After a van accident, you may wish to list a divulge for diminished value.
Diminished value is the difference between the prices a vehicle can be sold for before and after an accident. Most people are not as willing to pay the full market value for a car that has been in an accident and so the insurance company appraising your car must take into account the post-accident reduced value. Calculating diminished value is relatively simple; You can expect to pay the diminished value for a car that has been damaged in an accident or to receive the price of the diminished value if your car has been hit.
Instructions
1. Write down the make, model and year of your car. Take this, along with pictures of the car and a description of the car before it was in the accident to three local, reputable car sellers.
3. Write down the original sale price from each car seller. Add the three prices together, then divide by three to create an average price of sale before the accident.
2. Ask then how much they would have sold the car for before the accident. Ask them what they expect they could get for the car after the accident. Have them sign a letter stating this information.
4. Write down the new sale price from each car seller. Add the three prices together, then divide by three to create an average price of sale for after the accident.
5. Subtract the average sale price after the accident from the average sale price before the accident.
6. Draft a letter to your insurance company explaining your methods and showing the diminished value of your vehicle. You can ask to be compensated for this by either your insurance company or the insurance company of the person who caused the accident.
