Learn how much diminished value you can claim and how we can help you maximize your settlement.
Now is not the time to entrust your diminished value claim to an inexperienced appraiser who may lack the knowledge and experience to help you.
And if you choose a company that uses canned software and questionable methods, your claim will be challenged by the insurance company. And if that happens, you’re going to need a live person to help you through the process.
DVCHECK has over twenty years of vehicle valuation and insurance industry experience handling diminished value claims. We’re experts at calculating diminished value.
We specialize in helping car owners just like you document, demand, negotiate, and recover their diminished value settlement after an auto accident.
- Is not leased (financing/car loans are okay)
- Is less than seven years old
- Has less than 100,000 miles
- Does not have a previous accident history or if it was in a previous accident, the prior damage was minor
- Another driver was at-fault for the accident
In some states such as Georgia, you can file a diminished value claim even if the accident was your fault. We will review your claim, do a preliminary diminished value calculation, and provide you with your estimated diminished value.
$23,000 x 10% = $2,300 base value x .5 moderate damage modifier = $1,150 x .30 mileage modifier = $345 diminished value per the 17c formula.
The 17c formula has its flaws, starting with the 10% cap. It is an arbitrary cap meant to control claim payouts.
The newer your car the better, the more damage the better. Insurance companies tend to place a lot of emphasis on the cost of repairs when calculating diminished value.
Typically, the biggest settlements will be on claims with larger repair costs. You can still get a diminished value settlement with minor damage, but the negotiation may be a little more involved.
As a general rule, you should expect to recover 10% to 25% of the fair market value of your vehicle.
That means if your vehicle has a fair market value of $30,000, your diminished value after an accident could be as high as $7,500.