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2910 Corporate Center Boulevard, Suite 103147 Katy, TX 77494 Phone: 1 888 353 1719, Fax: 281 605 5062 www.HoustonAutoAdjusters.com Automobile Diminished Value Report Customer Information Name: Juan.

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Step 1: Determine the value of your car. ... Step 2: Apply a 10% cap to that value. ... Step 3: Apply a damage multiplier.

Look up the market value of your car at the NADA or Kelley Blue Book websites. ... Apply a 10 percent cap to the value by multiplying the market value by . ... Multiply for damage. ... Deduct more of the value by applying mileage to the formula to get to the final 17c value.

If you and your insurer disagree about how much your vehicle's value has diminished, negotiate to get the amount you want. You also may decide to negotiate with your insurer after it declares your vehicle a total loss and offers you less than what you think it's worth.

First, go to NADA's website to get a sales value. If the NADA value for your vehicle is $20,000, calculate the base loss of value by using a 10% cap. Simply multiply $20,000 by 10%. The result is $2,000, which represents the highest amount a car insurer will pay for a diminished value claim under formula 17c.

Proceed with caution if you caused the accident. ... Find the diminished value of your car. ... File a diminished value claim with your insurer and ask for compensation. ... Contact your state insurance commissioner or hire an attorney if all else fails.

For most states, there's generally no law that says insurance companies have to pay for diminished value claims. That doesn't mean your claim won't be approved, but it does mean that your chances may be slimmer.

At any stage, the car depreciation rate is about 10 to 25 percent more than the normal rate. Factors include the vehicle's age and post-accident condition. Cars that have been fully repaired will have less depreciation and cars with more extensive repairs or incomplete repairs will see higher depreciation rates.

Typically, the at-fault driver's property damage liability insurance covers a diminished value claim. If an uninsured or underinsured driver is at fault for the accident, you can file a diminished value claim against your uninsured and underinsured driver policy, if you have one.

Diminished value claims can be a difficult process. But if your car is worth significantly less after an accident, even after it has been restored to original condition, then filing a claim for the car's diminished value could compensate for the significant financial loss in value.

Example of a diminished value calculation If the NADA value for your vehicle is $20,000, calculate the base loss of value by using a 10% cap. Simply multiply $20,000 by 10%. The result is $2,000, which represents the highest amount a car insurer will pay for a diminished value claim under formula 17c.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232