3 Things You Need to Know About Diminished Value Claims
Here Are Three Things You Need to Know About Diminished Value ClaimsThe value of your vehicle before the accident will give you a good idea of the compensation your claim could bring. Compensation will take time to receive and your claim will require a valuation report prepared independently by a certified appraiser. Read on to find out more.
Not All Vehicles or Accidents Warrant Filing For Diminished ValueThe higher the value of your vehicle before the collision occurs, the greater the loss of value you could suffer after. Many insurance companies will only consider the diminished value of up to 10% of the value before the collision. So, if your car was worth $15,000 before damages, the most you could recover as the diminished value would be $1,500. A vehicle that was valued at $1,000 before the collision could only hope to recover $100 in diminished value.
Payouts For Diminished Value Don't Happen OvernightAny claim you file will need to follow a process and will take some time. Often, a settlement can be reached within three to six weeks of the claim being filed. The insurance company will then need two to four weeks to provide payment on the claim.
Getting an Independent Appraisal When Filing for Diminished ValueYour diminished value appraisal report will be more useful if it is completed by a professional appraiser who has expertise in valuing vehicles after a collision has occurred. Insurance companies will be more likely to accept your claim and your claim will probably take less time to decide. At Casas Law, we specialize in West Palm Beach, Florida, diminished value claims. If you still have questions about diminished value, contact us today because we have answers. Let Casas Law handle your diminished value claim on your behalf.
LO QUE DICEN NUESTROS CLIENTESRevise todas las Reseñas
I’d recommend him to anyone!
I was recommended to Alex Casas by my father and I am absolutely ecstatic with how simple and easy he made my auto collision injury case for me he handled everything to where all I had to do was show up and sign on the line! I’d recommend him to anyone!
They are very professional and friendly and go above and beyond the call of duty.
I am very pleased with the assistance from Casas Law P.A and will recommend this firm to anyone and everyone that needs help. They are very professional and friendly and go above and beyond the call of duty. Thank you so much for all your help.
If you are looking for a great law firm and I really mean and great firm this is the place to go!
Alex Casas Law firm is a great. Every time I came in contact with Mr. Casas and his staff they were always professional and friendly. My whole process was a great experience. They always return calls in a timely manner. The staff goes above and beyond what is needed. They kept me informed during the whole process. If you are looking for a great law firm and I really mean and great firm this is the place to go!!!!
They were able to direct me with medical care questions, and advocate on my behalf with insurance companies.
Alex and his team were my rock after I was hit by a car while riding my bike. They were able to direct me with medical care questions, advocate on my behalf with insurance companies, and really listen on days where I had pain and was completely frustrated with my insurance company and their lack of response. Highly recommend!!!!
Alex Casas is by far the most present and engaged attorney with whom I have had the pleasure of working.
Alex Casas is by far the most present and engaged attorney with whom I have had the pleasure of working. The staff is caring and pleasant. The response time is extremely fast. And he is good at winning! Thank you for all you have done for us over the years! I highly recommend Casas Law!