Expert Car Appraisal for Diminished Value

File a DV Claim to Recover a Vehicle’s Loss in Value

If you’ve been in a wreck that was not your fault, you should get a car appraisal for diminished value and file a dv claim as soon as possible. A diminished value claim can help you recover the loss in value your car will incur as a result of the accident.

A diminished value report from a professional appraiser helps prove your case against an at-fault driver’s insurance provider. Diminished value depends on the severity of the damages endured and the quality and preciseness of the repair. A percentage of its original value can be restored but to what extent must be determined by a recognized diminished value expert.

The difference remaining between the vehicle’s pre-accident value and the restored value is considered the loss-related diminished value, commonly referred to as“DV.”

The reason for loss in market value is simple, Would you buy a car if you knew it was previously in an accident? Most people would give it a hard pass or would only buy at a deeply reduced price–even if the repairs restored the vehicle to pristine, pre-accident condition. Prior accidents reduce the value of a vehicle and must be documented in a vehicle’s history, protecting future buyers. When you sell a car that has been damaged in an accident, you will get less for it, therefore it’s important to receive compensation for diminished value at the time of a loss.

Rear end of wrecked gray Porsche will need a diminished value appraisal

Before

Gray Porsche after repair awaits diminished value appraisal.jpg

After

Mauro D Andrea

It’s simple, Would you buy a car if you knew it was previously in an a previous accident? Prior accidents reduce the value of a vehicle and must be documented in a vehicle’s history, protecting future buyers. When you sell a car that has been damaged in an accident, you will get less for it, therefore it’s important to receive compensation for diminished value at the time of a loss.

When you sell a car that has been damaged in an accident, you will get less for it, therefore it’s important to receive compensation for diminished value at the time of a loss.

The answer most likely heard is NO. A logical buyer would not pay the same for a vehicle with a blemished history report as opposed to a vehicle with a clean bill of health. Even if the repairs were done perfectly, the vehicle will still be valued less and inferior to one that was never in an accident.

Beware of:
1. Instant auto appraisal reports because they carry very little weight with insurance companies.

2. All-in-One Services, which can be very one sided and possibly not in your best interest.

3. Formula-based print outs that don’t include specifics that increase a car’s market value.

4. Non-auto industry (impostor) appraisers that don’t know an LX from an EX or a 6 cylinder from an 8.

5. Internet appraisals that offer cheap prices for a DV amount, produce a simple “DV figure” then charge hundreds more to retrieve the DV report.

6. Services that won’t pick up the phone and talk to you or who charge phone time.

CARFAX and other accident history report services might not report accident information immediately. The actual reporting might not occur for months or even a year or more post-loss.

If you think you have no worries because you ran a report and there was no accident indicator… think again. It will eventually be there and drive down the value of your vehicle. By then, it will be too late to recover diminished value. A dv claim must be filed at the time of the loss.

COLLECTING DIMINISHED VALUE

It’s a Process

Let me preface this by stating I am not a lawyer and if you need legal consultation please contact a lawyer in your state today.

1. Insurance companies usually require the claimant to get an independent appraiser to create a report on the exact vehicle with detailed information that will have specific data such as prior loss values, post loss value, real time sales results, an exact methodology that exemplifies the diminished value amount. The burden of proof here is on the claimant. Having an auto expert with excellent knowledge and a CV that includes years of automotive experience and currently carries an automotive title in a major market always helps.

2.The claimant will usually send the report via certified mail with a letter explaining what they are owed, including any loss of use or expenses related to the claim.

3. Insurance companies will either pay out the claim, counter offer or deny the claim.

4. Since the client is a victim of a loss he has the option to file a suit in small claims court (saving lawyer fees) or a civil lawsuit against the at fault party.

5. A decision will be made based on the evidence provided by both parties.

The support of an auto mediator can become quite essential from the get go. The entire process definitely runs smoother when support from a knowledgeable mediator is at hand.

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Why choosing an “Expert” is your most important decision

Whatever you do in processing your claim get the report done by a qualified auto appraiser. This can harm your claim throughout the process and cost you more money than you expected. This is not a race you want to start behind in and you will find that a good appraiser is worth his weight and will provide down the line. If you do not select us we can gladly recommend alternate auto appraisers that are competent and fully qualified that are responsible.

When you receive constant push-back from the insurance company and there is no avail other than to try your case in court (civil or small claims), a judge will most likely decide the case based on your extremely strong evidence.

This is where an expert with experience, training, a specific knowledge of the subject matter, technical background in the valuation process of vehicles, specialized skills in pricing and someone who is currently involved in the automotive auction process as well as a skilled mediator properly trained by the best university in the country for dispute resolution will help in the practical proof of your claim.

In some states mediation is mandatory prior to trial and this can be very important in utilizing our mediation knowledge and guidance. Most importantly you need to be prepared for your claim and our support will help guide you through the process. If need be (optional-court fees apply) we can act as Expert Witness in your case but this service is not mandatory.

TESTIMONIALS

From Our Clients

I was very happy when after submitting Auto Mediator's Diminished Value report the other side immediately acknowledged his expertise and his brand. I was able to recover the fair amount $70,000+.

Maria B

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Our Law firm recently obtained a record settlement of $87,350 for diminished value and loss of use to a 2017 Porsche 911 Turbo S based on Steve's report.

Russ Kerr
– Kerr and Sheldon law firm

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