Why Hire a Diminished Value Expert
A vehicle loses its value immediately it is driven off a showroom and continues to do so until its useful life is over. However, the most significant loss of value takes place when a collision occurs. There is a loss of value, though not seen physically due to the repair work that takes place after, but it is definitely present. That value loss is known as "DV" by experts, and you are supposed to receive it from the responsible insurance company as compensation. If your vehicle has been involved in a crash, the following are reasons for hiring diminished value experts.
A sizable number of people say that they cannot buy a vehicle that was involved in a collision while others said they would only purchase such a vehicle if it were being offered at a significant discount. That means that you are likely to incur a significant loss if you dispose of your vehicle since there will be a need to reduce its asking price considerably to get a buyer. When you utilize the services of a diminished value professional, it will be possible to learn about the loss of value that resulted from the accident you were recently involved in and make a claim with the relevant insurance company.
When you hire a diminished value expert at
, you will find out if the value lost is worth pursuing. That will save you the trouble of pursuing a claim that is bound to fail. Such a case can result from your vehicle being too old, the repairs being minimal or previous accidents being too many. The "DV" that results in such instances is usually meager and not worth raising a claim for.
Insurance companies are not happy when diminished value claims are made because the concept of "DV" is one that they do not disclose to the public. Note that their principal intention is to pay out as little compensation as possible to enable them to maximize profits. When you file diminished value claims, the insurance representative will either tell you that you do not qualify or pay you less than is owed. A "DV" expert can advise you in such cases and even negotiate on your behalf with the insurance representatives. Watch
to learn more about diminished value.
The diminished value expert can recommend the best lawyers to help in your claim if the insurance company denies your eligibility or pays less than is owed. Since the insurance company responsible will obviously seek legal counsel from an expert, it is advisable to get yourself a lawyer too. Learn