Was your vehicle involved in an accident that was not your fault? Diminished value is market value lost because of a non-at fault accident and is determined after the qualified repairs have been completed. Due to the accident, your vehicle will have accident history report. We all know that vehicles with accident history are not worth the same as vehicles that have never been in an accident.
Many insurance companies try to offer you an amount to settle the claim, but the only way you will know if it is a reasonable amount is if you have one of our certified auto appraisers complete an appraisal. Our certified diminished value appraisals are very detailed and will show your prior accident value and post-accident value.
Time is limited on filing a Diminished Value claim; so don't waste any more time and contact us today!
Pinnacle Auto Appraisers Diminished Value Experts:☆☆☆ Pinnacle Auto Appraisers
Pinnacle Auto Appraisers provides nationwide licensed and certified evaluation services. Our specialists are here remove the hassle from the appraisal process and to help you get the most for your diminished value claim.
We provided certified, professional auto appraisals nationwide. Please take a moment to complete the requested information on our contact form or you can call us toll free at 1-877-988-9911. We can provide you with a free preliminary review to make sure it is worth proceeding.
We offer decades of firsthand experience in the review, appraisal and evaluation of all types of vehicles for a variety of purposes such as, but not limited to; Automobile Appraisals, Pre-Purchase Inspections, Pre-Repair Damage Inspection, Photos, Post Repair Inspections, Diminished Value, Lease Turn-In Appraisals, Total Loss Appraisals, Auto Appraisals for Insurance Coverage and insurance Claims, Private and Corporate IRS matters, Automobile Appraisals for Bankruptcy, Automobile Appraisals for Divorce, Automobile Appraisals for Estates and much more.
Our licensed and certified auto appraisers have extensive knowledge of insurance claim practices. Our years of collective experience provide our clients with unbiased and accurate information that they require.
Before selecting an appraiser, ensure that you check the following:
* Are they certified diminished value appraisers?
* Do they offer a physical inspection of the vehicle?
* Are their reports accepted in courts?
* Are they licensed and accredited?
* Do they review your information preliminarily to make sure your claim is worth filing?
Bodily Injury Liability
Is policy for injuries that you cause to others that you become legally liable to cover. Your coverage will cover these harms to other people up to the limit of the policy.
Property Damage Liability
Coverage for damage to the property of others, caused by you that you are legally liable to pay for. Your coverage will pay for the cost to repair or replace this property up to the limits of coverage.
Uninsured Motorist / Underinsured Motorist
Is coverage you purchase to protect yourself from those who for any reason, do not have liability coverage (or sufficient coverage) at the time they would become legally liable. Coverage can be purchased for injury and in some states property damage too.
Is coverage for injuries to individuals that are hurt in your automobile.
Is coverage for damage to your automobile caused by such things as theft, fire, hail, hitting a deer, etc. Your policy will cover the cost to repair or the (ACV) actual cash value, if the vehicle is determined to be a total loss, less the comprehensive deductible.
Is coverage for damage to your automobile caused by a collision or upset. The policy will pay for the cost to repair or the (ACV) actual cash value if the vehicle is determined to be a total loss; less the collision deductible.
Is coverage to have your vehicle towed in the event of a breakdown. The policy will often reimburse you for these fees up to the limit of coverage specified in your policy.
Is coverage that will pay a daily fee chosen by you at the time you buy the policy, usually from $15.00 to $50.00 per day. There is also a limit on the number of days or a maximum dollar amount that will be paid.
Diminished Value (DV) is the reduction in market value that occurs when a car is wrecked and repaired. A reasonable consumer would not be willing to pay the same amount for a vehicle that has been involved in an accident versus one that has never been wrecked.
You must have your vehicle inspected after the repairs are completed to address both "Inherent" and "Repair Related" Diminished Value. An inspection may also alert you to any repair flaws.
A Diminished Value Appraisal is the conclusion of vehicle’s value reduction due to the accident in which you were not at-fault.
Our Diminished Value Appraisal Reports
All of our certified diminished value reports include the following 10 elements:
A detailed inspection of your vehicle to record options, condition and quality of repairs.
A detailed review of your repair documentation.
A description of what happens to the value of a vehicle that has been wrecked and repaired.
A description of the type & extent of damage to your car, including identification of structural and frame damage.
Photos of your vehicle including photos of the repaired areas.
A conclusion of the pre-damage value of your automobile.
A conclusion of the post-repair value of your automobile.
A conclusion of the total amount of diminished value your vehicle suffered.
A listing of the background, expertise, licensing and certifications of the appraiser who completed the diminished value appraisal.
A professionally written report which complies with USPAP (Uniform Standards of Professional Appraisal Practice).
Diminished Value is not something insurance companies generally acknowledge your right to recover.
Vehicles that have been in an accident can no longer by "Certified” by the vehicle manufacturer.
1st Party Claimant vs 3rd Party Claimant
A 1st party claimant is somebody who's currently making a claim against their own insurance. If you were not at-fault in the accident, typically you can be reimbursed by your insurance carrier for your deductible. As a 1st party claimant against your insurance plan you cannot submit a claim for diminished value in most states. Your claim for diminished value is submitted against the at-fault party’s insurance company.
A 3rd party claimant is someone who is making a claim against another person’s insurance company.
At-Fault Party Has Minimal Coverage
If the party doesn't have sufficient insurance coverage to pay for your car, truck or SUV, the claim should be placed by you via your collision insurance policy.
You've Got Questions...We've Got Answers!
Our licensed and certified appraisers provide guidance throughout the entire claims process.
After an auto collision, it's necessary to understand what you're entitled to. Often you will not be told everything by insurance company adjusters.
Choice of Body Shop
You have the right to have your vehicle repaired at a repair facility of your choosing.
EVALUATING INHERENT DIMINISHED VALUE CLAIMS
Here, you're arguing that even though the vehicle has been repaired back to industry standards, there is still lost value due to accident history.
Fair Market Appraisals
A fair market value appraisal is an opinion of the worth based on the market trends of your vehicle.
Insurance companies use a number of methods to reach the value of a vehicle. The sources of those valuations vary from the purchase price vehicles as well as guide sources such as Kelly Blue Book, NADA, and Edmund’s.
All vehicles that are damaged and repaired suffer some amount of diminished value. However, not all scenarios qualify to make a claim against an insurer. Some of the deciding factors include: whether or not you were at fault, the year, make and model of your vehicle, the mileage your vehicle has on it, the cost of repairs, the nature of the damage as well as prior accident history.
After I Qualify, What's Next?
The next step is determining how much you value your vehicle has lost.