diMINISHED VALUE IS A TERM USED TO DESCRIBE A SPECIFIC LOSS IN MARKET VALUE TO A VEHICLE DUE TO COLLISION OR OTHER DAMAGE primarily CAUSED BY ANOTHER PARTY’S NEGLIGENCE or sometimes caused by one’s own negligence. (see note below)
*** IN THE STATE OF GEORGIA AN INSURED PARTY CAN CLAIM DIMINISHED VALUE WITH THEIR OWN CARRIER EVEN IF SAID INSURED PARTY CAUSED DAMAGE TO THEIR OWN PROPERTY.
the insurance company sent me a check for diminished value . should i cash it?
no! in addition, do not sign a release of liability either. doing so could permanently limit your chances for a fair payout on your claim!
Can I reject the INSURANCE COMPANy’s initial diminished value offer ?
yes, that’s why YOU’re here!
How long does it take to collect a fair settlement?
typically 30 days. more or less depending on the insurance company.
how much money can i expect?
your settlement depends on many VARIABLES. please Fill out our contact form and we’ll provide you with a range of what to expect!
when should i tell the insurance company i’d like to have driven diminished value represent me?
once all collision repairs are complete and there is a final repair bill.
can i still seek diminished value if this is not my first recorded accident?
YES, BUT there may be decreased compensation as a result.
Will my accident or collision repair show up on the Carfax report ?
yes! most police depts. ACROSS THE UNITED STATES now sell the accident report info to carfax AND OTHER COMPANIES.
IN ADDITION, insurance CLAIMS INFOrmation IS ROUTINELY BOUGHT FROM THE INSURANCE DATABASES.
finally, most repair facilities such as car dealerships and large national collision chains also sell the repair INFORMATION.
