All You Need To Know About Diminished Value Appraisals
What are diminished value appraisals and when you can make a diminished value claim is a question that is all over the internet? Unfortunately, people don’t understand the difference between value appraisals and first-party claims and therefore they seem confused anytime their vehicle encounter an accident.
Diminished value claims are subjected to file after a car accident. The claim is made for the decrease in value of the vehicle that it undergoes because of an accident. This is theoretically known as inherent loss of value. Diminished value claim is the type of claim that is allowed as well as recoverable in almost every state.
In many states, the first-party claim is denied that is a claim that you made against your own insurance carrier for compensating the diminished amount of value. Fortunately, there is another option for you and that is a third-party claim. In this, you make a diminished value claim against the other party at fault and it is based on the law of damages and negligence.
The third-party claim makes it clear that your vehicle has lost its value after the accident that was caused by the negligence of other party and therefore he/she is supposed to compensate for the losses.
All of the above details are extremely theoretical and one may not comprehend laws and regulations completely in order to file a diminished value claim. Hence, we offer diminished value appraisals services to all of you who want to get paid for the loss in value. Our team of experts is well-equipped in evaluating the whole case and prepare a claim report to the third party. We guarantee our services that you will get back the loss amount 100%.
For more information on diminished value appraisals, visit our website now!