Don't Settle For Less Than You Are Owed After an Auto Accident

It can be difficult to understand all the ins and outs of the auto insurance claim process, and that can make it difficult to get a fair amount from an insurance company. There are ways to file a claim if your vehicle is damaged or totaled in an auto accident, but you have to have an accurate vehicle appraisal and know how to submit a claim. There are two major types of claims: total loss claims and diminished value claims. These claims are filed under quite different conditions - diminished value claims refer to claims to recoup the loss amount of the resale value of your vehicle after auto accident repairs. When the damaged vehicle is repaired but the resale value of the vehicle would be diminished or reduced in the current market, you are often entitled to that difference. If your vehicle is totaled after an auto accident, the insurance company may offer a low end settlement amount based on their internal appraisal. You may be entitled to a higher fair market value settlement, and a total loss claim is a claim on the difference between your insurance settlement offer and the amount you are entitled to based on the fair market value appraisal.

Usually, the insurance company processes all the documents and produces the appraisal for the vehicle. Seeking the help of professional claim specialists is the best way to get a fair estimate of your vehicles value. However, there are multiple factors that you need to consider while deciding whether your vehicle is eligible for a diminished value claim or not.

Overall, it depends on the damage and condition of the vehicle. If your vehicle does not have any history of accidents prior to the latest damage then the chances of getting the diminished value through a claim is more likely. Working with an independent professional vehicle appraiser and damage claim consultant, you can be assured of getting a reliable and legitimate valuation.

Using an independent appraiser can also sometimes increase the speed of the entire process. They can appraise the value and provide you exact facts regarding your vehicle on the basis of the current damage, history and market value of your vehicle. Having the help of an independent, unbiased vehicle appraiser or claim consultant is imperative especially because they can incorporate all the documents and facts without prejudice to provide you with potentially the maximum claim amount.

Article Source: http://www.compensationsecrets.co.uk/