Diminished Value from the Dealer’s Perspective: The Untold Story When it comes to diminished value claims, the dealer’s perspective is often overlooked or misunderstood. Clients frequently inform us that specific dealerships are reluctant to provide diminished value figures. Here’s why, and how we’ve been able to overcome that barrier. Building Trust with Dealerships Over the …
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Revolutionized by AI: A New Era in Diminished Value Appraisals We are thrilled to announce the integration of artificial intelligence (AI) technology into our operations at Diminished Value Method, LLC. This technological pivot has not only modernized our entire business but also redefined our commitment to efficiency. Streamlined Appraisal Reports Our revamped appraisal reports are …
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Unmasking the Impact of Diminished Value on Total Losses: A Closer Look at the 75% Threshold In the insurance industry, a vehicle is often declared a total loss if repair costs exceed 75% of its actual cash value (ACV), known as the 75% rule. This article examines how growing trends in diminished value claims, especially …
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The Challenge of Misleading Carfax Reports As a seasoned diminished value appraiser, I often grapple with the inaccuracies found in Carfax reports, a common issue in the automotive industry. In this blog, I’ll shed light on the challenges these flawed reports create and provide essential insights for potential car buyers. Addressing Carfax Report Discrepancies One …
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Debunking the Flawed Denial of Diminished Value Claims Based on Prior Accidents In recent times, a concerning trend has emerged in the insurance industry, whereby insurance adjusters are wrongfully denying diminished value claims based on the existence of prior accidents. This practice is flawed and misleading, as it fails to consider the impact of subsequent …
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The 17C Formula and How Insurance Companies Evaluate Diminished Value I worked as an insurance adjuster for many years at several companies. Every time diminished value was brought up, we used a formula that is widely used in the industry, but few adjusters know any of the actual details about it. The 17c formula was …
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Can You Make A Claim For Diminished Value on A Leased Vehicle? The law is pretty clear in most states that the owner of a vehicle can bring a claim for diminished value against an at-fault party, but this becomes a complicated issue for those who are leasing their vehicle. The issue of diminished value …
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History of Diminished Value Law in Louisiana It has been recognized in Louisiana for more than sixty years that an injured party is entitled to diminished value. See Day v. Roberts, La.App., 55 So.2d 316 (2d Cir. 1951) “It was recognized in Dupuy v. Graeme Spring & Brake Service, Inc., 19 So.2d 657, Appeal from …
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We’ve been doing a lot of testifying lately. The main difference between other appraisers and Diminished Value Method, LLC is our dedication to principals and integrity. Most of our competitors are providing appraisals nationwide. Although we have wanted to do this, we’ve refrained because we cannot provide the same accuracy as we do now by …
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Sample Demand Letter for Diminished Value Please feel free to use and edit the following sample diminished value demand letter however you would like. There are downloadable word document and PDF form links below: Download a Word document version Download a PDF form version [Today’s date] [Adjuster Name] [Insurance Company & Address] Re: …
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Typical Insurance Adjuster Excuses Against Diminished Value Claims There are a lot of adjusters without much experience and all they know to do is what their insurance company has trained or told them to do. Most have been taught to deny diminished value claims no matter how convincing the evidence. Here are the most common …
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Accuracy Takes Time Since our company’s inception we’ve been researching diminished value evaluation techniques and trying to improve on our methods. We regret that after ten years of research we still have not managed to come up with a way to do appraisals overnight. Our research indicates that the most accurate way to determine diminished …
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Why Attorneys Are Reluctant To Pursue Diminished Value We’ve been doing research into why so few attorneys pursue diminished value. The largest response we get is that they just don’t see much money in it. We completely understand this, but unfortunately it plays into the stereotype that attorneys are only interested in the money, and …
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How Do You File A Diminished Value Claim? It’s best as early as possible in the claim to discuss the issue with your adjuster to get an idea of their attitude on the matter. Let them know at the onset that you intend to pursue a diminished value claim. If their attitude is fine and …
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If you’re the victim of an auto accident in the Baton Rouge area and need to file an insurance claim, then we should be able to help you to recover more money. Most people are aware that the market value of a vehicle decreases after an accident, but few people are aware that you …
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