Dealing with a car accident is nasty. First and foremost, you ensure that no one is physically hurt. If that department is sorted, half of your tension is eased. Now comes the second part, i.e., the car. If your vehicle is damaged, you feel that this discomfort is also temporary. After returning from the car shop, your car and life will be back to normal!
Then who says a car accident is nasty? Well, the catch lies in the fact that your car loses value after a collision, no matter how well it is repaired. Yes! If you didn’t understand the first time, then let me repeat. A car that gets involved in an accident loses value, not because it was not repaired skillfully, but because it has a crash history. This reduction in value is known as Diminished Value.
Are you wondering if this is the end of the road? Well, absolutely no! If you are in Nebraska, then you have a wonderful scheme helping and supporting you during these challenging times. Diminished Value Claim Nebraska helps you earn back on your loss. It protects your rights as a car owner who was innocent during the collision.
What is a diminished value claim?
The simplest explanation of a DV claim would be “it is a request for monetary aid in lieu of the loss that you had to bear due to the accident.” Since, despite being repaired, your car loses its value. And being innocent in the collision, it is not fair for you to bear so much.
Here’s why:
When a car is involved in an accident, its history is usually reported and becomes part of its vehicle record. That means:
- Even if the car is repaired perfectly
- Even if it looks and drives just like new
- It’s still worth less than a similar car that’s never been in an accident.
Buyers are usually willing to pay more for a car with a clean history. That’s why your car has diminished value after a crash.
How to file for Diminished Value claim
Determine your eligibility
There are certain grounds that you need to clear to make sure you can file the claim or not. This may include:
- The accident wasn’t your fault. This claim is only valid for innocent car owners in the collision.
- Your car received enough damage that it needed repair.
- Your vehicle has been fully repaired.
Collect documentation
Law doesn’t work on words! So, start gathering the documentation to prove your case, including:
- Accident report
- Repair invoice
- Photos of the damage
- Appraisal report- this is the strongest evidence among all. It’s because it proves the valuation of your vehicle before and after the collision.
Submit your claim
Contact the at-fault party’s insurance company and file your claim. Do include all supporting documents.
Negotiate
Insurance companies generally start with a low offer. So, if you are not satisfied with their offer, then do not hesitate to negotiate. Additionally, seek legal assistance if necessary.
Final Words!
You don’t have face burns from a car crash that happened because of someone else’s fault. A diminished value claim is your key to success.
ADR Claims is here to support you every step of the way in preparing and filing for a DV claim. Connect today!
