Assessing Damage and Diminished Value
At Accurate Adjustment Company, we pride ourselves on delivering a broad spectrum of specialized appraisal services. Our seasoned team is equipped to assess damage across a variety of vehicles and equipment, including damaged cars, motorcycles, small watercraft, and golf carts, as well as heavy and light trucks, RVs, and heavy machinery. Our expertise also extends to diminished value appraisals, a niche service aimed at evaluating the loss in market value of a vehicle post-accident.
Understanding Diminished Value Appraisals
Diminished Value Explained
Diminished value is the market value loss incurred by a vehicle due to accident-related damages. If you're not at fault in an accident, you may qualify for a claim.
Eligibility for a Diminished Value Claim
This claim is a liability against the at-fault party, necessitated by their insured's negligence. Florida residents have up to four years to file, with the restriction that you cannot claim against your own insurance, and the vehicle must not have been involved in prior accidents.
Claim Timing
A Diminished value report can only be initiated post-repair, requiring the final repair bill to accurately assess the loss in value.
Claim Denial Conditions
If your vehicle has a history of previous accidents listed on its CARFAX report, you might face denial. Additionally, if the at-fault party's insurance policy has a liability coverage minimum of $10,000 and your repair costs reach that amount, coverage may be insufficient.
Our Diminished Value Report Process
We generate a detailed diminished value report, reflecting your vehicle's value on the accident date, and use the repair bill to ascertain the diminished value, aiding in your claim against the at-fault insurance company.
Get Assistance for Your Insurance Claims
Have questions about your vehicle's appraisal or need assistance with an insurance claim? At Accurate Adjustment Company, we're here to help. Visit our contact page below to connect with our expert team now.