The different types of diminished value
September 14th, 2008 by admin
There are different types of diminished value related to the appraisal of your car after an accident: Inherent, claim related and repair related. The inherent diminished value theorizes that any car, even if it is a luxury car and receives the best repair job, loses value after an accident. Claim related diminished value is when the insurer requests aftermarket crash parts for the repair, or does not get all of the repair procedures that the repair shop recommends. With the repair related diminished value, a car loses value because of substandard repairs, such as improper welding, refinishing or other body repairs.