Category: Auto Insurance or Law

Diminished Value Appraisals Help You Recover Losses

Diminished Value Appraisals Help You Recover Losses

In the United States, car accidents are a common phenomenon. Every year hundreds of car accidents took place in America. When the accident causes an automobile to crash, it results in a diminished value of the vehicle. What does this mean?

The expression Diminished Value can be simply described as the fall in the market price of the vehicle after it encounters an accident. As a general rule, anything that is crashed, wrecked, broken or damage will lose its value and eventually its resale price. The reason is quite obvious that why a vehicle gets higher resale value if it has no accidents ever as compared to one that has an accident. It is also important to mention that no matter how well the vehicle is repaired it will surely lose its value caused by the accident. Hence, diminished value of the car or any vehicle is vital to determine in order to file a claim against the third party or insurance carrier. We at Hansen Price offer great opportunity to determine your DV and claim the compensation.

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