Texas Diminished Value claim | How To File Diminished Value Correctly
In the state of Texas, if you are in a auto wreck and the accident was not your fault you are entitled to file a insurance claim for diminished value. The statute of limitations on filing a diminished value claim in Texas with your insurance is two years from the date of loss. In order to recover the losses you must have a diminished value appraisal completed by a professional automobile appraisal company, such as Autoloss. Also, if the other party in Texas does not have auto insurance and you carry uninsured/ underinsured motorist coverage you may be able to claim diminished value under your policy... You can also file a claim in small claims court in Texas for as much as $10,000. Autoloss can help the Texas consumer in many ways with their diminished value claim. We also have local Texas auto appraisers standing by to complete a diminished value inspection on your vehicle as well. Call 877-655-1661 so Autoloss can help you recover your losses today.
Diminished Value Claim Resources
- Automobile Insurance Made Easy
Texas Department of Insurance
- 2016 Disaster Assistance to Consumers Frequently Asked Questions
Consumer FAQs from the Texas Department of Insurance
- Glossary of Common Auto Insurance Terms
From the Texas Department of Insurance
SETTLING THE INSURANCE CLAIM
Provided by the Texas Department of Insurance
In Texas, the other driver's insurance company may ask you to sign a release to settle your insurance claim and forgo future claims related to the accident. Don't sign a liability release until you are satisfied with the total settlement, including diminished value. Get a letter from your doctor estimating the cost and length of your future medical treatment. You might want to consult an attorney before accepting a settlement. Under Texas law, you have two years after an accident to either settle your claim or file a lawsuit.
Texas law prohibits insurance companies from delaying payment of a claim in order to pressure you to sign a release. If you believe an insurance company is delaying payment to pressure you, file a complaint with TDI.
If the other driver denies fault, his or her insurance company may refuse to pay the claim. Independent witnesses could make a difference in getting the company to pay. It's important to get names, addresses, and telephone numbers of any witnesses to the accident. Make sure the insurance company knows about the witnesses. If the company continues to refuse to pay the claim, you can file a claim against your own insurance or you may have to go to court to resolve the issue.
Before filing a insurance claim with your company, ask your agent or your company's underwriting department how a claim might affect your rates on renewal. A company cannot refuse to renew your policy solely because you had one accident in a 12-month period that was not your fault. However, if the accident affected your DPS driving record, your company may consider it in determining your rates, whether you filed a claim for the accident or not.
File A Diminished Value Claim With Autoloss
Dont let an auto accident diminish your vehicles value. File a diminished value claim throught Autoloss today. We are your diminished value experts in Texas. Call our diminished value experts now and see for yourself! TOLL-FREE: 877-655-1661