A Diminished Value Appraisal informs you of the amount of diminished value your car has sustained due to an accident and subsequent repair. At Auto Appraisal Group, we offer expert diminished value appraisals to help you navigate insurance claims and protect your investment. We can help you maximize your insurance claim and receive the compensation you are entitled to.
What Is Diminished Value:
Diminished value refers to the loss in value that a vehicle experiences after it has been involved in an accident or sustained significant damage. Even after repairs have been made to the vehicle, it is still less valuable than it would have been if it had never been damaged.
Why You Need a Diminished Value Appraisal:
When filing an insurance claim for damages, it’s also important to consider the diminished value of your vehicle. An independent diminished value appraisal provides an unbiased value that helps hold the other party’s insurance company accountable. Without a professional appraisal, you may not receive the compensation you deserve. Our experienced appraisers accurately assess the diminished value, providing you with the necessary documentation to support your claim and ensure fair compensation.
How to Get a Diminished Value Appraisal:
1: Receive a Free Estimate: Start the diminished value appraisal process by receiving a Free Estimate Range. A Diminished Value Range will look at the estimated value of the vehicle and your description of the damages to determine if your vehicle will have enough diminished value to justify ordering an official appraisal.
2: Order a Diminished Value Appraisal: Once it has been determined by the estimate that a diminished value appraisal is worth it for you, you can order the appraisal. The official appraisal will require more detailed information about your vehicle, the specific damages, and the repairs completed to ensure the most accurate claim.
3: Receive the Appraisal Report: After all information has been gathered, researched and analyzed by the appraiser, you will receive an independent report of the vehicle’s diminished value. With a comprehensive appraisal report, you can effectively negotiate with the insurance company and increase your chances of maximizing your claim.
Don’t let diminished value go unnoticed! Contact us today to receive an expert appraisal and ensure you get the compensation you deserve.
AAG’s Diminished Value Appraisal Includes:
- Free Diminished Value Range: We offer a FREE Diminished Value Range form to see if it is worthwhile for you to pursue a diminished value claim.
- Accurate Appraisal Report: Our diminished value appraisal report looks at your specific vehicle, takes into account damages and repairs, and provides an accurate assessment of any diminished value.
- Consultation with Experts: Have questions about your report? Our experts are available to answer questions and help you understand your vehicle’s diminished value.
Advantages of Our Diminished Value Appraisal Service:
- Accurate Assessment: Our experienced appraisers accurately evaluate your vehicle to determine the precise diminished value, ensuring you receive fair compensation.
- Maximize Your Claim: Armed with a comprehensive appraisal report, you can effectively negotiate with the insurance company and increase your chances of maximizing your claim.
- Protect Your Investment: By claiming diminished value, you can be compensated for your vehicle’s reduced resale or trade-in value, ensuring you’re not left with a financial burden.
- Widely Accepted By Insurance: Our diminished value appraisals are widely accepted by insurance companies nationwide.
Diminished Value Frequently Asked Questions
What is Diminished Value?
Diminished value refers to the reduction in a vehicle’s market value after an accident or repair, even when fully restored.
Why Do I Need a Professional Appraisal for My Diminished Value Claim?
A professional appraisal provides an unbiased assessment, offering detailed evidence and documentation to support your claim and increase the likelihood of a successful outcome.
Can I Still Claim Diminished Value if the Accident Was My Fault?
Typically no. Most insurance policies state they will not pay diminished value for first-party claims. Diminished value claims are filed against the at-fault party’s insurance carrier. The key factor in claiming diminished value is the decrease in your vehicle’s market value due to its history of accident damage and subsequent repairs.
Will Filing a Diminished Value Claim Increase My Insurance Premiums?
Filing a diminished value claim typically should not directly impact your insurance premiums. Diminished value claims focus on the decreased market value of your vehicle after repairs, which is separate from your insurance premiums. Insurance companies typically adjust premiums based on factors such as driving history, claims frequency, and other risk-related elements.
“Excellent service from start to finish, easy and pain free total loss appraisal. Highly recommended!!”
“Worth every penny and more! I am so glad I decided to hire AAG to step in and provide me with the services I needed to get what I rightfully deserved from my insurance company.”
“my insurance co. tried to screw me out of $10.000 on my pickup. AAG got them to pay what it was worth with their appraisal.”
“I was dealing with a ton of stress after I lost my home and both vehicles after hurricane Ian. My insurance company kept trying to lowball me on two BMW m3’s that were garage queens. Auto appraisal group got me what I felt the vehicles were worth and I couldn’t be happier with the service and professionalism of this company!”