Can I recover diminished value if the accident was my fault?
-If the accident was your fault, in most instances, you won’t be able to recover your vehicle’s diminished value. That’s because you will be making a first party claim against your own insurance policy. In a first party claim, you have a contractual relationship with your insurance company and you're bound by the terms of your policy. Most insurance policies specifically exclude coverage for diminished value in first-party claims.
-If you were hit by someone else, you are able to submit what is called a third-party claim. In instances of third-party, someone else was at-fault for your accident and you can file a diminished value claim against that person’s insurance company under their property damage liability coverage.
In order to submit a third-party diminished value claim, you will need to prove the inherent diminished value on your vehicle. This is where DVAC comes in. We will provide the necessary supporting documents that prove the diminished value of your vehicle as well as personally staying involved until your third-party claim is settled. We provide a comprehensive appraisal that documents all data needed to prove your claim is valid and in your favor. Let DVAC help today!
Automotive Diminished Value & Total Loss Settlements-(LICENSED)
http/www.mydvac.com
877-879-0101 (Nationwide/Toll Free)
