Diminished Value

We provide free diminished value estimates and consultations. We are the industry leaders in diminished value appraisal reports and claims. For a free estimate visit http://www.diminishedvaluereport.org

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What States Can You Claim Diminished Value In?

The state laws in the United States make it possible for you to claim in every state and territory if you are not at fault. If you are at fault you can still claim for first party dv in Georgia, Washington, North Carolina and Kansas.

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The Scary Truth About Diminished Value Appraisers

In short diminished value appraisals are not a state licensed market. So why do many say they are certified appraisers? This is the even worat news, no experience individuals can pay a membership to an association, pay an exam and get a worthless certificate or better yet open a corporation and say it is an association for apprasers or diminished value. Now what protection do consumers actually have then? They are only protected with individuls that are state certified adjusters or damage appraisers. We are 50 state licensed adjusters with full state certification in car financing, warranty, auction wholesale and dealer retail sales. What difference does it make you ask? When you go to court or when the insurance company asks it is thr only thing that will make or break your diminished value evaluation. An expert is a person experienced in the field they are working in and have atleast 10,0000 hours of experience in the field. We prepare court declarations if needed and can even serve as an expert witness which most dv companies wont because of the fraud they comit when they sell you a report but unless the report is a minimum of $100 it does not fall under consumer fraud statutory guidlines.

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The Diminished Value Report and Why You Need It?

The first question that comes to mind when looking into getting a professionally prepared report is why do I need one? The answer should be easy but must people don't like easy and complicate their lives. A car owner alike a dealer is biased and not an expert, a car dealer's primary purpose is to make as much money as possible and pay ypu as little as you are willing to accept and you the car owner are emotional and either get mad or have looked online at Naaa, Kelly blue book or even edmunds and thinks they know the real value of their car. First off 90% of dealers use Black Book which is not free or available to consumers and secondly carfax is used by individuals the insurance copany uses CLUE database and most car dealers use Autocheck not Carfax. So there are many things to take into account when performing a diminished value report appraisal which is one big factor, you are not an expert and the insurance company eithet wants to deny your claim or pay you a 17c formula, worse yet is when they come up with a random number from $1.00-500.0 and say that is the maximum they will pay. Unless you have an expert repirt with a signature and i'm not talking about an instant report for $14.99. I am talking about a USPAP compliant, Daubert Standard, IRS approved diminished value appraisal you have no legal proof in the eyes of the insurance company or the law.

I will give you a couple examples with 17c and with non 17c simply using NADA as a book value. I just appraised a Porsche 1986 collectable Targa top valued at $45,000. The car had structural damage and according to 17c the car would have dv of $4,500.00/NADA book appraisal would put it at $10,000.00 but the actual dv was 28,000.00 Now on a new Toyota Camary with Moderate damage it would be something like this. 17c $200.00 / Nada $750 and actual market valuation of dv is about $2,500 So you see diminished value is not something to be played with it is thousands of dollars for a simple mistake or assumption.

[autotechcollision]

The dangers of Insurance Co. steering repairs

When an insurance company pushes you to have your vehicle repaired at a bodyshop other than the one you have chosen, that’s steering.

You have the legal right to have your vehicle repaired at any shop you choose and the insurance company is required by law to pay the reasonable cost to repair the damage according to the limits set forth in your policy.

Even if the shop you have chosen is not on the insurance company’s program, you still have the right to have your vehicle repaired wherever you choose and the insurance company is legally obligated to pay the reasonable costs to repair it.

Insurance adjusters are very aware of the steering laws and some have become very adept at using the right wording to stay just clear of the line. For instance…

The adjuster may tell you that you can use your bodyshop but that your shop has been known to overcharge and you may have to pay out of pocket for repairs done there. If a reputable autobody shop presents you with a bill for a portion of the repairs that should have been covered by the insurance company you should know that it was not done without first fighting hard on your behalf with the insurer. Some insurers try to intimidate shops to cut corners on repairs – something no reputable shop would do. If this happens to you, you should know that often the insurer will reimburse you for any amount you pay out of pocket if you simply request it. They know they are legally responsible, they simply don’t want to go on record as giving in to the shop so they can continue to try to intimidate others.

The adjuster may tell you that repairs will be delayed unless you use the shop they want you to. Most repair delays happen because the bodyshop is waiting for your insurance adjuster to come to the shop to approve the repairs.

The adjuster may tell you that they won’t guarantee the repairs unless you use the shop they want you to. A good shop will provide its own guarantee. A great shop will provide you a lifetime guarantee on all the work they perform for as long as you own the vehicle.

If you have chosen a reputable autobody shop and the insurance company is balking at your decision, it is very likely that your biggest worry should be the insurance company you chose not the shop.

[diminishedvalueappraisal-blog]

What is diminution in value?

Whenever you are involved in a car accident, your car goes down in value and the value lost is called diminished value. The loss in value is caused because of an idea or a stigma attached to a car that has been involved in a car accident.

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Free Diminished Value Estimate

We will provide you a free diminished value consultation and free dv estimate. No charge, no obligation. All we need is your repair report and a few simple questions and you can make the best choice. we offer manual estimates, we never automate in order to give you peace of mind that we don’t guess it is all done by an expert appraiser.  http://www.diminishedvaluereport.org/diminished-value-estimate/

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Diminished value calculator, calculations and 17c

The first thing is there is no actual law on how to calculate diminished value but there is accurate caculations and then arbitrary formulas that don’t pass the legal daubert standard. Most formulas that have been created are used for inatant reports based off of 17c which either don’t accurately assess damage by grouping panel or bumper damage with structural/frame and unibody damage as the same severity or uae double deductions for year, mileage and even msrp. The truth is the only real way to assess market value is you must have historical values on thr actual sales not posted sale price then get the difference between the highest and lowest values to create a valuation floor and then get the pre-loss value by studying the market zip code area sales. After all that is done you go into the actual severity of damage by breaking down the samage severity and that is needed to be done by an expert. The main problem with diminished value is there are many fake associations and fake certifications where you pay to become a member and give you a so called formula, or association certificate that makes people think that the company is approved for accurate appraisals. Even the BBB is a paid independently owned organization which many people believe is some how associated with thr government when in reality it is a yearly $300+ membership a year that says you are certified by them. Get a dree diminished value estimate from an expert at http://diminishedvaluereport.org

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What is a Diminished Value Appraisal ?

An appraisal is proof, made by a third party. If you try to show proof yourself it is biased, it is like being accused of taking a cookie from the jar and saying it was not me, if you have a witness then it shows your story is real. Many people get print outs online or trade in offer from a dealer and it does not work but why. Well you are not an expert and a dealer has financial gain that he will always offer you less to make more money. There are multiple parts to a dv appraisal: It must have comparable vehicles, must be USPAP compliant, must have a signature and not automated instant report, it must pass the burden of proof. DV assessments are cheap but not accurate, dv appraisals are accurate and stand the test of court.

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What types of diminished value exist after a car accident?

There are three types of Diminution in value claims.

1. Instant diminished value is before repairs are made, it is the repair cost plus loss in market value.  

2. Inherent Diminished Value is after repairs are made, the loss of market value because of a bad history report.

3. Repair Related Diminished Value is against the auto body shop or in rare cases the insurance company for bad repairs and possibly cheap replacement parts and paint mismatches.

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Diminished Value Appraisal Reports