Most people do not realize that they have lost value in their vehicle because the insurance company covered their repairs and gave them a rental to drive until their vehicle was “brand new”. When they realize that loss in value is when they go to trade or sell their car.
Imagine going to the dealership 2 or 3 years after that accident that wasn’t your fault and being told you are only getting offered 10,000 for your car that should be worth 18,000 or even 20,000! Sure the dealership will offer you less than the actual cash value that your car should be worth because they will want to leave a little room to make a profit after selling it on their used car lot. But... they pulled a CarFax and saw that you had mechanical or structural damage or even worse, frame damage with airbag deployment. Now they are only willing to give you 10,000 for that vehicle that should be worth at least 18,000.
Now you are angry because no one told you that you would lose money when you trade your car AND it is too late to do anything about it. You lose $ and you are no longer eligible to file that diminished value claim.
Who wins? The insurance companies! Every year there is millions of dollars left unclaimed because we just aren’t aware that this Diminished Value Claim is available.
If it has been less than 2 years and you live in Texas or 1 year if you live in Louisianna since your accident you may be eligible to file a diminished value claim. Give us a call to see if you may qualify.