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 […]
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 […]
Diminished Value Case Study: 2020 Toyota Tacoma
The owner of a 2020 Toyota Tacoma was hit by an at-fault; uninsured hit and run motorist causing just north of $7800 in damage. Fortunately the hit and run motorist was apprehended. The damaged vehicle was properly restored to pre-accident condition under the owner’s uninsured motorist coverage as appropriate. Once restored to pre-accident condition, the […]
Diminished Value Case Study: 2020 Toyota 4Runner
A customer with a 2020 Toyota 4Runner with 10,234 miles on the clock was hit by an at fault insured driver. The at fault insurance company covered $12,679.63 in collision damage restoration costs as required. When the vehicle owner inquired about a diminishment of value (DOV) settlement, she was met with delaying and stonewalling tactics […]
Diminished Value Case Study: Tesla (Uninsured Motorist Coverage Situation)
The owner of a 2019 Tesla Model 3 was hit by an uninsured drunk driver. At the time of the incident, 12/28/19, the vehicle was a current model year with 6066 miles on the clock. The insurance company paid for the repairs under his uninsured motorist coverage. The repairs were completed in a satisfactory manner […]
