When a car is badly damaged in an accident, the insurance company is liable for the expenses. However, when an accident occurs, the first thing that comes to mind is how to deal with the insurance company. First and foremost, the insurance company will send a representative of the company known as an insurance adjuster to inspect the vehicle so as to know the extent of the damages caused by the accident. The insurance adjuster will inspect the vehicle to determine its value. There are some factors to be considered when appraising a vehicle, including a classic car. The condition of the vehicle after the accident has a lot of effect on the value of the car. During the inspection the market value of the car is compared to the condition of the car after the accident. As soon as the inspection is completed, the insurance company will then pay for the damages based on the value of the vehicle.
Sometimes the insured is not satisfied with the amount of money the insurance company is willing to pay for the damages. In such situation, the solution is to hire a classic auto appraisal company to help you to get the right compensation for your damaged vehicle. The appraiser will inspect the vehicle for a second time and carefully evaluate the condition of the car after the accident, the model of the car and its market value. Thereafter, the appraiser will then request the owner to demand for more payment from the insurance company as well as a diminished value report.
Before filing for an auto insurance claim, you need to have an accurate auto appraisal and also you need to know the type of claim to be submitted. There are two types of claims and they are filed under different condition.
- Total loss claim: This is when the cost to repair the vehicle to its pre-damaged state exceeds the cost of the vehicles worth or actual cash value.
- Diminished value claim: This type of claim allows the owner of the vehicle to recover the difference between the car pre-accident value and its value after repairs.
On the other hand, if an owner of a vehicle feels the need to sell it and get a better model, the services of a car appraiser will also be needed. The buyer will want to how many times the car has been involved in an accident. Accidents diminish the value of a car. Hence, hiring a classic auto appraisal company after a car accident will help to get an estimated value at which the car can be sold. Caution should be applied when driving a car in order to prevent disastrous consequences.
Are you about to purchase a new car? Then hiring an auto appraiser will be of great help to you. An appraiser will help to inspect the new car that you are about to purchase to ascertain if it is in good working condition.