Diminished Value in Virginia
What is a Diminished Value Claim? Virginia Code §46.2-1600 defines “diminished value compensation” as the amount of compensation that an insurance company pays to a third-party vehicle owner, in addition to the cost of repairs, for the reduced value of a vehicle due to damage. In a diminished value claim, where the property can be […]
Diminished Value in Nevada
Is your auto policy in Nevada? Did you know that can challenge absolutely anything related to the claim? You can challenge repair procedures, repair cost, storage fees, administrative fees, total loss fees and the vehicles value. Nevada has the appraisal clause language in its auto insurance policies. DVAC can help you if you are dealing […]
First-Party vs. Third-Party Accident Claim (When Diminished Value is Accepted)
If you have been in an auto accident and you personally were at fault, 9/10 time you will not be eligible to recover diminished value. This is because you would be filing a first-party claim toward your personal insurance company. In a first-party claim, you have a contractual relationship with your insurance company and you […]
Diminished Value Case Study: Virgina
A Virginia based insured driver of a 2019 Cadillac Escalade was hit in North Carolina by an at fault insured driver from Florida. The collision restoration and repairs were paid for by the at fault Florida driver’s insurance carrier. The Escalade was repaired in North Carolina. The Diminishment of Value (DOV) settlement was addressed by […]
Diminished Value Case Study: 2020 Tesla
A client was referred to DVAC by a respected five star auto-body shop. His brand new 2020 Tesla, with only 3623 miles on the clock, was hit by an insured at fault driver. The at fault insurance company paid $12950 in collision repairs. As is often typical, they told our client that he had “to […]
What is Diminished Value & What Does DVAC Have to Offer YOU?
What is diminished value? Generally, speaking, it is the loss of resale value due to the fact that the vehicle has been in an at fault accident. You are entitled to recover this loss of value with a diminished value settlement from the at fault insurance company. The key to a successful settlement is a […]
Important Questions to Answer Prior to Selecting A Diminished Value Appraisal Company
Where are you geographically located? For example, do you want someone located on the West Coast when you are located in Florida or North Carolina? Are they a licensed diminished value appraiser in your state? Will they walk with you until settlement is achieved and provide case-specific help? Will they go to court if necessary […]
Diminished Value in Ohio
Ohio has a diminished value statute of limitations of two years. If a claim is filed later than two years, the ability to recover diminishment of value is lost. You will be unable to submit a claim for DOV if you were the at-fault party or if your vehicle was damaged by anything other than […]
Diminished Value in North Carolina
North Carolina, drivers have 3 years from the time of the accident to file a Diminishment of Value (DOV) Claim. It is normal for the insurance company to outright deny or only offer a fraction of the actual DOV on your vehicle. The key to a successful DOV SETTLEMENT is providing a licensed, objective third […]
Recent Diminished Value Settlements Recovered
A customer located in New Jersey had a 2017 Porsche 911 Carrera S with 36,233 miles on the clock was hit by an insured; at fault driver. The insurance company paid $11027.58 for repairs, but informed him that he needed to “prove” that his incurred diminished value (DOV) as a result of the accident. He […]
