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Determining the Value of Your Vehicle After an Accident

Man Calling for Car AppraisalAfter an accident, it’s normal to feel like you’d be better off getting the whole thing behind you. Dealing with insurance companies can be tiresome and frustrating, and you’re probably tired or injured, making it even harder to see through the common mistakes people make. Plus, you’re probably not an expert in the field of dealing with an auto accident. Certified auto appraisers are the experts and can help you to get through the frustrating and time consuming process of determining the value of your vehicle.

Don’t Blindly Accept the Insurance Quote

Insurance companies are protecting themselves when they make their initial offer. They’re going for the minimum. You want the maximum. Fair compensation happens when you’re fully informed about what it will cost you to replace your car now or in the future. There are going to be a lot of terms thrown around which are probably unfamiliar, and that’s normal. But don’t let it get to you, because that’s what the insurance company is hoping for. If you give in right away, you’ll be playing into their wants instead of giving you the compensation you deserve.

Total Loss? Diminished Value?

A total loss is easy to understand. But diminished value is a tougher concept and one that most people are not familiar with. Even if your vehicle isn’t a total loss, you can get more in compensation than the cost of repairs. That’s because the overall value of your vehicle is reduced after an accident.

When you work with an appraiser who has experience working with insurance companies, the insurance companies themselves are more likely to offer you a fair quote. You’ll be better informed and you’ll have someone on your side who will explain the terms and problems that you’re dealing with, ensuring your get a fair compensation for your damaged vehicle.