Atlanta Diminished Value Claims
Diminished Value of Georgia is an expert in handling insurance claims anywhere in the Atlanta metro area.
What is Diminished Value?
Loss in value, otherwise known as Diminished Value, is the reduction in resale value a vehicle suffers after being repaired from an accident or collision. Auto buyers will not pay the same amount for wrecked and repaired vehicle as they would for an undamaged counterpart.
For many years, 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 much lower than the actual loss amounts saving the carrier millions of dollars at the expense of accident victims.
What is 17c?
The 17c formula, named after paragraph 17 of the Mabry v State Farm court case (Georgia Supreme Court FILE NO. SU 99 CV 4915, 12/01/00) caps the loss in value at 10% of the vehicle’s book value.
Not only is 10% arbitrary and too low, it could not logically apply to all makes and models. It is irrational to maintain that a Ferrari will lose the same percentage a Kia for a given accident. The formula doesn’t stop here, after the initial 10%, the formula deducts for random damage modifiers and unreasonable mileage restrictions.”
What we do?
Diminished Value of Georgia is a licensed appraisal company located in Atlanta that helps claimants in proving their claim by providing them with an independent appraisal report. Insurers are, by law, required to consider all evidence submitted in a claim and therefore will process a higher payment to claimants proving their loss in writing from a third party.
Why hire us?
For the third consecutive year, Diminished Value of Georgia, Atlanta’s #1 auto appraisal company is ranked highest among all automotive services companies in the area.
On Angie’s List, Bridgette Holmes from Atlanta says: “I was thoroughly impressed with how quickly they provided the report and sample demand letter and most important how quickly I received a check to deposit. I had to personalized the demand letter with my name and address and the amount DVG indicated my diminished value was worth.
“I submitted the documents by email to the insurer’s insurance company. From the date I emailed the demand letter, they sent me a release form, and receiving the check at my home mail box was exactly five days.”
Another reviewer on Angie’s list, Jason Reece from Waleska said: “The insurance company I was dealing with is notorious for fighting DV claims and paying less than the appraised amount when they actually do pay. But they couldn’t refute the appraisal from DV of Georgia because it so thoroughly documented their procedure and calculations. Without it, I would have been lucky to see a penny more than the ridiculous $179 check they originally sent (which I sent back with my Demand Letter).” Jason gave Diminished Value of Georgia an overall Grade A.
When answering questions about our appraisal company, the following answers were given:
- How much did the final cost compare to the original estimate? right on
- How does the value of the work compare to the price? I got more than my money’s worth
- How far in advance did you schedule the work? within a week
- Why did you choose this contractor? reputation
- Have you used this company before? this is the first time I’ve used this company
- What did you like most about this contractor? Expertise and reputation
- What did you like least about this contractor? Nothing
- What words of advice would you give other members considering this contractor? You can’t go wrong with them! They will support you through the entire process.
- What words of advice would you give this contractor? Keep up the good work!
Diminished Value of Georgia also received the prestigious Best of Kudzu award for 2012, having a 5.0 score for all it’s reviews.
Judy K from Atlanta said: “I was unfamiliar with diminished value until my recent auto accident. My insurance company almost immediately, without explanation, compensated me $697 for DV. I tried to negotiate with them for more, but got nowhere. I began to educate myself on DV and found Antoine’s web site to be extremely informative. Antoine very patiently answered all my questions and educated me on all the details I needed to pursue additional DV. He gave me the tools to demand what was rightfully due in additional monies, and he negotiated a settlement with my insurance company’s DV Adjuster for $3200. Thank you Antoine and Kevin! I will highly recommend your services! ”
If you’re ready to move your claim to the next level, please fill out the diminished value questionnaire below for a free quote.