Want to know how to get the most out of your diminished value (DV) claim? Here’s the answer in three words: expert auto appraisal.
If you’ve been the victim of an accident in which your high end vehicle sustained damage, the only way to recover the maximum value of the vehicle is to file a diminished value claim.
You may think that once the claim has been turned in and the insurance companies are hashing it out that your part is done; you just have to wait for the check. In most cases that’s largely the case, but if, for example, your car is an expensive luxury vehicle or a rare classic model, you stand to lose a lot of money if you don’t file a diminished value claim with the at-fault driver’s insurance company.
Why File a Diminished Value Claim?
Here’s what generally happens if you don’t file a DV claim: you’ll drive around in a rental car while you wait for your car to be repaired. You get the check covering damage. You go on with your life.
But–and this is a big but–when it’s time for you to sell that vehicle, be prepared to lose thousands of dollars on the deal because of the accident in the vehicle’s history report. Buyers see a wreck in a car’s history and automatically view it as damaged goods. Even if the car is in perfect condition, the stark fact that it was once in an accident and repaired causes a steep drop in its resale value.
That is the exact reason you need to file a DV claim if your valuable vehicle has been wrecked and you are not the driver at fault. Diminished value claims help vehicle owners recover the difference in a vehicle’s market value from before the accident to after repair work is completed. For some vehicles, the difference in pre- and post-accident values can drop tens of thousands of dollars.
How to Get the Most Out of a DV Claim
Now that you have a grasp of what’s at stake in a diminished value claim, you need to understand that your best chance of getting the most out of a DV claim is to file it soon after the accident and hire a professional appraiser to create an expert auto appraisal report on the vehicle.
Coming up with your car’s market value for a DV claim is definitely not the time to try and save a couple hundred bucks by using a generic free online calculator or going to a dealer to get an appraisal.
An expert automobile appraiser like Auto Mediator will go over every inch of your vehicle with a fine-toothed comb. Auto Mediator has been providing accurate vehicle appraisals for over 25 years, and they can be relied on to help you get the most out of your DV claim.
Special access to exclusive online programs and thorough knowledge of cars, auto auctions, and market trends enable a professional appraiser to accurately value your vehicle. Also, any special modifications and customization as well as maintenance history will be factored into the report–something an online calculator misses.
And it’s those missed details that often cause a free calculator or cheap online appraisal to undervalue your vehicle, sometimes by thousands of dollars
A professional appraiser provides a report that is hard for an insurance company to dismiss. But, if they’re in the mood to contest your claim, Auto Mediator also provides mediation (umpire) services or, if it comes to it, expert witness, should the case come before a judge.
If you’re serious about making the most of your diminished value recovery, turn to Auto Mediator. Their spot-on appraisal can help you recover your vehicle’s pre-accident value.