Posted on 11/2/2020
Selling a Vehicle with a Bad History, You May Be Entitled For More Money For insurance companies a diminished value settlement is like a nightmare but not for the consumer. It is very important to know what it is. So, when someone’s in an accident they didn’t cause and the worth of their car decreases. The customer can collect the diminished value when it comes time to sell it. When you sell a car that has a tarnished CarFax History due to an accident. You will not be able to sell the car for the same amount for another car that has no accident history. Thus, you can collect that difference from your car insurance. To get that value, you subtract your car’s current value from its former value. Remember, you insured your car for the value of it. You are collecting the diminished value claim to make up the difference. The more expensive your car is the more diminished value it has. You can file a claim up to 4 years following the accident. Insurance Companies Do NOT W ... read more