Hail Damage and Depreciation

How much does a SUV looses it's value due to Hail Damage even though it's been repaired.



Answer:

It really depends on many variables. 1. What kind of SUV are we talking about? How many miles? What model, make, miles? Etc. There are simply too many variables to try to make this assessment.

The bigger issue however is that a hail damage claim is a comprehensive claim. Please see more on comprehensive coverage:

http://www.auto-insurance-claim-advice.com/Comprehensive-Coverage.html

This coverage is a “not at fault coverage” which means, you cannot make a claim against a third party (obviously). Implicitly, this means that you are bound to make a claim against your own insurance company and follow the terms of the policy under this coverage.

Most likely than not, the insurance company has agreed to repair or replace (fix or total) the SUV, but not to protect from a purely economic damage (value lost or diminished value).

You need to read your policy carefully to see if you can make this claim. To learn how to figure out auto policies, please see:

http://www.auto-insurance-claim-advice.com/read-your-auto-insurance-policy.html

Good Luck,
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