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Your Cars After-impact Diminished Value The(ACV)Actual Cash Value Policy DOES NOT insure the property itself but the VALUE of the property. Okay let's say the insurance company chooses to "Repair" their insureds damaged property (as is their option within their contract of insurance). HOWEVER, such an election DOES NOT relieve them of their contractual duty to restore the Pre-Loss VALUE of the motor vehicle. To whatever extent such repair's fail to restore that motor vehicles Pre-Loss VALUE, should be tendered to the policyholder in cash - - and failure to do so is nothing less than insurer fraud! (AND YET, the majority of them will NEVER restore the car to its Pre-Loss VALUE and when you ask them for cash they'll laugh out loud at your "Foolishness")! Items are all too often repaired improperly or overlooked completely. Several of these typical repair-related items could be: Poor quality repairs, improper welding, or flawed refinish operations. "Diminished » Discuss it » Continue Reading »
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