First Party Claims (Insureds):

– First Party Claims are those that are filed through your own valid automobile insurance policy.

– The relationship between parties is contractual in nature. In exchange for insurance premiums your policy extends coverage to vehicles listed on the policy.

– You are referred to as the Insured.

– Disputes for diminished value and actual cash value, in the event your vehicle is a total loss, are managed through a portion of your policy called The Appraisal Clause. The process is also referred to as using your “rights of appraisal.”

-Diminished value is owed to you.

Third Party Claims:

– Third Party Claims are filed through the insurance policy of the “at fault” driver, someone other than yourself.

– You are considered a Claimant through the process.

– Disputes are settled by negotiation or through the court system.

-You must request diminished value or the insurance company will not compensate you.