We Service A Wide Range Of Clients
*Car Dealerships
*Car Rental Agencies
*Government Agencies And Municipalies
*Commercial Lines
*Private Individuals
Diminished Value
Diminished Value is the reduction in a vehicle's market value occurring after a vehicle is wrecked and repaired, otherwise called accelerated depreciation. A reasonable person will not pay the same price for a wrecked, then repaired vehicle, as they will for a vehicle with no prior accident history. Even if the repairs are proper, the vehicle will still lose value. To collect diminished value after a car accident , insurance companies usually ask for a diminished value report. These reports are usually generated after an unbiased third party appraiser inspects and appraises the vehicle and establishes the loss in value.
Total Loss
Most consumers understand that a Total Loss is when a vehicle is damaged and the cost of repairs and the salvage value combined would exceed the current value of the vehicle. Then the insurance company may declare it totaled. Generally, the insurance provider will only pay out the lesser cost of buying a replacement vehicle, instead of paying to repair the old one to its previous state.
At Auto Claims Experts we determine a Total Loss from a different angle. Where many times an insurance company often chooses to fix a car because of the high value of the car at the time of the accident, we are able to determine from the actual body shop invoice if the car needs to be totaled as a course of safety and because of the complete loss of value the damage has incurred.
Claim process
When a vehicle has been involved in an accident. The usual car owner is aware of this loss in value, but not all consumers know how to go about filing, appraising, negotiating and recovering the full amount owed to them by the insurance company.at "Auto Claims Experts" our sevice's incloud all the aboveThere is certain information that is needed to recover the value loss of a car that has suffered damage as a result of an accident.
Each and every state has its own laws concerning the statute of limitation of this type of claim as well as whether the loss in value can be on a first party claim or just on a third party claim. If your case falls within the accepted time and law of your state, Auto Claim Experts will request the body shop invoice in order to evaluate the loss of value. A detailed report will be sent to the guilty party's insurance carrier. We will then proceed to negotiate the claim. The result will be in your hands after that.
