Can I claim resale value loss after third-party car accident?
Is a drop in the re-sale value of my brand new car, quoted by the maruti showroom to 50%, after an accident caused by a third party, claimable under vehicle law?
Dear Client, yes, you can claim diminution in value (loss of resale value) from the 3rd party, but it is not usually covered by insurance, and you must claim it before the motor accident claims tribunal with the proof of value loss in it. I hope this answers your query, for further queries contact us.
Sir, while vehicle law does not directly provide for a claim on depreciation or resale value loss due to an accident, you can pursue compensation through insurance or legal action for damages caused by a third party. It is advised to consult an expert lawyer who will provide clarity on the best way to proceed. For further legal assistance contact us on our helpline number.
Related Questions
24x7 Help
If we fall short of your expectation in any way, let us know
Payment Trust
All refunds come with no questions asked guarantee
