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Virginia Diminished Value Case Study

A Virginia based insured driver of a 2019 Cadillac Escalade was hit in North Carolina by an at fault insured driver from Florida. The collision restoration and repairs were paid for by the at fault Florida driver’s insurance carrier. The Escalade was repaired in North Carolina. The Diminishment of Value (DOV) settlement was addressed by DVAC when we were hired by the Virginia Escalade Owner. There was a previous accident on the Escalade’s CARFAX History so that DVAC had to calculate prior to addressing the current DOV incident. DVAC had to invoke the appraisal clause with the at fault Florida insurance company. DVAC settled the DOV claim with the Florida insurance company’s appraiser and a check for $8750 was sent to our client. Complex? Yes. Easy? Nope. All done in less than a month. It pays, on many levels, to hire an Automotive Diminished Value and Total Loss Settlements (Licensed) professional.

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