Appraisal Engine releases its annual report: More than 11,200 retail customers served.
Appraisal Engine Inc., the highest-ranked vehicle valuation firm in the southern U.S., is celebrating a record year of helping consumers earn their rightful compensation from insurance carriers. In 2017, Appraisal Engine received assignments from more than 11,200 accident victims, with an overwhelming majority receiving compensation substantially higher than the amount initially offered by their insurance company.
Appraisal Engine provides insurance claimants with vehicle valuation reports that properly quantify the loss in value or the cash value of their automobile after an accident or incident. The valuation reports are then submitted to insurance carriers who, by law, are required to consider them as evidence in the claims.
For over a decade, insurance carriers have been underpaying diminished value claims by compensating claimants using an erroneous and inaccurate formula called 17c. This percentage-based formula yields values that are much lower than the actual loss amounts, consequently saving the insurance carriers millions of dollars at the expense of accident victims. Appraisal Engine ensures its customers are receiving their fair compensation from the insurance companies. Because it is unlikely that a potential car buyer would pay the same price for a damaged vehicle as one of the same model that has not been damaged, it is critical that accident victims file a claim for diminished value.
Through its subsidiaries, including Diminished Value of Georgia, Appraisal Engine helped its customers achieve $23 million in insurance settlement increases. According to appraisal expert and Appraisal Engine founder, Tony Rached, most of the company’s vehicle appraisal amounts are between $2,500 and $3,000. This is considerably more than the average two to three hundred dollars offered by the insurance companies. Mr. Rached notes, “Appraisal Engine’s valuations are, by far, the most effective way to increase an insurance payout and give accident victims what they are rightfully owed.”
In addition to Diminished Value, Appraisal Engine helps clients with totaled vehicles recover the true market value of their automobiles. Mr. Rached notes an uptick in business after the major flooding causes by Hurricane Harvey and Irma.