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Diminished value claim form

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Telephone No. By checking this box I certify that the client/dependent excepting spouse of Member was under the age of 25 at the time when the legal matter occurred. Fax No. Updated contact information provided PART 5 SERVICES PERFORMED refer to TLPP Participating Attorney Fee Schedule for codes and descriptions First Date of Service Final Date of Service Code Description Qty/Hour s Charge TOTALS PART 6 COURT RELATED INFORMATION PART 7 AUTHORIZATING SIGNATURES Court/Administrative/Charge Date M ...

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How do you write a diminished value claim?

How to File a Diminished Value Claim Determine who was at fault. Insurance companies determine who caused the accident based on state laws and the details of the accident. ... Check state laws. ... Check the insurer's rules. ... Gather your documents. ... Find your car's diminished value. ... File the claim. ... Wait for a response.

Is North Carolina a diminished value state?

As noted above, North Carolina is a Diminished Value Recovery State. If your vehicle sustained collision damage due to the negligence of the other party, that other party (by and through their insurance company) owes you any Post-Repair Residual Diminished Value to your vehicle.

How do you calculate diminished value in NC?

In North Carolina, diminished value claims are calculated by comparing the difference between the fair market value (FMV) of your vehicle before your accident occurred and the depreciated value of your vehicle following the accident and the repair of your vehicle.

Is diminished value the same as depreciation?

Diminished Value is different than the usual car depreciation that occurs as a vehicle ages and gradually loses value over time. Diminished value is an accelerated form of depreciation resulting from the damage history. Even with perfect repairs, it will still diminish in value.

How do I write a letter of diminished value?

I hereby request reimbursement for my vehicle's diminished value in the amount of $[amount of DV + cost of appraisal] (this amount includes $[cost of appraisal) for the cost of an appraisal as it is an additional indirect loss). I am reasonable and want nothing more than to be indemnified for my loss.

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How do I file a diminished value claim in NC?

To file a diminished value claim in North Carolina, you typically send a letter to the insurance company requesting the diminished value that you determined. Remember to state that the accident was caused by the negligence of their insured driver and to include any relevant paperwork and photographs.

Can you file a diminished value claim in North Carolina?

Remember, you can claim diminished value in North Carolina as long as you were not the at-fault driver. If the other driver was not insured, your uninsured motorist coverage could potentially cover your diminished value claim.

How do you establish diminished value?

Under formula 17c, to calculate the diminished value of your car, you would take your vehicle value and multiply it by a 10% cap. You would then apply a damage multiplier based on the damage to your car and a mileage multiplier based on your mileage.

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