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For example, if the market value of your vehicle is $15,000 with moderate damage to structure and panels and 20,000 miles, your formula to calculate diminished value would be:
Inherent Diminished Value assumes proper repair has been completed and is defined as the amount by which the market value of the repaired vehicle is less than the market value of the same vehicle before the accident. Almost every vehicle that experiences an accident suffers a certain amount of Inherent Diminished Value.
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...
Allstate advertises the highest potential discount at 40 percent. “We think that’s the maximum statistic,” DeLong says — so don’t expect your premium to be cut in half by telematics.
Diminished value is the reduction in a vehicle's market value occurring after a vehicle is wrecked and repaired, otherwise called accelerated depreciation. To collect diminished value after a car accident , insurance companies usually ask for a diminished value report.
The unprecedented BP oil spill disaster just got worse, thanks to the estimated $56,000 drop in home value that every homeowner on the Gulf Coast could experience. As reported in Bloomberg ...
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