1/28/21 DOV Case Study
The owner of a 2020 Toyota Tacoma was hit by an at-fault; uninsured hit and run motorist causing just north of $7800 in damage.
Fortunately the hit and run motorist was apprehended. The damaged vehicle was properly restored to pre-accident condition under the owner’s uninsured motorist coverage as appropriate. Once restored to pre-accident condition, the vehicle owner inquired about a Diminishment of Value (DOV) settlement. His insurance company incorrectly informed him that he could not request a DOV settlement from his own insurance company. DVAC was retained at this juncture. We immediately straightened out the insurance company’s liability and produced a DOV settlement appraisal report for the owner. The appraisal clause was invoked and DVAC negotiated/settled with the insurance company’s objective third party appraiser. We agreed that $7250 was the correct DOV settlement. A check was sent to the insured owner post haste. It pays to hire a licensed professional.