Total Loss
When your vehicle is in an accident and the damage is 75% of the value, the vehicle is considered a total loss
When the damage is determined to be a total loss, what is your car really worth before the accident?
When and if you are in an Accident?
What is prior to damage Loss?
The prior to damage Loss value is what your car was worth before the accident.
If you have been in an accident and it has been determined that the car is a total loss, the insurance company will need to pay to replace your car. Chances are they will not offer you enough to actually buy a similar car with the same appearance, operational, and performance standards with the miles and options.
Owners are entitled to the Actual Cash Value of an available to the general public, comparable automobile, less your deductible, plus tax, title and license fees. When the insurance company does not offered you what you should get for your vehicle.
Apacone.com will determine the before total Loss value of your vehicle using relevant and meaningful market data and making adjustment for disparities when necessary for mileage, options and condition.
Any portion of a Diminished Value or Prior to Loss claim that is not paid can also be written off on your itemized income taxes including the appraisal fee to have the diminished value appraisal performed.
In some claims if you cannot purchase a comparable car within 30 days of your settlement you can re-open your claim and the insurer can either locate a comparable vehicle or pay you the difference.
Use IRS Form 4684 for itemizing before the Loss value and appraisal fees on your taxes.
Valuations/Appraisals are insurance for the vehicle assets investments
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Diminished Value
Diminished Value – Your Insurance Company forget about until you inquire
Diminished Value or cars and trucks value after accident is forget about until you inquire, that your auto insurance company hopes you never learn about. While the term, diminished value, may be a relatively new one to consumers, insurers are well aware of its existence, having paid claims to both insureds and claimants for many years.
What is Diminished Value?
Diminished Value is the term given to the loss in future market value a vehicle suffers because of an accident and it repaired. It is a loss based on the beliefs of most people, that once goods become damaged, they are never as valuable as they would be had they never suffered damage and or injury.
If the damage was determined to be a total loss, what your car was really worth before the accident.
What is Diminished Value really is?
Diminished Value is the amount you're not going to get when you sell your vehicle car or truck because it's been in an accident. If your vehicle suffered significant damage in an accident that was not your fault, you are entitled to file a claim for future loss resale value, the Diminished Value.
A reasonable buyer will not pay the same price for a vehicle with an accident history.
The law is you are required to disclose the accident history of a car when you sell it.
No matter how good the repairs are, no one can "fix" the Carfax report.
Your repaired vehicle car or truck can never qualify as a Certified Pre-Owned vehicle.
What can you do?
Call your local Apacone.com appraiser who can determine the vehicle car or truck value after an accident.
Any portion of a Diminished Value or Prior to Loss claim that is not paid can also be written off on your itemized income taxes including the appraisal fee to have the diminished value appraisal performed.
Use IRS Form 4684 for itemizing Diminished Value and appraisal fees on your taxes.
Call Apacone.com now for Valuation/Appraisal to be protected from a potential emotional and or financial disaster
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Insurance
Home Insurance Policy to protect vehicle assets investment
Agreed Value Insurance policy vs. A Stated Value Insurance policy?
Modified, Customized, Classic, Collectible and Special use Vehicles must have the credible Valuation/Appraisal to be protected from a potential emotional and financial disaster when damaged, stolen or a total loss occur.
Modified, Customized, Classic, Collectible and Special use Vehicles Modified, Customized, Classic, Collectible and Special use Vehicles have stable values and appreciate over time. Because the values are stable, an "Agreed Value" insurance policy should be obtained to protect your collectible automobiles. Under an "Agreed Value" policy, if your car is stolen or totaled, you will receive the agreed value listed in writing on your auto policy.
Most auto policies issued by major insurance companies are for "Stated Value" coverage. With a Stated Value insurance policy, the insurance company decides what your Modified, Customized, Classic, Collectible and Special use Vehicles is worth at the time of the loss. Some collector policies sell Stated Value as if they were the same as "Agreed Value". It is not! Stated Value policies pay the Stated Value or the Actual Cash Value of an insured vehicle ... whichever is less.
Only Agreed Value Insurance coverage is without hidden clauses. If your car is stolen or totaled, you will receive the Value Agreed to when you insured your Modified, Customized, Classic, Collectible and Special use Vehicles.
For Modified, Customized, Classic, Collectible, Show, Racing and Special use Vehicles replacement value can greatly exceed the fair market value or actual cash value, for these vehicles, it's very important to have agreed value insurance. The replacement value of your Modified, Customized, Classic, Collectible and Special use Vehicles needs to include the cost of a donor car, the cost of materials and pay for the hours of labor to replicate these custom-built vehicles. An appraisal/Valuation is not only important for getting an agreed value policy, but in the event of a claim, having your Apacone.com Appraisal/Valuation will be most valuable opinion of all establishing the value of your car with the at fault and liable party.
Agreed Value Insurance - Modified, Customized, Classic, Collectible and Special use Vehicles
Stated Value Insurance - General Purpose Driving
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