Diminished Value - Get the Compensation You Deserve After an Auto Accident
The squeal of tires. The sickening sound of metal grinding against metal as you lurch forward in the driver's seat. As you climb out of the auto, you happen to be shaken - but thankfully you and the driver who hit you are not injured. Unfortunately, the identical isn't accurate for ppi reclaim uk your automobile. Even following you endure the hassle of dealing with insurance companies and the inconvenience of taking your car in ppi claims letter for repair, the bottom line is that your auto simply isn't worth as considerably. "The resale worth of a vehicle with an accident history is significantly much less than a comparable car that is never ever been in an accident," says Omar Quddus, President and Co-Founder of Advocate Automobile Claims LLC (www.advocateautoclaims.com).
This phenomenon is called "diminished worth," and the at-fault or third party's insurance firm has an obligation to compensate the driver who was not at fault for this distinction in market value. "Insurance coverage organizations are needed to restore a car to its pre-loss condition and value," says Quddus. "However, most customers aren't conscious that they are entitled to diminished worth compensation - and insurance coverage businesses don't volunteer that details."
That is the purpose Quddus is on a mission to educate customers about their rights, and why Advocate Auto Claims pursues diminished value claims on behalf of drivers who weren't at fault in accidents. "Even when shoppers are conscious of the diminished value issue, they are often ill-equipped to handle the roadblocks that an insurance organization will throw at them," he says. "Each and every insurance coverage firm has its own internal procedures, but these procedures can vary from area to region." Similarly, the laws and regulations governing diminished worth differ greatly from state to state.
The maze of regulations and loopholes, as effectively as the harsh stance taken by automobile insurance coverage businesses against diminished value claims leaves customers ppi claim letter with handful of options. "Buyers may be involved in an accident after or twice in a lifetime they basically don't have the resources and expertise to get the compensation they deserve," says Quddus.
This is precisely why the owners of Advocate Auto Claims, who have much more than ten years of knowledge working with diminished value claims on behalf of fleet owners and rental car agencies, have opened their doors to buyers. Whilst drivers can spend out of pocket for a car inspection or a report to substantiate their claim, and an attorney may possibly pursue such a claim in conjunction with a private injury case, Quddus' business handles every single aspect of diminished value claims - and does so on a contingency basis. "The method of establishing diminished value and then negotiating the appropriate compensation is both an art and a science," Quddus says. "We pride ourselves on our capability to get results, and don't expect to be paid until you do."
