FAQ
WHAT IS DIMINISHED VALUE?
After an accident, your car’s market value will decrease even if it goes through all of the necessary procedures to restore it back to its prior condition. Diminished value is the difference in your car’s market value before and after an accident. Even if you try to resell your vehicle, Carfax and similar reports will show that it has been involved in an accident, which will reduce its market value. A diminished value claim can help recover the costs to bring your vehicle back to its pre-accident market price.
CAN I REFUSE THE AMOUNT OF LOSS GIVEN TO ME BY THE INSURANCE COMPANY?
The second thing to know is that you are absolutely free to reject the offer -- and in most cases you probably should reject it, but your lawyer will have advice that's tailored to your situation. Think of the insurance company's first offer as the kick-off to settlement negotiations.
HOW MUCH DOES AN APPRAISAL COST?
In general most appraisals in Texas cost somewhere between $325 - $450. However, most appraisal costs vary depending on several different factors about the property.
HOW DO I COLLECT ON DIMINISHED VALUE?
Collecting diminished value from an insurance company can be a difficult, and lengthy process. You should consult the services of a professional Diminished Value claim specialist. The claims process will vary on a state-by-state and case-by-case basis. Although the concept of diminished value has long been recognized by many States legal system, insurance companies often attempt to avoid paying consumers for this legitimate damage. With our expertise, there are opportunities for you to collect the full amount of the Diminished Value of your repaired vehicle. Call us today!
WHAT SHOULD I DO WHENEVER I'M INVOLVED IN AN ACCIDENT?
No matter how little the damages sustained by your car is, it is always advisable to report every case of accident to the police. Then, contact your insurance company. If you then contact Collision Safety Consultants of Houston, we may recommend trusted shops in the area that can help you repair your vehicle, and also carry out a post-repair inspection on your car to be sure that the repair was done in accordance with OEM standards.