Diminished Value Appraisal
Often times insurance companies will make lowball offers on your totaled vehicle and many consumers think you have no recourse. That is precisely where DVAC can help! There is likely a significant difference between what your insurance company is offering, and the fair market value of your vehicle! We can help you reach the settlement that you're entitled to.
Call our Diminished Value Appraisal Claim experts at 877-879-0101 now!
What is Diminished Value?
If you've been involved in an auto accident it is very important to know your vehicles true value. You may be entitled to compensation from the at-fault party's insurance company.
Diminished value is the inherent loss of value resulting from a collision. Even though your vehicle is fixed and may appear 100%, it now has the collision and repair on its vehicle history. This can negatively impact resale value.
Estimates reflect that over half of consumers would not purchase a vehicle that had been in an auto accident. over 3/4th of consumers would not be willing to invest in a previously wrecked vehicle unless given a substantial discount.
Insurance companies usually will not inform you of your right to an independent appraisal
In a majority of cases, claimants are not made aware of compensation for diminished value. Insurance companies may say they are "on your side" and that they are advocating for your benefit when in reality they are saving costs on their end. It's very important that you have the necessary information and it is presented appropriately for your claim to be considered. That is where DVAC can help you recover what is rightfully yours.
The DVAC Process
- Submit web inquiry
- Get in touch with us
Intake of Appraisal Credentials
- Repair records
- Accident Photos
- Restored Photos
Receive Diminished Value Appraisal
- DVAC returns same-day licensed appraisal
- Client FWDs appraisal to at fault insurance company
- Our next steps will be determined by their response
Tailored Customer Service
- DVAC advises client
Case specific council
- Involved with all clients from Start --> Finish
Cost of Repair Potential Settlement Range
> $2,000 $1,000-$2,000
> $5,000 $2,000-$5,000
> $10,000 $3,000-$8,000
> $15,000 $4,000-$10,000
> $20,000 $5,000-$15,000+
Potential Diminished Value Settlement Range
Frequently Asked Questions
•What is Diminished Value?
Your vehicle loses its original market value after being in an accident. This in turn makes your vehicular value drop below the initial market value if you attempt to sell it post-accident. Even if you have repaired the damages, you still will have trouble finding a buyer to pay fair market value because of your dirty Carfax record. Therefore, the law allows you to seek a diminished value claim from the at-fault party's insurance company to recoup your lost market value.
•When Should I File a Diminished Value Claim?
It is appropriate to pursue a diminished value claim once your vehicle is fully repaired to pre-accident condition. Diminished value is calculated based on the nature of the damage to your vehicle and overall evidence of repairs. A thorough review of the final bill from the bodyshop, a visual inspection of the repaired vehicle, and reviewing the Carfax are a few important factors in determining diminished value.
•How Long Does The Process of Recovering My Settlement Take?
The timeline of recovering diminished value from the at-fault insurance company can take as little as a few days. It is also not uncommon to see claims span out weeks and in rare cases, months. It all depends on the insurance company diminished value policy. One thing that is constant however, DVAC will remain involved throughout the timeline of your DOV claim for advice and counsel. For more detail on the process, click link below:
•What is a Total Loss Report?
If your vehicle has been totaled in an accident, how do you know what a fair settlement is? The insurance company has their idea of a fair figure, and you have your own idea. DVAC will help you arrive at a realistic, mutually agreeable number based on comprehensive market research. A total loss report will compile all of our findings with an actual cash value on your vehicle.
•What's Included In My Report?
Each diminished value appraisal report is equipped with a vAuto, NADA Archival Valuation, and a complimentary Carfax. vAuto captures 100 percent of all USA sales data on any vehicle. Utilizing this tool, we can compile an extremely accurate pre-accident value and assess the diminished value based on the nature of the repair records. We include a detailed photo file of your vehicle and the final bill from the bodyshop. Once put together, a comprehensive diminished value appraisal report of roughly 20-30 pages is sent directly to your email.
•Been In An Auto Accident?
If your vehicle has been damaged in an accident and you're concerned about its true value, simply call DVAC Diminished Value Appraisal Claims at 877-879-0101 for a FREE consultation. You can also view our blog for more case-specific information.
We’ll work diligently on your behalf to generate a fair vehicle appraisal and help you recoup the value of your automobile
Get A Diminished Value / Total Loss Claim Consultation from one of our Licensed Adjusters
Our licensed public adjusters provide you with personalized up-to-date information regarding your diminished value claim. We will make sure you understand the procedure and what possible compensation is owed to you.
Your Personal Consultation will address the following:
– A comprehensive review of repair costs and estimates.
– An objective determination of whether your vehicle qualifies for diminished value or qualifies for a total loss settlement.
– An approximate range of compensation you may be paid for your loss.