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Automobile Diminished Value: Is THAT Covered?

Automobile Diminished Value: Is THAT Covered?

Quick Overview

Diminution in value is the loss of value in an automobile after it has been wrecked and repaired.  Very simply, it’s the decline in fair market value attributed to a vehicle having been wrecked and then repaired. In some states, it's actually a covered loss and in others, it isn't. Join us as Brenda Wells brings this session on an important topic related to auto claims and coverage.

$129.00

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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Brenda Powell WellsBrenda Powell Wells

Diminution in value is the loss of value in an automobile after it has been wrecked and repaired.  Very simply, it’s the decline in fair market value attributed to a vehicle having been wrecked and then repaired.  In general, an unwrecked automobile will be worth more than one that has been wrecked and repaired.  That difference is the diminution in value.  In this course, we will talk about diminished value claims in insurance.  Is the industry required to pay these losses?  If the auto is not actually sold, and the diminution realized, is there a loss?  These and many other questions will be answered.

  • Define and describe diminished value/diminution in value.
  • Distinguish between first-party and third-party claims, and, how each treat diminished value losses.
  • Describe the controversy surrounding diminished value losses, and, opine about how you feel those losses should be handled.  
$129.00
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