Diminished Worth - Get the Compensation You Deserve Immediately 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 ppi reclaim uk the vehicle, you are shaken - but fortunately you and the driver who hit you are not injured. However, the identical isn't true for your automobile. Even following you endure the hassle of dealing with insurance businesses and the inconvenience of taking your automobile in for repair, the bottom line is that your auto just is not worth as much. "The resale value of a vehicle with an accident history is considerably less than a comparable automobile that's by no means been in an accident," says Omar Quddus, President and Co-Founder of Advocate Auto Claims LLC (www.advocateautoclaims.com).
This phenomenon is known as "diminished value," and the at-fault or third party's insurance organization has an obligation to compensate the driver who was not at fault for this difference in market price. "Insurance coverage businesses are essential to restore a automobile to its pre-loss situation and value," says Quddus. "Regrettably, most customers are not aware that they are entitled to diminished value compensation - and insurance coverage firms do not volunteer that info."
That's the cause Quddus is on a mission to educate buyers 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 consumers are conscious of the diminished ppi claim letter worth concern, they are usually ill-equipped to handle the roadblocks that an insurance coverage company will throw at them," he says. "Every single insurance coverage business has its own internal procedures, but those procedures can differ from area to area." Similarly, the laws and regulations governing diminished worth differ greatly from state to state.
The maze of regulations and loopholes, as well as the harsh stance taken by auto insurance companies against diminished worth claims leaves shoppers with couple of alternatives. "Shoppers may be involved in an accident after or twice in a lifetime they merely do not 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 a lot more than ten years of encounter working with diminished worth claims on behalf of fleet owners and rental auto agencies, have opened their doors to customers. Whilst drivers can spend out of pocket for a car inspection or a report to substantiate their claim, and an lawyer might pursue such a claim in ppi claims letter conjunction with a individual injury situation, Quddus' company handles every single 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 ability to get results, and do not expect to be paid till you do."
