When you’ve been in an auto accident, your insurance company is supposed to take financial responsibility on your behalf. While most drivers think to submit a collision insurance claim for the repairs, they often overlook the diminished value when the wreck is someone else’s fault. Learn more about this claim in the guide below to determine whether it will benefit you.

A Driver’s Guide to Diminished Value Insurance Claims

Why It’s Important

A diminished value claim provides you with the difference in the car’s value before and after the accident. Once your car has been in an accident, it won’t be worth the same even after it has been repaired to pre-collision condition. If you want to sell your car later, buyers will look into the vehicle’s accident history to judge what they are willing to pay for it. That’s why you want your collision insurance to pay for not only the repairs, but also the change in value.

How to Submit the Claim

You likely won’t be able to take advantage of this claim if the collision was your fault. But if the accident was not your fault, you should be able to submit a claim to the collision insurance agency covering the at-fault party. If they are uninsured, you may be able to submit it to your own uninsured motorist protections.

You will need a professional car appraisal to determine what the value was before the accident and what it is now after repairs. It will be up to you to prove the loss in value, and an appraisal by a professional is the only source your insurance will trust. Submit the appraisal along with the claim—you may need to ask more than once since insurance companies will often delay fulfilling these claims.

The skilled team at Wreck Expert will help ensure you get the compensation you deserve after a car accident. They’ve served drivers throughout Kansas and Missouri for over 20 years, and will guide you through the entire process and advocate on your behalf with the collision insurance company. Schedule a free estimate on their website or by calling them at (913) 444-4636.