Vehicle Diminished Value

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If your vehicle has been involved in an accident, you are entitled to an additional settlement from the insurance company. 

• Even if your vehicle was repaired properly after an accident, it will be worth less than a similar vehicle that is undamaged.  If the vehicle is traded-in or offered for sale, potential dealers and buyers would have a much higher level of interest in an undamaged example than one with a verifiable history of accident repairs. 
  
• Because such Internet services as Carfax and AutoCheck are frequently used by dealers and astute private buyers, the accident and repair history of the vehicle will always follow it and be easily retrievable.  Given this history, the nature and extent of the damage, and the observable indications of the repairs, the vehicle will suffer Diminished Value in the marketplace.
• Inherent Diminished Value is the difference between what your vehicle was worth before an accident and after the accident and repairs.
• Repair-Related Diminished Value includes any additional amounts by which the resale value may be reduced for repairs done poorly or not using factory parts or repair processes.
• Let me help you establish the total diminished value, so you can work with the insurance company to get a fair claim. 
• Tags: Vehicle Diminished Value in Baltimore, Auto Diminished Value in Baltimore

Once the car has been repaired –

• I need a copy of the final repair estimate or bill, showing the work done on the vehicle.
• If you have photos of your vehicle showing the accident damage (even mobile phone photos), they are helpful, but not required.  It’s nice to put them in the DV report. 
• I typically inspect the vehicle to look for, and document, signs of repairs.  Visible repairs affect the DV amount.  The inspection takes about 45 minutes to an hour.  We can find a convenient location to meet.  I’m located north of Baltimore and Towson, and east of Hunt Valley.  
• I sometimes can do DV appraisals without seeing the vehicle, if necessary.
• I return to my office and complete a DV report.  It typically is seven to ten pages.  It documents the vehicle make, model, and identifying information, its features and options, the nature of the accident, all of the parts and components replaced or repaired, visible signs of the repaired damage, a discussion of DV and how it affects the vehicle’s post-accident value, then the value of the vehicle before and after the accident, and the DV amount.  I also include my credentials.
• I have done hundreds of DV appraisals, for both individuals and insurance companies.  I’m known and respected for doing a fair appraisal.
• You then send the DV report to the insurance company agent which handled the repair work.  I can provide a draft cover letter, if you would like.
• You also send them a copy of my paid invoice.  Sometimes the insurance company will reimburse you for my fee, since it’s a cost you incurred due to their client’s accident.
• I can send the report to you as a PDF by e-mail, or I can print and mail a copy.
• I can typically have the report completed for you within a day or so.

If your car was totaled, you may need to know its true value prior to the accident, to make sure you're getting a fair settlement from the insurance company.  This is a 'Pre-Accident Appraisal'. 

My fee for a Diminished Value or Pre-Accident Appraisal is $275.  A mileage fee for travel may also be incurred.