Diminished Value - Get the Compensation You Deserve Immediately after an Automobile 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 car, you happen to be shaken - but fortunately you and the driver who hit you are not injured. Sadly, the ppi reclaim uk exact same is not true for your auto. Even immediately after you endure the hassle of dealing with insurance coverage businesses and the inconvenience of taking your automobile in for repair, the bottom line is that your car simply isn't worth as much. "The resale value of a vehicle with an accident background is considerably less than a comparable automobile that's in no way been in an accident," says Omar Quddus, President and Co-Founder of Advocate Automobile Claims LLC (www.advocateautoclaims.com).
This phenomenon is named "diminished worth," and the at-fault or third party's insurance organization has an obligation to compensate the driver who was not at fault for this distinction in market cost. "Insurance companies are required to restore a car to its pre-loss condition and value," says Quddus. "However, most buyers aren't conscious that they are entitled to diminished worth compensation - and insurance organizations do not volunteer that ppi claim letter details."
That's the purpose Quddus is on a mission to educate shoppers 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 buyers are conscious of the diminished worth concern, they're usually ill-equipped to deal with the roadblocks that an insurance coverage business will throw at them," he says. "Each insurance coverage company has its own internal procedures, but these procedures can vary from area to area." Similarly, the laws and regulations governing diminished value differ greatly from state to state.
The maze of regulations and loopholes, as nicely as the harsh stance taken by auto insurance coverage companies against diminished value claims leaves shoppers with handful of alternatives. "Shoppers ppi claims letter may be involved in an accident once or twice in a lifetime they just don't have the resources and expertise to get the compensation they deserve," says Quddus.
This is precisely why the owners of Advocate Automobile Claims, who have a lot more than 10 years of expertise operating with diminished value claims on behalf of fleet owners and rental automobile agencies, have opened their doors to shoppers. Whilst drivers can spend out of pocket for a automobile inspection or a report to substantiate their claim, and an lawyer might pursue such a claim in conjunction with a private injury situation, Quddus' company handles every aspect of diminished worth claims - and does so on a contingency basis. "The method of establishing diminished worth and then negotiating the appropriate compensation is each an art and a science," Quddus says. "We pride ourselves on our capacity to get results, and do not expect to be paid until you do."
