Imagine you own a 2022 Toyota Prius, valued at $23,500. Then, an accident happens. Post-repair, your car’s worth drops to $18,800. That’s a direct loss of $4,700 in value. This situation isn’t rare but often overlooked. Let’s delve into the concept of diminished value, focusing on the Toyota Prius, to
Why a Dealer Appraisal Wont Help in a Diminished Value Insurance Claim (PDF) If you’ve been involved in a car accident and your car has been repaired, you may be wondering how to recover your vehicle’s lost value. The legal term for this is “Diminished Value” or DV. While different
Would you rather collect 80% of an accurate appraisal or 20% of an inflated one?
Many clients believe that if another appraiser gives them a higher initial estimate, the settlement amount will be equally high. WRONG!
Insurance companies know who the legitimate appraisers are, so don't get caught up in the estimate game. Hire an appraiser based on their credentials and reputation.
Seven things to look for when choosing an appraisal company
Wondering how much your vehicle lost in Value? Click the button to know more.
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