What is diminution in value anyways? Quickly put, when a vehicle has been damaged and repaired the diminished value is the portion/amount/percentage of that vehicle’s value that is lost and not restored by the repair process. Typically, owners of exotic cars or luxury vehicles are the ones that are filing for a diminished value claim—and getting it. They usually have a better understanding of what their car can be sold for or will be worth, whereas the average car owner doesn’t or maybe thinks it’s too much trouble trying to face an insurance company. Not that they would be wrong necessarily. Insurance companies aren’t known for being easy to work with or effusive with funds. The thing is—everyone should apply, whether they own a 2010 Honda or a 1968 Fiat Dino. Here’s why:
It’s your right.
When you purchased that vehicle you spent your hard earned money to buy a car that you would use, possible re-sale, and you also paid insurance to have options should something happen to that vehicle. So why would you settle on having a repaired vehicle that you won’t be able to resale for the type of value it would ordinarily receive?
Insurance companies will try pretend they don’t know what diminished value is or that it doesn’t exist and that your vehicle wouldn’t be worth much anyway, but that’s their job. The adjuster has to get you not to file or pursuit a claim and you shouldn’t expect anything else, because you’ll believe it and not ask. Your job, on the other hand, is to fight for your rights, and our job is to help you.
Getting the most out of your vehicle
We’ve been doing this a long time. We’re experts in creating air tight reports that will make your case for you. We’re not “googling” a few sites and then trying to slip it past an adjuster. This is our business. We can help you make a solid claim that will get you the money you deserve. You paid for the vehicle. You paid for the insurance. It’s time for them to do what you paid them to do, and that’s provide you with the correct value of your claim.