We all know that cars that have been in car accident, even if they are completely repaired, have a lower value than a car with no accident history. For so long, people have been expected to shoulder this reduced value. In the past, these accidents were often times undisclosed, but now in this age of computer databases, there is accident history available on many cars. With this increased knowledge comes a lower vehicle value.
We buy insurance to protect us from a loss and that’s why people are finally taking these diminished value claims to their insurance companies. Why? Because people have a right to compensation if they suffer a loss due to diminished value. Advocate Auto Claims has a free diminished value calculator on their website and even have information on how you can file a claim for diminished value losses.
If you have been in accident in the last 4 years, you should check out their site to see if you are due compensation.
Tags: accidents, auto insurance, car accident, insurance
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