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Recover the True Value of Your Vehicle.
Statute of Limitations to File:
File First Party Claim:
File Third Party Claim:
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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Michigan law DOES NOT require insurance companies to pay for diminished value, but you may still be able to recover up to $1,000 from your insurance company under the state’s ‘no fault mini-torte’ statute. The statute of limitations is 3 years from the date of the accident. MCLA 500.3135(3)(e).
500.3135 Tort liability for noneconomic loss; exceptions; cause of action for damages;
The Michigan mini tort law’s maximum recovery limit is up to $3,000.00 for damages that are not covered by insurance.
If you use the mini tort to recover damages, you must prove that the other driver was at-fault. (MCL 500.3135(3)(e)).
The action must be commenced, whenever legally possible, in the small claims division of the district court or the municipal court. If the defendant or plaintiff removes the action to a higher court and does not prevail, the judge may assess costs.
There’s a possibility that you may be able to recover some diminished value using the mini tort law, but $3000 is the limit.
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.
A Total Loss Settlement in Tennessee must reflect the true market value of the vehicle immediately before the loss. In this case, DVAC completed a comprehensive Total Loss Claim appraisal for a 2011 Acura MDX and determined a final Total Loss value of $6,630, excluding tax, title, and tag fees.
A Total Loss in North Carolina requires a precise, data-backed valuation to ensure the vehicle owner receives a fair settlement. In this case, DVAC completed a Total Loss Appraisal for a 2017 Ford Focus ST and determined a final value of $11,515. Insurance carriers often rely on automated valuation systems.
A Total Loss in Michigan can create immediate financial stress, especially when the insurance company’s settlement offer does not reflect true market value. In this case, a 2015 Chevrolet Silverado 1500 LT Crew Cab 4WD was declared a total loss following a serious multi-impact collision with airbag deployment in December
