Exotic Sports Car/Boat Diminished Value Situation
A Ferrari was hit by an at fault insured driver from behind pushing her into the boat. This was a complex liability situation. There was collision damage sustained by the Ferrari and the boat. These were paid by the at fault driver’s insurance carrier as appropriate. What about Diminished Value!? DVAC was retained by the […]
Diminished Value Scenario with Previous Accident
DVAC is often contacted by those who have been improperly denied a diminishment of value (DOV) settlement because of a previous at fault incident. What is the correct way to respond to this issue? When DVAC handles multiple incidents we must calculate the correct DOV on the first incident before calculating subsequent incidents. Often this […]
Diminished Value: Market Fact vs. Opinion
How many times have I heard insurance adjusters say: “ Diminished Value figures are just opinions, prove it!” Well, in fact, some appraisers reports are just that, opinions that are not market based. Is it any wonder that so many of these “opinion based” DOV reports end up in court, wasting so much time effort […]
Diminished Value Case Study 2017 F-250
The owner of a 2017 Ford F-250 Lariat with crew cab and a diesel power plant had his truck hit and totaled by an at fault; insured driver. With only 61k miles on the clock, the truck was in pristine condition prior to the incident. Additionally, the owner had over $5k of documented upgrades with […]
Diminished Value Case Study: 2018 Ferrari 488 GTB
A customer with a 2018 Ferrari 488 GTB with 5,369 miles on the clock was hit by an at fault insured driver. The at fault insurance company covered $57,906.38 in collision damage restoration costs as required. When the vehicle owner inquired about a diminished value (DOV) settlement, he was met with delaying and stonewalling tactics […]
Stated Value Policy: Why It Is Important
DVAC was recently contacted by the owner of a highly modified Ford F-350. The vehicle had over $20k worth of high quality modifications: ceramic exhaust system; heavy duty upgraded suspension; special wheels and tires, just to name a few. Unfortunately, the owner was in an at fault first party incident that totaled his truck. “No […]
Diminished Value Case Study: 2021 Subaru
Our client was hit by an at fault insured causing $7235 in damage to his brand new 2021 Subaru with only 489 miles on the clock. As appropriate, the at fault insurance covered the collision repairs including two supplemental changes. When our client inquired about a diminished value settlement they at first denied it; then […]
Diminished Value Case Study: 2019 Jeep Wrangler
An owner of a 2019 Jeep Wrangler Unlimited had his vehicle damaged by an at fault; insured driver. The insurance company paid $9752.33 for the collision restoration, but when the Jeep’s owner inquired about diminished value the adjuster stated “your vehicle hasn’t lost any value, but as a courtesy we will give you $500.” At […]
Insurance Customers Can Challenge The Repair Estimate
NORTH CAROLINA, SOUTH CAROLINA,MARYLAND, TEXAS, NEW YORK, WISCONSIN, ILLINOIS, NEVADA are just a few of the states you can challenge anything about your auto claim. Repair cost, repair procedures, parts, repair vs replace, PDR vs conventional, storage fees, admin fees, loss of use, the vehicle value. If the insurance company is giving you a hard […]
Autobody Shop Selection
All vehicles manufactured in the last five years have specific mechanical and body repair procedures. In fact, many, like BMW, Lexus, Mercedes and TESLA require that their vehicles be repaired in a certified repair facility staffed by highly trained technicians. Onerous ongoing training and certification is required. Proper autobody repair can only be done by […]
