So, you plan to file a diminished value claim in Alaska because your beloved vehicle was damaged in an accident. It’s a wise decision, considering many people don’t even know that they can recover their losses.
A car is an important investment for every owner. To protect this investment, you opt for its insurance. Unfortunately, when it gets involved in an accident and has serious damage.
A diminished value claim compensates for your vehicle’s loss during an accident, if successful. A vehicle is likely to lose value once it is involved in an unexpected accident. This is called diminished value, it is mainly due to damages and lost appearance.
A vehicle’s journey on the road isn’t easy, it is prone to wear and tear and accidents! Collisions cause a lot of issues for the vehicle owner.
Suppose you have been involved in a car accident then as per California law you are entitled to much more than just compensation for medical expenses.
The simplest explanation of diminished could be- it is the difference between the current and the value before the accident.
