What Is Diminished Value? Don’t Let “Big Insurance” Fool You

car-accident-2429527_1280Why is that’s an important question? It’s because when compared to the over 7.4 billion people in this world only a hand full have ever heard of it. When you ask most people, “What is diminished value?” the response would most likely be, “What is what?” CrashCalculator.com understands it’s a mystery to people, and why shouldn’t it be? The only ones that knew about it for what seems like forever are insurance companies; and why the heck would they tell you about it when they lose money if you are educated on it?

Way back on May 26, 2010, ABCNew.com published an article about diminished value – Been in a Car Wreck? Get Reimbursed for Lost Value – and it’s still something most people don’t know about. Let’s end the mystery, take control away from “big insurance”, and put you in the driver’s seat, because those holding the purse strings aren’t about to let you in on their big secret.

First, it’s important to know that most insurance policies prevent the owner of filing a diminished value claim against your own insurance. This means you’ll need to file a claim with the vehicle operator at fault’s insurance company. But act fast and don’t procrastinate too long, some states have statute of limitations on property damage claims.

Now, about diminished value, just what is it? It’s pretty easy to understand.

  1. What was your car worth before the crash?
  2. How much less is it worth now because it was in an accident?

Just two easy questions are all it takes to be aware of your right to be reimbursed for the “true loss in damages”.

Don’t let “big insurance” fool you into believing you can only get that low-balled return on your claim. Don’t accept their offer, contact us first. We’ll answer all your questions, help you and you’ll have a solid understanding of what diminished value is. We promise. Something else to consider, if you or someone you know, before or after filing a car, truck, van, or SUV diminished value claim wants to get top dollar for a vehicle, check out CarBuyerUSA.com. You can sell your 2004 or younger car in any condition, running or not the easy, fast, and safe way. They’ll even come to you to do it! How’s that for convenience?