It isn’t uncommon for car owners to tell us that they had no prior knowledge of Auto Diminished Value claims. Most of us do understand that our cars are worth less after undergoing collision repairs. But very few realize that they can recoup that lost value from the insurer of the person who caused the accident. All auto insurance policies contain property damage coverage that protects you from financial loss. These losses include not only the cost of repairs and reimbursement for car rental fees during the repair process, but also that loss in value known as inherent diminished value. A client of ours who works for Amazon, called to thank us for guiding him through the claims process. We thanked him and asked that he spread the word among his colleagues. In essence, that is what this article strives to do – share this information with other Amazon employees.
If you drive a late-model car that was involved in a crash; after being repaired, it now has a repair history – commonly known as a bad Carfax. Neither an auto dealer or private party will pay as much for a previously-repaired car as for one that was never wrecked. Even minor repairs can cause a vehicle to lose ten or twenty percent of its pre-accident Fair Market Value. Should structural damage or air bag deployment occur, half the value of your car may be lost. In the case of a not-at-fault accident, knowing about your right to make a third-party claim for inherent diminished value can help you to recover thousands of dollars.
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Our automobile diminished value appraisals are sought after by car owners all over the country. We provide automobile diminished value reports in all 50 states. AUTODIMINISHEDVALUE.COM has published this information for many companies whose employees have beneftted from our services. Now Amazon employees have this same knowledge at their disposal.
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This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.