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Recover the True Value of Your Vehicle.
Statute of Limitations to File:
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Diminished Value Through Uninsured Motorist Coverage:
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OUR PROVEN PROCESS
Start the process with a FREE consultation when you call us at (877) 879-0101 or fill out our Appraisal Form and we will contact you within minutes!
We analyze data to determine your vehicle’s true diminished value and deliver a quick, accurate appraisal that insurance companies can’t ignore.
We don’t stop at a report. We advise and support you through negotiations every step of the way until you receive your rightful compensation.
Experiencing a vehicle accident is a distressing event that can leave lasting effects. It’s crucial to handle the aftermath with composure and a clear plan of action to safeguard yourself and others involved. Whether it’s a minor bump or a major collision, understanding the steps to take can significantly impact your recovery process. In addition […]
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Diminished value is recoverable by both a third-party who’s at fault and by your own policy’s underinsured motorist coverage. The statute of limitations is 3 years from the date of the accident. Section 16020
Judicial Council of California Civil Jury Instructions (2024 edition)
3903J. Damage to Personal Property (Economic Damage)
[Insert number, e.g., “10.”] The harm to [name of plaintiff]’s [item of personal property, e.g., automobile].
To recover damages for harm to personal property, [name of plaintiff] must prove the reduction in the [e.g., automobile]’s value or the reasonable cost of repairing it, whichever is less. [If there is evidence of both, [name of plaintiff] is entitled to the lesser of the two amounts.] [However, if you find that the [e.g., automobile] can be repaired, but after repairs it will be worth less than it was before the harm, the damages are (1) the difference between its value immediately before the harm and
its lesser value immediately after the repairs have been made; plus (2) the reasonable cost of making the repairs. The total amount awarded may not exceed the [e.g., automobile]’s value immediately before the harm occurred.]
To determine the reduction in value if repairs cannot be made, you must determine the fair market value of the [e.g., automobile] immediately before the harm occurred and then subtract the fair market value immediately after the harm occurred.
“Fair market value” is the highest price that a willing buyer would have paid to a willing seller, assuming:
1. That there is no pressure on either one to buy or sell; and
2. That both buyer and seller have reasonable knowledge of all relevant facts about the condition and quality of the [e.g., automobile].
Even after repairs, your car may lose resale value due to its accident history—known as diminished value. Many buyers avoid damaged vehicles or expect a discount, but you have the right to file a diminished value claim. Some insurance companies won’t inform you of your right to an independent appraisal and often minimize payouts. With accurate data and a strong claim, DVAC ensures you get the compensation you deserve.
You should pursue a diminished value claim once your vehicle is fully repaired to pre-accident condition. Experts calculate diminished value 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 vehicle after repairs, and a review of the Carfax are a few important factors in determining diminished value.
Recovering diminished value from the at-fault insurance company can take as little as a few days. However, some claims may take weeks—and in rare cases, months. The timeline depends entirely on the insurance company’s diminished value policy. One thing remains constant: DVAC will stay involved throughout your DOV claim, offering advice and support.
If your vehicle has been totaled in an accident, how do you determine a fair settlement? The insurance company has their figure, and you have yours. DVAC helps bridge that gap by guiding you to a realistic, mutually agreeable number backed by comprehensive market research. We compile a total loss report that includes all of our findings and your vehicle’s actual cash value.
We equip each diminished value appraisal report with a vAuto market analysis, NADA Archival Valuation, and a complimentary Carfax. vAuto captures 100% of all U.S. sales data for any vehicle. Using this powerful tool, we compile an extremely accurate pre-accident value and assess diminished value based on the nature of your vehicle’s repair records. We also include a detailed photo file and the final bill from the body shop. Once everything is compiled, we email you a comprehensive 20–30 page diminished value appraisal report.
The IRS requires a professional appraisal for any vehicle worth more than $5,000 if you want to claim a tax write-off. While vehicles under $5,000 don’t need an appraisal, we still recommend getting one to help avoid a potential audit.
Insurance companies rely on appraisals to determine the fair market value of your collectible vehicle. A certified appraisal from a licensed appraiser strengthens your claim and helps ensure the insurer pays you the full compensation you deserve in the event of a collision.
The requirements can vary depending on your lender. Some institutions may ask for an independent appraisal to verify the true market value of the vehicle you plan to purchase.
What about “Certified Used Vehicles”?
Many dealerships now offer “Certified Used Vehicles” on their lots, but each one sets its own policies and standards for certification. In many cases, dealers look closely for even minor damage history to disqualify your trade-in from meeting their “certified” criteria. As a result, they may offer you less than if your vehicle had a clean title. DVAC can help you recover that lost value through a diminished value claim.
If an accident has damaged your vehicle and you’re concerned about its true value, call DVAC Diminished Value Appraisal Claims at 877-879-0101 for a FREE consultation. If you’re ready to start the process, start your appraisal now! You can also check out our blog for more case-specific information.
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