Charlotte, NC (PRWEB) February 28, 2015
According to Diminished Value Carolina, every year, there are over 5 million auto accidents in the US. Fortunately, the majority of these accidents dont result in severe bodily injury, but most vehicles involved in an accident lose resale value.
When a vehicle is damaged in an accident or by any other means, it will no longer be worth its original value no matter how well the repairs are made. This loss in value is called Diminished Value.
Victims of car accidents are entitled to be reimbursed for the diminished value of their cars by insurance companies. Potential car buyers seldom pay the same amount for a wrecked and repaired vehicle as they would for the same model undamaged. By law, insurance carriers are required to compensate their customers, in cash, for this loss in resale value as part of the property damage claim.
In North Carolina, if a vehicle sustains 25% or more in damage, the seller, by law, is required to disclose the damage by checking in a field on the vehicle’s title. This obviously reduces the vehicle’s resale value since educated buyers would never pay the same amount for that vehicle as they would an undamaged counterpart.
According to Diminished Value Carolina, for over ten years insurance carriers have been underpaying diminished value claims by compensating claimants using an erroneous and inaccurate formula called 17c. This percentage-based formula yields values that are much lower than the actual loss amounts, consequently saving the insurance carriers millions of dollars at the expense of accident victims.
At Diminished Value Carolina, accident victims can now receive a free estimate of the total loss in value of their vehicle as a result of damage in an accident.
This can help customers determine if their insurance company is giving them a fair offer. Once they receive their quote from Diminished Value Carolina, customers may then choose to order an USPAP-compliant appraisal report which will serve as proof of loss to insurance companies and help car accident victims collect what they are rightfully owed.
Diminished Value Carolina is a licensed auto appraisal company and a subsidiary of Car Appraisals & Claims LLC, performing 300-400 car appraisals a month. It is BBB accredited and A-rated by consumers, a rating that is rare in the automotive world.
The cost of an in-person inspection and appraisal in North Carolina and South Carolina metro areas is a flat $ 275, with the cost increasing to $ 375 for rural areas. If a physical inspection is not needed, clients can still order sight unseen desk reviews for $ 150 by filling out a questionnaire on the Diminished Value Carolina site.
Please contact Diminished Value Carolina at 704-761-8485 for more information or to request a quote.
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