Monday, January 14, 2019

Making a claim for Accelerated Depreciation / Diminished Value in British Columbia without litigation

If you've gotten this far, it is safe to say you understand the concept of accelerated depreciation / diminished value.   If not check out the video below.

In the province of British Columbia if your situation fits a certain set of parameters you are able to make a claim for accelerated depreciation / diminished value without the need of litigation.  At the time this blog was written, we are unaware of any where else in Canada that this is possible.

The parameters are:
  1. You were not a fault
  2. Your vehicle has valid BC License Plates
  3. You own or finance your vehicle (no leases)
  4. This was the first time the vehicle has sustained damages that cumulatively exceed $2000.
  5. The other driver who caused the damages had British Columbia license plates on the vehicle.
  6. You have your collision insurance through ICBC.
If your can answer yes to these questions you can make a claim directly through ICBC.  You simple need to prove your loss, which is what our reports provide - click here.  

If you believe you have suffered accelerated depreciation and you do not fit the above criteria, there may still be options for you.  Give us a call for a free consultation.