Recommendation on diminished value expert?
11-22-2021, 10:35 AM
#16
Rennlist Member
11-23-2021, 10:23 AM
#18
Advanced
Get your car totaled with a diminished value appraisal
A car owner whose vehicle was badly damaged, and who prefers that their car be declared total losses, can present their Auto Diminished Value Appraisal prior to authorizing repairs. There is no case law or insurance regulation that prohibits doing this and, time and time again, it has convinced insurers to go along as it also benefits them.
Hypothetically, you already have a high-dollar initial estimate, there will likely be a supplement, they will have to pay for a rental car and/or Loss of Use and may also be liable for a $10,000+ diminished value payment. A Tesla owner suggested doing this a few years ago, it worked, so now I advise clients of this option as circumstances dictate. Give it a try. You have nothing to lose because even if the insurer stubbornly refuses to total the car, you can still pursue the diminished value claim. FYI, replacing a quarter panel renders this a structurally-repaired car and, as such, it will lose almost half of its pre-accident trade-in value.
Hypothetically, you already have a high-dollar initial estimate, there will likely be a supplement, they will have to pay for a rental car and/or Loss of Use and may also be liable for a $10,000+ diminished value payment. A Tesla owner suggested doing this a few years ago, it worked, so now I advise clients of this option as circumstances dictate. Give it a try. You have nothing to lose because even if the insurer stubbornly refuses to total the car, you can still pursue the diminished value claim. FYI, replacing a quarter panel renders this a structurally-repaired car and, as such, it will lose almost half of its pre-accident trade-in value.
11-23-2021, 10:44 AM
#19
Rennlist Member
11-23-2021, 10:47 AM
#20
11-23-2021, 10:48 AM
#21
A car owner whose vehicle was badly damaged, and who prefers that their car be declared total losses, can present their Auto Diminished Value Appraisal prior to authorizing repairs. There is no case law or insurance regulation that prohibits doing this and, time and time again, it has convinced insurers to go along as it also benefits them.
Hypothetically, you already have a high-dollar initial estimate, there will likely be a supplement, they will have to pay for a rental car and/or Loss of Use and may also be liable for a $10,000+ diminished value payment. A Tesla owner suggested doing this a few years ago, it worked, so now I advise clients of this option as circumstances dictate. Give it a try. You have nothing to lose because even if the insurer stubbornly refuses to total the car, you can still pursue the diminished value claim. FYI, replacing a quarter panel renders this a structurally-repaired car and, as such, it will lose almost half of its pre-accident trade-in value.
Hypothetically, you already have a high-dollar initial estimate, there will likely be a supplement, they will have to pay for a rental car and/or Loss of Use and may also be liable for a $10,000+ diminished value payment. A Tesla owner suggested doing this a few years ago, it worked, so now I advise clients of this option as circumstances dictate. Give it a try. You have nothing to lose because even if the insurer stubbornly refuses to total the car, you can still pursue the diminished value claim. FYI, replacing a quarter panel renders this a structurally-repaired car and, as such, it will lose almost half of its pre-accident trade-in value.
11-23-2021, 11:01 AM
#22
Three Wheelin'
That really blows...and another reminder that stop signs and stop lights are just there to mitigate the risks of crashes at intersections. My first rule is always to ignore them and worry about traversing the intersection without being involved in a crash on my own accord and then secondly to adhere to the local laws.
11-23-2021, 11:22 AM
#23
That really blows...and another reminder that stop signs and stop lights are just there to mitigate the risks of crashes at intersections. My first rule is always to ignore them and worry about traversing the intersection without being involved in a crash on my own accord and then secondly to adhere to the local laws.
01-30-2023, 09:42 PM
#24
Rennlist Member
So what happened?
02-06-2023, 06:28 PM
#25
Rennlist Member
What state are you in ?
Many states have very specific laws to protect consumer.
My Experience in Florida was very good although I did have a knock down drag out fight with the insurance company.
BTW
Go after the person's insurance who hit you if the police report show liability.
Get appraisal
get lawyer who specializes in DV
good luck Elliot
Many states have very specific laws to protect consumer.
My Experience in Florida was very good although I did have a knock down drag out fight with the insurance company.
BTW
Go after the person's insurance who hit you if the police report show liability.
Get appraisal
get lawyer who specializes in DV
good luck Elliot
02-07-2023, 12:11 AM
#26
Racer
I just realized how old this thread it, and curious to see how it turned out too.
Last edited by josephvman; 02-07-2023 at 12:16 AM.
04-09-2023, 08:46 AM
#27
Brett
04-09-2023, 09:01 AM
#28
Rennlist Member
Generally once you explain to the adjuster you are going after DV, they tend to shift toward total loss.
It’s of course more about minimizing their loss than ratios or percents.
Also salvage auctions have gotten really good at “fluffing” up wrecked cars to look better and bring better numbers.
It’s of course more about minimizing their loss than ratios or percents.
Also salvage auctions have gotten really good at “fluffing” up wrecked cars to look better and bring better numbers.
