Navigating Diminished Value Settlements for Boat Damage
Whether you’re cruising through tranquil waters or enjoying a day of fishing with friends, owning a boat can bring endless joy and adventure. However, accidents happen, and when your beloved vessel sustains damage, navigating the process of seeking compensation can be daunting. One avenue for reimbursement that boat owners often overlook is diminished value settlements. […]
The Importance of Vehicle Appraisal After an Accident: Protecting Your Investment and Ensuring Fair Compensation
An automobile accident can be a jarring and stressful experience, often leaving you with not only physical and emotional repercussions but also financial implications. Whether it’s a fender bender or a major collision, having your vehicle appraised after an accident is crucial. While it may seem like an additional hassle during an already challenging time, […]
Navigating the Aftermath: What to Do When You’re in a Vehicle Accident
Experiencing a vehicle accident is a distressing event that can leave lasting effects. It’s crucial to handle the aftermath with composure and a clear plan of action to safeguard yourself and others involved. Whether it’s a minor bump or a major collision, understanding the steps to take can significantly impact your recovery process. In addition […]
Diminished Value Case Study 2021 Toyota Tacoma
A client was recently involved in a wreck in his 2021 Toyota Tacoma TRD Off-road. His truck incurred just under $20,00o in damage restoration repairs. The vehicle sustained severe body/frame damage and underwent 2 hours of frame set up / 2 hours of chain pull to re-align the buckled frame. […]
Diminished Value: Do Your Homework
Ok, your vehicle has been damaged by an at fault insured driver. Once the at fault insurance company has accepted liability, you are ready to proceed. BTW, a deer running into your vehicle or other “acts of God” do not qualify for diminished value settlement. The key point here is that neither God nor the […]
Diminished Value: You Are Legally Entitled to it!
At fault insurance companies often make comical responses when it comes to Diminishment of Value (DOV) claims. I think my favorite is “you are a 3rd party so you can’t invoke the appraisal clause and compel us to settle your DOV claim”. This is after they have just paid for your damaged vehicle to be […]
Monkey in the Middle
Ok, you’ve just been in an accident that you were not at fault. Even though you could have your claim handled by the other person’s at fault insurance company you might want to have the claim handled by your own insurance carrier. Why? Do you want to be monkey in the middle on matters pertaining […]
Diminished Value Case Study: A Drunk and Uninsured Driver
A drunk; unlicensed and uninsured driver rear-ended this truck. She was towing her boyfriend’s boat on the interstate. The uninsured; at fault driver hit the boat so violently that it ended up in the bed of the young lady’s truck. This unfortunate incident caused extensive damage to the truck, boat and trailer. The trailer hitch […]
Uninsured Motorist Diminished Value Situation
We are often contacted when the at fault driver was a hit and run or uninsured/under insured motorist. How is Diminishment of Value (DOV) handled in these situations? Check your auto policy, make sure that you have an uninsured/underinsured motorist endorsement. (If you are financing your vehicle, this coverage is almost always required). Assuming […]
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 […]
