Do You Qualify For Diminished Value?

  🚗 All vehicles that are damaged and repaired experience some level of diminished value. However, not every situation qualifies for a claim through an insurance company.

Here are a few key factors that determine eligibility:

 🚗 Type of ownership- Is your vehicle leased or owned
📍 State laws – Diminished value laws vary by state
🔍 How the damage occurred – Collision type and liability matter
⚖️ Who was at fault – In most cases, you must not be the at-fault party

  Even if you don’t meet the criteria for an insurance claim, a professional appraisal can still benefit you:

💵 Tax Deduction – If you itemize your deductions, you may be eligible to claim an unreimbursed casualty loss. (Consult your tax advisor for specific guidance.)
🏷️ Lower Vehicle Taxes – In states with Ad Valorem tax (vehicle value-based registration fees), a lower appraised value could mean lower taxes when renewing your tags.

  Once you qualify to make a diminished value claim, your next steps are crucial:

1. 💰 Find out how much you’re owed
2. 📋 Understand the claims process
3. 🛠️ Let OurWorldConsultingLLC guide you with expert services designed to maximize your compensation and simplify the entire process.