Value Claim | The main reason why we undertake car insurance is to restore us to an early state in case of an accident. But no matter how well a car is repaired after an accident, its resell value will not be the same as if it was not involved in an accident.
However, as a car owner you can file for diminished value insurance claim. This will help you recover the loss in your vehicle value after the accident. At Southern Automotive Consultants we will help you carry a professional appraisal and documentation that will help you in car insurance claims.
How do I collect diminished value?
Most states allow you to collect diminished value depending on the policy agreement with the insurance company. Before making the claim, you are required to provide the insurance company with professionally prepared diminishing value report.
This report is prepared by an independent appraiser to help in determining the difference in value before and after the accident. The diminish appraiser states the methodology used at arriving at the final figure and states repair related diminished value where applicable.
What is the process of filling diminished value insurance claim?
Making a diminished value insurance claim does not necessarily mean that you want to sell your car. The first step in filling for diminished value is appraisal. It determines the loss in the vehicle value resulting from repairs. You can easily determine this by outsourcing the services of Southern Automotive Consultants.
Claiming for the diminished value from the insurer is however not an easy task, it involves continuous negotiation. One is not always guaranteed 100 per cent compensation of the diminished value. Dissatisfactions in the final compensation value can however be settled in court.
Visit our Charleston or Atlanta Office today to speak to an expert in vehicle appraisal field and get all your questions answered. We will ensure that you get it right at the first time while filling for diminished car insurance claim.
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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