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Case studies, expert insights, and essential tips to help you navigate diminished value and total loss settlements.
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
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
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
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
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
In the state of Oregon, the statute of limitations for collection of diminished value is six years from the date of the loss. Even if you’ve already settled for injury and damage to your vehicle, you still are able to
In the state of Texas, if you were in an auto accident and not at fault, the law allows the recovery of diminished value. The statute of limitations for collecting your diminished value in Texas is two years. Texas is
In Florida, the statute of limitations to recover diminished value on your vehicle is 4 years. Under the Florida statutes, a vehicle owner can pursue a claim for diminution from the negligent party who caused the accident, typically by filing
An owner of a 2017 Jeep Wrangler Sahara 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
