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Diminished Value in Ohio

Ohio has a diminished value statute of limitations of two years. If a claim is filed later than two years, the ability to recover diminishment of value is lost. You will be unable to submit a claim for DOV if you were the at-fault party or if your vehicle was damaged by anything other than an auto collision. Ohio does have uninsured motorist coverage for diminished value. As per Ohio Section 2305.10(A)“…an action for bodily injury or injuring personal property shall be brought within two years after the cause of action accrues…a cause of action accrues under this division when the injury or loss to person or property occurs.”

Recently DVAC helped an individual in Columbus, Ohio. The client had a 2019 Lexus ES350 that sustained $8,274.05 in damage from an at-fault driver. The at fault insurance company claimed 100% responsibility, but only offered $1,500.00 to settle the DOV claim. The Lexus had severe structural damage and DVAC found a total of $5,800.00 in diminishment of value. Our report was provided to the at fault insurance company and they settled at DVAC's number. It pays to hire a licensed DOV appraiser. Diminished Value and Total Loss Settlements    877-879-0101 #diminished #total #insurance #settlement #automobile #appraisal #claim

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