What is diminished value? This is the difference between the market value of your vehicle before and after an accident. Before the accident, the resale or market value of your vehicle will remain the same but immediately after the accident, it falls substantially.
What is diminished value? This is the difference between the market value of your vehicle before and after an accident. Before the accident, the resale or market value of your vehicle will remain the same but immediately after the accident, it falls substantially. This is because nobody likes to buy a car which has encountered an accident. This can only happen with a BIG discount. After the accident, the safety and reliability of the car change. The vehicle will never remain the same. You can say that the big discount is the Diminished Value because it has reduced the resale value of your vehicle.
When someone faces an accident, they know they have a diminished value claim policy. Still, most of the people are unaware of the actual benefits they can obtain through their diminished value claim. That’s where we come in. We know that your insurance company is not at your part. They will try to settle the matter with the minimum possible amount of diminished value claim. They try to satisfy you that whatever they are doing is for your good but the actual situation is very different. Sometimes, it becomes very difficult to obtain your diminished value claim.
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