- LossPay Claims
Comprehensive Claim Assessment
Expert evaluation of your vehicle's post-accident value loss, ensuring accurate claims.
- LossPay uses a structured claims evaluation process designed to determine whether a qualifying repair event has resulted in measurable diminished value.
- Even when repairs are completed to a high standard, vehicles may experience a reduction in resale value because accident history becomes part of the vehicle's permanent record.
- LossPay evaluates this impact using verified vehicle data, repair documentation, and market valuation benchmarks.
- Diminished value is defined as the difference between the vehicle's resale value immediately before the accident and its resale value after repairs have been completed.
Process
How the Claims Assessment Works
01
Claim Intake and Verification
LossPay confirms policy eligibility and verifies that the reported incident meets the definition of a qualifying repair event under the policy.
02
Documentation Review
Supporting documentation is reviewed to confirm the accident, repairs, and vehicle condition. Additional documentation may be requested if required to complete the evaluation.
03
Vehicle Data and Market Analysis
The vehicle is analyzed using VIN-based data and market valuation inputs to determine pre-accident and post-repair market value.
04
Claim Determination
LossPay determines whether a payable diminished value loss exists under the policy and calculates the amount based on the selected coverage limit and deductible.
05
Payment Processing
If a claim is approved, payment is issued after the assessment is completed and proof of loss requirements have been satisfied.
Status
Claim Status Timeline
Claim Submitted
Documentation Review
3
Vehicle Value Assessment
4
Claim Determination
5
Payment Processing
Policyholders can track claim progress at any time through the claims portal.
Important Coverage Information
Please review before filing a claim
- LossPay coverage applies only to diminished value resulting from a qualifying repair event.
- This policy does not cover physical damage repairs and does not apply when a vehicle is declared a total loss by the primary insurer.
- All claims are evaluated according to the terms, conditions, exclusions, and limitations contained in the issued policy.
Need Assistance?
CLAIMS SUPPORT
Phone
1-833-LOSSPAY
claims@losspay.com