Your Car After impacts Diminished Value

The(ACV)Actual Cash Value Policy DOES NOT insure the property itself but the VALUE of the property.Okay let’s say the insurance company chooses to “Repair” their insureds damaged property (as is their option within their contract of insurance). HOWEVER, such an election DOES NOT relieve them of their contractual duty to restore the Pre-Loss VALUE of the motor vehicle.To whatever extent such repair’s fail to restore that motor vehicles Pre-Loss VALUE , should be tendered to the policyholder in cash – – & failure to do so is nothing less than insurer fraud! (AND YET, the majority of them will NEVER restore the car to its Pre-Loss VALUE & when you ask them for cash they’ll laugh out loud at your “Foolishness”)!Items are all too often repaired improperly or overlooked completely.Several of these typical repair-related items could be: Poor quality repairs, improper welding, or flawed refinish operations.

“Diminished Value” is clearly owed & if a vehicle has not been brought back to it’s pre-accident function, appearance, safety, & value. QUESTION: “How often is this done?” ANSWER: ” If they can get away with it – – Never!”THERE ARE THREE BASIC TYPES OF DIMINISHED VALUE #1. “Inherent Diminished Value”: This is the automatic & unavoidable loss of market value simply due to the fact than a motor vehicle has been involved in an accident. It many cases it’s mandatory that previous damage is made known to a prospective buyer. QUESTION: “Is a prospective buyer told that the motor vehicle has been in an accident?” ANSWER: “NO!”#2. “Insurance Related Diminished Value”: This comes to pass due to oversights & /or omissions by the insurance company on their appraisal. And also, because of the use of “Imitation Replacement” parts. QUESTION: “Is ANYBODY ever made aware of this?” ANSWER: “No, Dan Baldyga was in the business of Insurance Claims for 35 years, & I NEVER knew anybody who was made warned of that!”Article Source: http://EzineArticles.com/33506

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