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Case studies, expert insights, and essential tips to help you navigate diminished value and total loss settlements.
In the state of Oregon, the statute of limitations for collection of diminished value is six years from the date of the loss. Even if you’ve already settled for injury and damage to your vehicle, you still are able to
In the state of Texas, if you were in an auto accident and not at fault, the law allows the recovery of diminished value. The statute of limitations for collecting your diminished value in Texas is two years. Texas is
In Florida, the statute of limitations to recover diminished value on your vehicle is 4 years. Under the Florida statutes, a vehicle owner can pursue a claim for diminution from the negligent party who caused the accident, typically by filing
A total loss vehicle is when the cost of restoration is greater than 75% of the overall vehicle value. Once your vehicle reaches this point, it makes more sense to accept it as a total loss. Your insurance company has
Most people have heard of Carfax. It is quite helpful in determining whether or not you should purchase a used vehicle. A Carfax record will report any accident or damage and all the repair records on a vehicle. Or do
It is always important to document in the most detail possible what happened when you were in an automobile accident. Attached is a list of musts! The more information you can provide, the more likely you can cover your six
Invoking the appraisal clause for your diminished value claim If you have been involved in an accident, you may have a diminished value claim for your vehicle, so long as you were not the at-fault driver. Diminished value claims are
An owner of a 2017 Jeep Wrangler Sahara had his vehicle damaged by an at fault; insured driver. The insurance company paid $9752.33 for the collision restoration, but when the Jeep’s owner inquired about diminished value the adjuster stated “your
