Even after a repair shop fixes your vehicle, its accident history can still reduce its A Jump To:
What Is Diminished Value?
What Affects How Much Diminished Value You’re Owed? Not every accident results in the same amount of diminished value. Several factors influence how significant the loss is for your specific vehicle. The age and mileage of your vehicle matter. Newer vehicles with lower mileage typically experience a greater dollar loss in diminished value because they had more The quality of the repairs matters too. Repairs that use non-OEM parts or that fall short of industry standards can contribute to an even greater loss of value. Finally, the make and model of your vehicle can affect how buyers perceive accident history. Some vehicles hold their value more strongly and may take a bigger hit when an accident appears on their record. Diminished value claims go against the Is There a Time Limit for Filing? Yes, and this is important. Each state has its own statute of limitations for filing a diminished value claim, and waiting too long can mean losing your right to recover that loss altogether. In many states, the window is two to three years from the date of the accident, but it varies. Once your repairs are complete, it’s a good idea to move forward with the appraisal process sooner rather than later, while documentation is still fresh and easy to gather. Once you have an independent appraisal report in hand, you can submit your diminished value claim to the at-fault party’s insurance company. Insurance companies will often start by offering less than what your vehicle’s diminished value actually warrants, which is exactly why an independent appraisal matters. It gives you a documented, third-party figure to stand behind rather than simply accepting whatever number the insurer puts forward. If the insurance company disputes your claim or continues to offer less than you deserve, your appraisal report can also support your case if the matter moves to arbitration or court. AAG makes the process simple with three straightforward steps. Start by requesting AAG’s Step 2: Order the Diminished Value Appraisal Once the free estimate confirms that moving forward makes sense, you can order the official appraisal. AAG takes a detailed look at your specific vehicle, the damages it sustained, and the repairs the shop completed, so the final assessment is as accurate as possible. After AAG gathers, researches, and analyzes all the information, they deliver an independent report of your vehicle’s diminished value. With that report in hand, you can effectively negotiate with the insurance company and make sure you receive the full compensation you deserve. AAG’s experts are also available to answer any questions and walk you through your report every step of the way. A diminished value claim is about more than the cost of repairs. It’s about recovering the market value your vehicle lost because of its accident history.
Who Can File a Diminished Value Claim?
What Does the Negotiation Process Look Like?
How to Get a Diminished Value Appraisal with AAG
Step 1: Receive a Free Estimate Range
Step 3: Receive Your Independent Appraisal Report
Auto Appraisal Group’s Don’t Let Diminished Value Go Unnoticed