What You Need to Know About Diminished Value
Diminished value refers to the lower value of a vehicle that has been through a collision or an accident. This implies that even when the car has been repaired and has been deemed "good as new" by the repair shop where you brought it to, its resale value will still be lower compared to similar vehicles that have not been through any accidents at all.Read more about Diminished Value athttp://hansenprice.com/diminished-value-houston/
. This is solely due to the fact that it has a history of damage. Here are some of the most important things that you need to keep in mind if you are thinking about selling a car that has been through an accident or filling an Austin diminished value insurance claim.
When your car has been through an accident, and you tried to sell it or trade it in, you will always receive a lower value compared to its normal market value.Read more about Diminished Value at http://hansenprice.com/diminished-value-fort-worth/
. You can file a claim with your insurance agency for the difference of your car's pre-accident value and the value it has after repairs have been completed. You can either file the claim on your own or hire a private company such as Hansen Price to document the diminished value.
When it comes to insurance claims for vehicles that have been through collisions and accidents, Hansen Price can help you negotiate a claim that properly reflects your car's diminished value. They also have years and years of experience on appraising, buying, and selling vehicles that have been involved in accidents. They will not only assess your car's value, they will also prepare the information you need in order to sell your vehicle successfully or make a diminished value insurance claim with your insurance company.
Some of the things that you should not forget when filing your insurance claim for the vehicle's diminished value is that if the accident was due to your fault, it will be very difficult for you to actually get anything. Very few states allow it, and most insurance contracts will prevent you from doing so. For cars that have been damaged because of a flood, this is also the case, unfortunately. However, if you were not at fault for the accident, almost all states will allow you to claim diminished value from the insurance company of the party who was responsible for the accident. Make sure that you do your research on how you can properly file a claim for diminished value in the state you are in.Read more from https://en.wikipedia.org/wiki/Diminished_Value