Being the victim of an auto accident is a severe inconvenience regardless of injury or medical expenses. It is imperative for all drivers involved to exchange accurate insurance information in order to move forward and file claims successfully. Many drivers in Illinois and across the United States who have been the victim of an auto accident never receive the compensation they deserve from their insurance provider without their knowing. This misfortune is commonly due to this notion of diminished value.
The Truth About Diminished Value in Illinois
We all know that as soon as a car is purchased, its value begins to depreciate. In some cases with brand new cars, the vehicle can lose up to 11% in value the moment it’s driven off the lot. What you may not be aware of is that in the event of an auto accident, cars can depreciate in resale value by 15% – 50% regardless of how well it is repaired.
Insurance companies usually don’t like discussing diminished value with clients if they don’t bring it up – which is exactly why we’re here. The primary goal for the typical auto insurance provider is to settle your claim for the least amount of money for their company. In other words, you’re likely missing out on thousands of dollars if no further diminished value action is requested.
Whether you live in Chicago or a the smallest town in Illinois, Hansen Price can help you make your claim and get the money you deserve.