WHAT IS DIMINISHED VALUE?
If you’ve been in a car accident, your vehicle will be worth less in resale than the same model with no collision history—and it doesn’t matter how flawlessly your car was repaired.
Diminished Value is the depreciated value of an automobile accelerated by an accident (collision) or an incident (fire, flood, hail). Automobiles are depreciating assets that normally decrease in value as time goes by; car accidents, on the other hand, hasten the normal rate of depreciation and lead to an immediate and quantifiable loss in value.
You may be entitled to monetary compensation based on your car’s diminished value.
Courts have stated that vehicles involved in an accident suffer an inherent reduction in value, and efficient repairs cannot return said vehicle to its pre-accident condition or value. Most car buyers will avoid purchasing a wrecked and repaired vehicle. The few that do will demand a hefty discount. Buyers tend to be afraid of the long-term implications of a collision, as well as the negative impact on the vehicle history report.
Diminished Value Claim Calculator:
Below is an example of a typical loss-in-value claim.
▪ Vehicle: 3-year-old Lexus Sedan
▪ Damage Type: Collision
▪ Repair Amount: $10,500
▪ Severity: Major structural damage reported
▪ Pre-Accident Cash Value: $27,500
▪ Post-Repair Cash Value: $22,900
▪ Loss in Value: $4,600 – This is the amount the vehicle owner should request from the insurance company.
If you were involved in a recent car accident, please visit Do I Qualify for a Diminished Value Insurance Claim? to find out if you are due monetary compensation.
Why Hire a Licensed Car Appraiser?
To be properly compensated for your loss in resale value, you must hire the most qualified auto appraiser available. Not only should the appraiser be licensed by an official state entity, they should also adhere to a strict code of ethics.
Insurance carriers tend to use an unreliable formula called 17c to settle diminished value claims. Our analysis has proven that the 17c formula is incorrect, unfair, and inherently flawed. The Georgia Insurance Commissioner does not endorse the formula used by insurance carriers. Vehicle owners, unaware of their right to reject and dispute settlement amounts, end up leaving millions of dollars uncollected.
Read the Georgia Insurance Commissioner Directive on Diminished Value.
Why Order a Diminished Value Car Appraisal Report?
To dispute an insurance carrier’s unfair 17c offer, it is your responsibility to submit a USPAP compliant car appraisal report to the insurance company to document your loss.
Diminished Value of Georgia offers auto appraisal reports that include the following:
▪ Multi-point vehicle inspection
▪ Vehicle history report
▪ Repair-quality analysis
▪ Insurance demand letter tailored to your claim
▪ Market analysis of comparable automobiles
▪ Supporting legal documents
▪ Automotive industry guide
▪ Pre-accident value
▪ Repair estimate analysis
▪ Post-repair value
▪ Loss in value amount
This is a complete and comprehensive diminished value solution that you cannot find elsewhere. Please visit Why choose DVGA to learn more about why you should select us for your auto appraisal needs.
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Not All Auto Appraisers are Created Equal!
In Georgia, regardless of fault, you are entitled to your vehicle’s loss-in-resale value. But collecting diminished value depends on many factors—the most important of which is the selection of a competent auto appraiser. Your insurance settlement is proportional to the credibility and accuracy of your appraisal report. Insurance carriers know who the legitimate appraisers are. Don’t spend your money on a bad car appraisal.
For best results and for the highest payout percentage, always hire a licensed auto appraiser who is reputable and BBB accredited.
Our licensed appraisers and inspectors have 30+ years of combined auto claim experience. In the first half of 2013, we helped our clients achieve an additional $4.5 million in additional insurance claim payouts.
We are so confident in the quality and accuracy of our car appraisal services, we offer an industry-first 100% money back guarantee. We are ethical, reliable, and top-rated. You can always retain our appraisal services for a flat appraisal fee. We never charge a percentage of your claim.
Please Note: We are not a law firm and don’t offer legal or financial advice. We are auto appraisers, and our mission is to provide you with a vehicle valuation report that will help you substantiate your claim and give you the documentation you need to be properly compensated. We cannot promise that insurance carriers will act in good faith. Based on feedback from our clients, 90% of automobile claims are amicably settled after submitting our reports to insurance companies.
308 Maxwell Rd
Suite 400
Alpharetta, GA 30009
678-404-0455
