The squeal of tires. The sickening sound of metal grinding against steel as you lurch ahead in the driver’s seat. As you climb out of the automotive, you are shaken – but fortunately you and the driving force who hit you are not injured. Unfortunately, the same isn’t true for your car. Even after you endure the hassle of dealing with insurance coverage companies and the inconvenience of taking your car in for restore, the bottom line is that your automotive simply is not worth as much. “The resale worth of an automobile with an accident history is considerably lower than a comparable car that’s by no means been in an accident,” says Omar Quddus, President and Co-Founding father of Advocate Auto Claims LLC.
This phenomenon known as “diminished value,” and the at-fault or third party’s insurance firm has an obligation to compensate the motive force who was not at fault for this difference in market price. “Insurance coverage companies are required to revive a vehicle to its pre-loss condition and worth,” says Quddus. “Unfortunately, most shoppers aren’t aware that they’re entitled to diminished worth compensation – and insurance coverage firms do not volunteer that information.”
That is the explanation Quddus is on a mission to educate shoppers about their rights, and why Advocate Auto Claims pursues diminished value claims on behalf of drivers who weren’t at fault in accidents. “Even when customers are conscious of the diminished value situation, they’re often ailing-equipped to deal with the roadblocks that an insurance coverage company will throw at them,” he says. “Each insurance firm has its personal inside procedures, however these procedures can differ from region to region.” Similarly, the laws and laws governing diminished value differ enormously from state to state.
The maze of laws and loopholes, in addition to the tough stance taken by auto insurance corporations against diminished worth claims leaves customers with few options. “Shoppers could also be concerned in an accident a few times in a lifetime; they merely don’t have the sources and data to get the compensation they deserve,” says Quddus.
This is precisely why the homeowners of Advocate Auto Claims, who have more than 10 years of expertise working with diminished value claims on behalf of fleet house owners and rental automotive businesses, have opened their doorways to consumers. Whereas drivers will pay out of pocket for a car inspection or a report back to substantiate their declare, and an attorney could pursue such a claim along side a personal damage case, Quddus’ firm handles each aspect of diminished value claims – and does so on a contingency basis. “The process of building diminished worth and then negotiating the right compensation is each an art and a science,” Quddus says. “We delight ourselves on our capacity to get results, and do not count on to be paid till you do.”