Why Would I Receive a Diminished Value Claim Payout from My Insurance Company? Alpharetta, GA
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As a car owner, you may have heard of the term “diminished value” or “DV” at some point. It is a term used to describe the loss of value that a vehicle experiences following an accident, even after it is repaired to its pre-accident condition. Although it may seem unfair, this reduction in value can be quite significant, and it’s something that insurance companies routinely do when handling accident claims.

Why would you receive a diminished value claim payout from your insurance company? Let’s dive into the details.

What is Diminished Value?

As mentioned earlier, diminished value is the loss of value that a vehicle experiences after an accident, even after it has been repaired to its pre-accident condition. This is because the car’s history of damages and repairs can negatively impact its resale value, making it less attractive to potential buyers.

There are three types of diminished value:

  1. Immediate Diminished Value – This refers to the loss of value that occurs immediately after an accident. It is the difference between the car’s value before the accident and its value after the accident but before any repairs are made.
  2. Inherent Diminished Value – This refers to the loss of value that remains even after the vehicle has been repaired. It is the difference between the car’s value before the accident and its value after the accident and repairs have been made.
  3. Repair-Related Diminished Value – This refers to the loss of value that occurs due to the quality of repairs made to the vehicle. If the repairs are not done properly, this can have a negative impact on the car’s resale value.

Why Would You Receive a Diminished Value Claim Payout?

If you have been involved in an accident and your car has been repaired, you may receive a diminished value claim payout from your insurance company. This is because the insurance company always wants to save money by compensating you for the loss of value that your vehicle has experienced as a result of the accident.

To make a diminished value claim, you will need to provide evidence of the loss of value that your car has experienced. This can be done by obtaining a professional appraisal of your vehicle after the accident by Wreck Check Atlanta. Our specialists can accurately calculate any repair-related diminished value that may have occurred and help you get a fair payout from the insurance company.

Atlanta Diminished Value Claim Appraisals

Receiving a diminished value claim payout from your insurance company is not uncommon. If you have been involved in an accident and your car has been repaired, it is important to consider the potential loss of value that your vehicle has experienced. Wreck Check Atlanta can help you with a diminished value claim to ensure you are properly compensated for the loss of value that your car has experienced.

Contact us today to learn more.

Posted on behalf of Wreck Check Atlanta

Our happy clients!

Wreck Check Atlanta is the leader in Post Repair Inspections, Diminished Value Assessments and detecting Improper and Unsafe Repairs. Due to our success we have many satisfied clients that would like to tell you about their experience with our company.

  • Amazing! He told me early on how much money he was going to be able to get me and he was spot on. I paid a small fee to get thousands more in my diminished value claim than the insurance company was offering. Further, RJ was very easy to get in contact with. He responded to my emails almost instantly. The whole process went by so quickly once he was involved. I would recommend him to anyone.

    Hunter Owens
  • My insurance company offered me 37 bucks in diminished value. My case was slightly complex due to the insurance companies appraiser being stubborn and difficult. It had to be escalated to an unbiased umpire for a final binding decision. I wasn't expecting for it to go this far however it did. I ended up getting close to 3K back. RJ is extremely professional and he fights for you. The only issue to me is his preferred method of communication which is by email. Which i became accustomed to because he responds more prompt that way. He generated a 30 to 40 page report. He works extremely hard and for that I'm appreciative.

    Ricky Major
  • RJ is Awesome! He got me 10x what the insurance company offered on a 2 year old accident. Also, I traded the car in 7 months ago so I no longer had it. If I could share this experience with every person I see I would. I’ve already told several family and friends, it’s really just unbelievable to me! If you have any question what so ever, I promise his fee will be the best $275 you’ll ever spend!!

    Paras Raichura
  • Very responsive and professional. Helped me through the process step by step. I know that without their help I would not have gotten any money from the insurance company, literally pennies on the dollar without Wreck Check!

    Mayra Saldana
  • RJ Sweeney is very quick, effective, and efficient. He got me more money out of my car’s value after my insurance company low-balled me. Use him!!!

    Jessica Via
  • Helped us through the process. Very responsive. We were able to get more than we originally though. Thanks, RJ!

    Dani Senne
  • This was my first time working with a diminished value appraiser and RJ Sweeney made it an amazing experience. He helped me get 10 times the amount of the original offer from the insurance company

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