Diminished Value - Get the Compensation You Deserve Right after an Automobile Accident
The squeal of ppi claim letter 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're shaken - but fortunately you and the driver who hit you are not injured. Sadly, the identical isn't accurate for your car. Even after you endure the hassle of dealing with insurance organizations and the inconvenience of taking your auto in for repair, the bottom line is that your automobile just is not worth as a lot. "The resale value of a car with an accident history is considerably less than a comparable car that's never been in an accident," says Omar Quddus, President and Co-Founder of Advocate Auto Claims LLC (www.advocateautoclaims.com).
This phenomenon is named "diminished worth," and the at-fault or third party's ppi claims letter insurance coverage business has an obligation to compensate the driver who was not at fault for this difference in market place value. "Insurance organizations are necessary to restore a vehicle to its pre-loss condition and value," says Quddus. "Unfortunately, most shoppers are not conscious that they are entitled to diminished worth compensation - and insurance coverage companies don't volunteer that data."
That is the reason Quddus is on a mission to educate customers about their rights, and why Advocate Automobile Claims pursues diminished value claims on behalf of drivers who weren't at fault in accidents. "Even when customers are conscious of the diminished worth situation, they're usually ill-equipped to deal with the roadblocks that an insurance coverage firm will throw at them," he says. "Every single insurance organization has its personal internal procedures, but those procedures can vary from region to area." Similarly, the laws and regulations governing diminished value differ tremendously from state to state.
The maze of regulations and loopholes, as effectively as the harsh ppi claims letter stance taken by auto insurance businesses against diminished value claims leaves customers with few possibilities. "Shoppers could be involved in an accident once or twice in a lifetime they basically don't have the resources and knowledge to get the compensation they deserve," says Quddus.
This is precisely why the owners of Advocate Auto Claims, who have much more than 10 years of knowledge working with diminished value claims on behalf of fleet owners and rental automobile agencies, have opened their doors to customers. Whilst drivers can spend out of pocket for a vehicle inspection or a report to substantiate their claim, and an lawyer may pursue such a claim in conjunction with a personal injury situation, Quddus' business handles every aspect of diminished value claims - and does so on a contingency basis. "The approach of establishing diminished value and then negotiating the proper compensation is each an art and a science," Quddus says. "We pride ourselves on our potential to get final results, and do not anticipate to be paid until you do."
