Denlasoul
06-29-2003, 09:48 AM
Hey all:
Not sure how many of you know about diminished value compensation (I just discovered it), but here is the lowdown.
Depending on you state's laws and insurance company, if your car is damaged and repaired you may be entitled to compensation for the loss in value of your car. Basically, they calculate the difference of the before accident value and after accident value.
I just learned in WA state that the gov't ruled that compensation is part of the "total" insurance policy, and therefore should be allowed. Depending on circumstances.
Anyway, if you wanna find info on your state, search for "diminished value auto (your state)"
Here's a link I found from a local newcast:Click me (http://www.komotv.com/news/story.asp?ID=11470)
Not sure how many of you know about diminished value compensation (I just discovered it), but here is the lowdown.
Depending on you state's laws and insurance company, if your car is damaged and repaired you may be entitled to compensation for the loss in value of your car. Basically, they calculate the difference of the before accident value and after accident value.
I just learned in WA state that the gov't ruled that compensation is part of the "total" insurance policy, and therefore should be allowed. Depending on circumstances.
Anyway, if you wanna find info on your state, search for "diminished value auto (your state)"
Here's a link I found from a local newcast:Click me (http://www.komotv.com/news/story.asp?ID=11470)