Diminished Value Appraisals reflect the loss of value after a vehicle has been in a major accident or after major repairs are made.
In most states Diminished Value or “DV” must be requested and sued for from the insurance company by the claimant of the non-fault insured, and a diminished value appraisal is required by the insurance company and courts. In some states, DV is automatically included in their claim but still must be requested and is often figured by the 17c Diminished Value Formula. This often short-changes the claimant. In these situations, the claimant needs a written diminished value appraisal to prove the DV of the vehicle.
I use current market data from trusted sources, as well as comparables from the open market for sold and listed values. My average diminished value appraisal takes 12 hours to inspect, research and write. I include photo documentation with all my appraisals, an easy-to-understand report, as well as a letter of appraisal to be used as proof of value for your needs.
