A diminished value claim should never get denied but does in 90% of the cases when the average Jane or Joe Files for DV but why ?
If the insurance company told you get an estimate and send it to us so we can send you a repair check, what would you do? In all instances you would go to a few body shops and get a repair report estimate from each one and send it to the insurance company, RIGHT? Yes, because you can walk around the car and look for part prices online then ask someone how much it would cost to install but it is not going to be accurate and many things can happen in the process. The same goes with heart surgery, if you have a heart problem you will go to a couple doctors before triple bypass surgery, I would hope but that is not the case in Diminished Value. People go online look up a couple of trade in values and instantly they think they are experts and low and behold they send it to the insurance company and blow away any chance of diminished value. Why, because they think they can save a few bucks and outsmart the insurance company out of thousands.
Then you have a second type of person which goes and gets trade in appraisals from the local car dealer, this person is on the right track but still going to be denied in over 50% of the cases but why if it’s the actual loss is it not? No, Car dealers under pay and will do anything to not pay you even close to what they are suppose to and it is considered the same as your online trade in valuations which is Biased and incorrect.
In the insurance business you will hear everything and I mean everything, I have heard an adjuster say a brand new car is worth more after a car accident because the car now has newer parts. I have heard that a loss is not possible because the car is still being paid for on a loan. I have been told that because it has not been reported to CarFax yet that the car can be sold and there would be no loss. I have also been told that on the CarFax report it says only $100 less and so that is the accurate diminished value.
Please, don’t try to do everything yourself it will get you in trouble. Would you be your own lawyer in court and or do your own dental work? No person that is reasonable would say yes. There are many companies out there, if you don’t use us it’s ok to use someone else. Our goal is to inform the public about diminished value in order for the wrongs that have been committed to be corrected.