DIMINISHED VALUE

Diminished Value is the decline in market value of a property due to a history of damage. Your vehicle may potentially qualify for diminished value. Our diminished value claim review will give you all the tools you need to make informed decisions. Become well versed with your rights as a knowledgeable consumer when it comes to your claim for damages. Let ACIS be the one to provide you with timely and accurate diminished value assessments.

 

Our diminished value reports include the following:

• A review of the damages and how it will affect your vehicle's value.

• A detailed report of your vehicle documenting options, condition, and the quality of repairs.

• An in-depth review and analysis of the finalized repair to your vehicle.

• An explanation of what happens to a damaged & repaired vehicle in the marketplace.

• A narrative of the type & extent of damage to your vehicle, including identification of structural, frame, suspension and safety related components.

• An assessment of the pre-damage and post-repair value of your vehicle.

• A professional report that adheres to USPAP (Uniform Standards of Professional Appraisal Practice) and NAIU standards.

• Demand letter

• Supporting documents

• Vehicle History Report

• Phone and Email Support

• Subsequent/Follow-up Letters

 

Who’s Entitled To Diminished Value?

 

Entitlement would be contingent upon qualifying factors and a particular set of circumstances. A diminution or loss of value assessment may be necessary for corporate, personal, or tax related issues. If your damages are the result of another’s negligence, you may be able to collect the remaining loss from the at-fault party. Most states recognize the loss in value as supported by the following examples:   

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Let's say you were looking to purchase a late model vehicle. You approach a dealer with two same identical cars. These vehicles are the same year, make, and model. They have the same mileage and options, and both look to be in the same condition. The sticker price for both vehicles is $25,000. You ask the dealer if either car was involved in a prior accident, and he states to you that one of the vehicles did, in fact, sustain $8,500.00 in damages, however, due to the excellent repairs, you cannot see that there were any prior damages. Now, two questions that remain.

Would you still give equal consideration to both vehicles?

If you answered no, how much would you expect the price to be reduced to consider the wrecked car?

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The conclusion is:
If you were not found negligent in the accident, the at-fault party owes you money. Claims for DV are eligible in all 50 states.

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Please be advised, the insurance carriers know which appraisers are legitimate, so we would encourage you to seek carefully out and hire an appraiser based on their credentials and reputation. Our certified appraisers are  I-CAR trained and have strong backgrounds as insurance adjusters, independent appraisers, body shop managers and licensed car dealers. Unlike other appraisers, we are knowledgeable and willing to assist you with negotiating your insurance claim.

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Due to laws varying from state to state, it is suggested that you contact your state’s Department of Insurance: 

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