Diminished Value Insurance Claims: |
Call today
404-643-9123 |
What is Diminished Value?
Diminished Value is the loss in value that a wrecked and repaired vehicle has sustained for having been involved in an accident. There are generally two accepted types of Diminished Value.
|
Do I qualify for a Diminished Value Claim?
Diminished value isn't a clear cut yes or no answer. There are some nuances. For example, the newer the vehicle and the more severe the damage is, the more likely it is that you have suffered diminished value. If your vehicle is older, was in poor pre-loss condition, or has a previous accident in its history, the less likely it is that you will have suffered a loss in value. Prior accidents and minor damages do not immediately mean that you have no diminution of value, but they typically reduce the amount of the loss suffered from a current accident. Dempsey Appraisal Service takes each claim on a case-by-case basis so feel free to reach out to us for a free review to see if you qualify for your loss of value claim!
How Do I go about claiming Diminished Value?
Collecting Diminished Value from an insurance company can be a frustrating, difficult, and lengthy process and in my opinion, this isn't a fluke. It is advised that you use the services of a professional Diminished Value claim specialist to help you navigate this nuanced process. Diminished Value has been recognized as law; however, the insurance industry has placed every obstacle possible in the way in order to avoid paying customers for this legitimate damage. For years, the auto insurance industry has denied owing for this damage and, more recently, has even enlisted the aid of Departments of Insurance in various states to keep from paying this damage to policyholders. With our assistance, there are still opportunities for you to collect the full amount of the Diminished Value of your repaired vehicle.
What is the 17c formula?
In short, it is a calculation that was pulled out of thin air and utilizes a single piece, yes one single piece, of market data, the vehicle's value prior to the loss. The remainder of the formula is a designed to reduce the diminished value the insurer owes. Period.
Diminished value isn't a clear cut yes or no answer. There are some nuances. For example, the newer the vehicle and the more severe the damage is, the more likely it is that you have suffered diminished value. If your vehicle is older, was in poor pre-loss condition, or has a previous accident in its history, the less likely it is that you will have suffered a loss in value. Prior accidents and minor damages do not immediately mean that you have no diminution of value, but they typically reduce the amount of the loss suffered from a current accident. Dempsey Appraisal Service takes each claim on a case-by-case basis so feel free to reach out to us for a free review to see if you qualify for your loss of value claim!
How Do I go about claiming Diminished Value?
Collecting Diminished Value from an insurance company can be a frustrating, difficult, and lengthy process and in my opinion, this isn't a fluke. It is advised that you use the services of a professional Diminished Value claim specialist to help you navigate this nuanced process. Diminished Value has been recognized as law; however, the insurance industry has placed every obstacle possible in the way in order to avoid paying customers for this legitimate damage. For years, the auto insurance industry has denied owing for this damage and, more recently, has even enlisted the aid of Departments of Insurance in various states to keep from paying this damage to policyholders. With our assistance, there are still opportunities for you to collect the full amount of the Diminished Value of your repaired vehicle.
What is the 17c formula?
In short, it is a calculation that was pulled out of thin air and utilizes a single piece, yes one single piece, of market data, the vehicle's value prior to the loss. The remainder of the formula is a designed to reduce the diminished value the insurer owes. Period.