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How do I find out the diminished value of my vehicle after an accident?
How is it being calculated?
You can find the "used car" value for your undamaged car at most public libraries. Ask the reference desk for the Blue Book or Yellow Book and look it up. If the damaged car value is much less than this the car may be considered totalled and not cost effective to repair. Check with your inurance company if you have Comprehensive Insurance and they will help you arrange to have an adjustor evaluate your damage. If you do not have Comprehensive Insurance, an auto body shop may provide you with a repair estimate, often free of charge. They can explain the basis of their estimate including salvage value if any. Of course, if someone else caused your damage, you have the right to sue (even in small claims court) to recover damages in which case a professional repair estimate will help support your claim.
You can find the "used car" value for your undamaged car at most public libraries. Ask the reference desk for the Blue Book or Yellow Book and look it up. If the damaged car value is much less than this the car may be considered totalled and not cost effective to repair. Check with your inurance company if you have Comprehensive Insurance and they will help you arrange to have an adjustor evaluate your damage. If you do not have Comprehensive Insurance, an auto body shop may provide you with a repair estimate, often free of charge. They can explain the basis of their estimate including salvage value if any. Of course, if someone else caused your damage, you have the right to sue (even in small claims court) to recover damages in which case a professional repair estimate will help support your claim.
References :
If you live in a state that recognizes diminished value (like Georgia) you may be entitled to additional money from your carrier.
References :
Life
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