Diminished Worth - Get the Compensation You Deserve Right 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 the vehicle, you are shaken - but thankfully you and the driver who hit you are not injured. Sadly, the same isn't true for your car. Even immediately after you endure the hassle of dealing with insurance organizations and the inconvenience of taking your auto in for repair, the bottom line is that your automobile simply is not worth as significantly. "The resale worth of a automobile with an accident history is significantly much less than a comparable vehicle that's in no way been in an accident," says Omar Quddus, President and Co-Founder of Advocate Auto Claims LLC (www.advocateautoclaims.com).
This phenomenon is named "diminished value," and the at-fault or third party's insurance coverage business has an obligation to compensate the driver who was not at fault for this difference in marketplace price tag. "Insurance coverage businesses are needed to restore a automobile ppi claim letter to its pre-loss condition and value," says Quddus. "Regrettably, most consumers are not aware that they are entitled to diminished value compensation - and insurance coverage companies do not volunteer that details."
That's the reason Quddus is on a mission to educate customers about their rights, and why Advocate Automobile Claims pursues diminished value claims on behalf of drivers who weren't at fault in accidents. "Even when buyers are aware of the diminished worth concern, they are usually ill-equipped to take care of the roadblocks that an insurance coverage business will throw at them," he says. "Each and every insurance business has its own internal procedures, but these procedures can vary from area to area." Similarly, the laws and regulations governing diminished value differ drastically from state to state.
The maze of regulations and loopholes, as well as the harsh stance taken by auto insurance coverage businesses against diminished worth claims leaves buyers with couple of choices. "Consumers could be involved in an accident after or ppi claims letter twice in a lifetime they simply do not have the resources and knowledge to get the compensation they deserve," says Quddus.
This is precisely why the owners of Advocate Automobile Claims, who have much more than 10 years of experience operating with diminished value claims on behalf of fleet owners and rental vehicle agencies, have opened ppi claim letter their doors to customers. While drivers can pay out of pocket for a car inspection or a report to substantiate their claim, and an attorney may pursue such a claim in conjunction with a private injury case, Quddus' firm handles every aspect of diminished value claims - and does so on a contingency basis. "The approach of establishing diminished value and then negotiating the appropriate compensation is each an art and a science," Quddus says. "We pride ourselves on our ability to get final results, and do not anticipate to be paid till you do."
