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Diminished Value Claim

Diminished Value Claims

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Diminished value is defined as the loss in market value of an automobile that has suffered damage due to an accident and has been repaired. If your vehicle has been in an accident and you are filing an auto insurance accident claim, you may be eligible for your diminished car value.


Despite the vehicle being repaired after the accident, it is said to have lost some of its' original value because of the simple fact that it has been in an accident. An auto damage appraiser can assist you in recouping your financial loss during the insurance claim settlement process. It is your right to be compensated for the wrecked car value.


This means you may be able to cover the replacement of your vehicle in the event it is totaled. Free history car reports are available to prospective buyers to determine if a vehicle has previously been involved in an accident, which helps to determine the vehicles current market value. It is thought that as much as 20% of value may be lost due to an accident of a rare or classic vehicle.


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