An accident has just happened and you are all distraught and drained out looking at the wounds inflicted upon you as well as on your car. There is no escape from suffering, but the effect can surely be mitigated by filing the settlement claim from the responsible party; at least, it provides some relief and helps you in moving on with less pain. The responsible party’s insurance company is responsible to pay you the claim rising from the diminished value of the car. How you can file it, let’s find out.Image result for How to file a diminished value case after the accidentFirst decide the diminished value
Here are some of the facts you should know about the diminished value.
The diminished value is the difference in the market value of the car before the mishap and the final value evaluated after the repair is done.
The diminished value may not be what you think it should be. The claim settlement lawyer has to present the case and prove the losses incurred with the help of survey reports, etc to make the claim case stronger.
Also, there may not be any diminished value if the repair work has restored the car to its normal self, it mostly happens in the case of minor damage. So, it is advisable to file the case only after finding the diminished value else it will prove to be pure wastage of time and efforts.
Who is the paying party?
The diminished value is to be claimed from not your own insurer; in fact, it is to be claimed from the responsible party’s insurance company.