Diminished Value in Florida: A Silverado Owner’s $4,675 Recovery Story
When accidents happen, the repair bill is only part of the financial hit. In Florida, many vehicle owners are unaware they may also be entitled to compensation for diminished value—the lost resale value that remains even after repairs. In this case, a 2024 Chevrolet Silverado with just over 21,000 miles on the odometer suffered significant structural and suspension damage. Thanks to a third-party appraisal from DVAC, the owner recovered $4,675 in diminished value that could have gone unnoticed.
Vehicle Overview
Make/Model: 2024 Chevrolet Silverado
Location: Florida
Accident Type: Structural and suspension damage
Mileage at Time of Accident: 21,073 miles
Repair Cost: $17,150.11
Diminished Value Status: Appraised by DVAC
This Silverado sustained significant structural and suspension damage despite being just one year old with relatively low mileage. While the Carfax report labeled the damage as “moderate,” it failed to document critical repairs. DVAC’s independent appraisal uncovered a $4,675 loss in diminished value, helping the owner protect their long-term resale equity.
Why a Professional Appraisal Matters
Insurers often rely on internal estimates that don’t reflect the full picture. In this case, the Carfax Vehicle History Report inaccurately labeled the accident as “moderate damage,” failing to note the extensive frame and suspension repairs needed. The repair total came to over $17,150 including tax—a significant amount, especially when structural integrity is involved.
Without an objective appraisal, the vehicle’s long-term value would have been understated. DVAC’s independent, data-backed report accurately assessed the true loss in market value, giving the Silverado owner the documentation needed to pursue rightful compensation.
The Hidden Cost of Inaccurate Damage Reporting
One of the most common hurdles in diminished value claims is the underreporting of damage on services like Carfax. In this case, while multiple areas of the Silverado were damaged—including the right front, right rear, and frame—Carfax only listed “moderate” severity and did not acknowledge the structural and suspension repairs.
This kind of incomplete reporting can reduce how much an insurer is willing to offer—or worse, lead to a claim being denied altogether. Dealerships and future buyers, however, will still see a record on file. Without a third-party appraisal to challenge the narrative, sellers lose leverage during trade-in or resale.
DVAC’s Approach: Fast, Accurate, Unbiased
What sets DVAC apart is our rigorous process:
Objective third-party valuation with no conflicts of interest
Market-based pre-accident value pulled from J.D. Power, KBB, and other sources
Full documentation to support claims with insurers or legal counsel
Quick turnaround with personal support throughout the process
In this Silverado case, DVAC confirmed an inherent diminished value of $4,675, giving the owner a strong foundation for negotiating a fair settlement.
Diminished Value Rights in Florida
Florida recognizes diminished value claims, especially when another party is at fault. However, vehicle owners must initiate the process themselves—insurance companies aren’t obligated to volunteer compensation unless prompted with supporting evidence.
This is where DVAC’s service becomes critical. With Florida-specific knowledge and a proven track record, DVAC helps ensure that vehicle owners don’t leave thousands on the table.
Conclusion: Don’t Let Unclaimed Value Slip Away
The reality is that even well-repaired vehicles lose value after an accident—especially when structural damage is involved. DVAC gives you the tools to claim what’s rightfully yours. Ready to find out how much compensation you might be missing? Contact DVAC today for an objective, data-backed diminished value appraisal.
