DIMINISHED VALUE

Diminished Value (DV) is the loss in market value that occurs when a vehicle is wrecked and repaired. Although the repairs may have been performed to the best of human ability, no one will pay full value for that vehicle ever again. DV is meant to make the owner of the vehicle who was NOT at fault... “WHOLE AGAIN” after suffering an economic loss due to an Auto Accident they were found to be the NO-Fault Party. The DV Claim is generally made against the AT-FAULT Insurance company, however, there are states that allow a DV Claim to be filed against your own Insurance company if the AT-FAULT party did not carry an Uninsured Motorist or Underinsured Motorist Coverage. 

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FACT:

 - After being properly repaired, you won’t be able to sell your vehicle for as much as another that hasn’t been in an accident. 

- All states require you to disclose any prior accidents at the time of sale if the question is asked by a potential buyer. 

- Your vehicle history is tracked by companies such as CARFAX and AUTOCHECK. 

- After an accident, your vehicle no longer can be “Certified Pre-Owned” and many dealerships may refuse to accept your vehicle as a trade-in. 

- It is your right to file a “Diminished Value” Claim. 

- Was the accident the other driver's fault?    

- Did the resulting damage include frame/unibody damage? 

- Is your vehicle less than 10-years old?  

- Do you own your vehicle (not leased)?  

If you answered, “YES” to all 4 questions, you most likely qualify to file a Diminished Value Claim. 

Give us a call to better help you decide if a DV claim is right for your situation.

Example: 

- $15,000 Vehicle = $2,250 Diminished Value Claim 

- $35,000 Vehicle = $8,750 Diminished Value Claim 

- $55,000 Vehicle = $16,500 Diminished Value Claim 

These are examples only; actual results will vary. 

- Claim # from preceding accident 

- Date of Loss 

- VIN# 

- Final Repair Invoice from the Repair shop