Wrecked Car Damaged Vehicle Blog

RSS Grab DamageMAX RSS Feeds

Diminished Vehicle Value – The Perfect Storm for Insurance Companies

Joseph Coupal - Wednesday, March 12, 2014

Diminished Value is probably the dirtiest thing you can say to an insurance adjuster. Just say it and watch them get weird…Insurance adjusters are trained to be neutral and generally stoic by nature. It's pretty hard to "rattle their cage" unless you say the magic words "Diminished Value" or DV.

Diminished Value occurs when an automobile is involved in an accident, vandalism, storm or some other type of event where physical damage occurs.

There are three levels of diminished value:

  1. Stigma DV – the insurance companies involved will report your claim along with the settlement amount to data providers that will feed the information subsequently to CARFAX and AutoCheck. The vehicle will have a score that is impacted by this history and the value of the vehicle will depreciate up to 15% just because the vehicle was previously damaged.
  2. Frame / Structural DV – when there is physical evidence that a vehicle has been repaired extensively and the structure of the vehicle was compromised. The quality of the collision repair work is not in question, it is the fact that significant structural repairs were made to the vehicle. A good benchmark for the potential of structural DV would be collision repairs totaling to greater than $3500.00
  3. Sub-standard Repairs – physical evidence of poor quality repairs would significantly impact the value of the repaired vehicle. This compounds the DV effect as corrective repairs will be required before any estimate in DV can be ascertained.

Vehicle Data reporting sources like CARFAX & AutoCheck have created tremendous awareness, even fear and the american consumer is possessed with knowing vehicle history before they consider purchasing a vehicle. Great for CARFAX & AutoCheck, bad for insurance companies! Why? Because there are new businesses sprouting up every day to ride the Diminished Vehicle Value wave. There are companies like WreckCheck and TrueFrame that inspect previously damaged vehicles for repair quality in an attempt to restore a portion of the vehicles diminshed value. This comes at a price however, and the consumer must pay a few hundred dollars to get a certification that their vehicle was repaired properly. Sound fair to you? WRONG! You are sitting at a stoplight minding your own business and you get blasted from behind by a "texting teeny bopper" in mommy's Expedition. You are not at fault, and mommy's insurance company is quick to tell you they will be handling the repairs, but what about Diminished Value? Your vehicle is going to take a big hit in the value department and you won't be getting compensated for it?

CARFAX just announced that they will begin a classified listing service for automobiles. This will create more awareness as vehicles will only be listed "with" history reports visible for the consumer to peruse.

So if you're the victim of an accident and you believe you are not at fault, ask about being compensated for the Diminshed Value.

For more information on diminished vehicle value or to sell a previously damaged vehicle, please visit damagemax.com.


Recent Posts


Tags

buy any car damaged vehicle for cash high mileage vehicle value for your Damaged vehicle buyer of wrecked cars broken vehicle buying a used car DJ Harrington tow charges car parts for cash vehicle for trade-in wrecked car experts buy salvage title vehicles sell vehicles vehicle wrecked negative carfax reports cash out of your wrecked vehicle buy your car for cash buy damaged cars buy your wrecked car sell to damageMAX we buy any car car for top dollar junk cars flood vehicles sell junk cars DamageMAX DamageMAX Difference collision repairs repair the wrecked car cash for the car broken vehicles repair bills repair orders industry insider buyer of damaged vehicles trade their damaged car average tow & storage bill Sell your car FAST buy your wrecked vehicle sell car parts wrecker services repair an old or worn out vehicle sell damaged cars car buyer selling totaled vehicles recycle Chicago wrecked vehicle, problem vehicles flood damaged cars selling any vehicle sell your Honda for Top Dollar D.J. administrative fees car parts and components repair a vehicle cash only damaged vehicle to sell top dollar for your damaged vehicle damaged vehicle replacement liability only accident with no insurance immediate cash offer damaged vehicles junk buy the damaged vehicle wrecked auto sell the car pre-cash value selling your damaged vehicle repairing the vehicle wrecked vehicle buy your wreck Sell your wrecked vehicle diminished value salvage title vehicle sell damaged vehicles towing company CarbuyerUSA trade car is not totalled Collision damaged vehicles repair your car storage or tow yard CarFax Reports damaged by collision car buyers We Total Any Car Dr Harrington diminished value trends owner retained sell your wrecked car online Sell your wreck wrecked your vehicle E15 engine damaged vehicle buys any wrecked car selling their damaged car sell online fix your car car accident with no insurance buy your vehicle selling a damaged car car buying business retained by the owner un-repaired collision repair your vehicle selling a vehicle Diminished Vehicle Value buy any wrecked vehicle sell problem vehicle vehicle value We buy damaged vehicles Sell DamageMAX your wreck Dr. Harrington wrecked vehicles free price quote salvage value buy a broken vehicle selling a wrecked car vehicle for cash fast sell the wrecked vehicle sell it online buys wrecked cars selling a damaged vehicle repaired vehicle's value title processing procedures sell the vehicle problem truck settlement check selling your wrecked car car's value sell a car Call DamageMAX now! wrecked your car replacement vehicle sell your Honda sell your high mileage vehicle insurance check Body shops Donate Your Wrecked Vehicle Maximum Value for damaged vehicle old car CAR-Diologist buy damaged vehicles fix the vehicle buy a car repair your wrecked vehicle value damaged vehicle cash offer on any damaged vehicle Top Dollar repairing the wrecked car value of your vehicle repairing the car cars for cash car parts free quote wreck old junker cash out repair the vehicle damaged cars call DamageMAX used vehicle legal for less car is wrecked damaged vehicle purchases trade in repairing your wrecked car repair providers sell a damaged car inoperable cars buy wrecked cars sell your wrecked car damaged vehicle world post-crash value wreck your vehicle wrecked truck money for damaged vehicles Clean-Break TIP auto insurance coverage High mileage vehicles car for sale trade-in collision repair leaking fluids sold retail value sell a wrecked vehicle sell your vehicle as-is wreck your car Problem vehicles AAA reduction of resale value buys your wreck cash for your wrecked vehicle value of the vehicle Selling your wrecked vehicle buy vehicles 12% in diminished value sell your vehicle wrecked car how much it costs how to sell a damaged car auto body collision repair DamageMAX.com buy your car Used vehicle values sell your car Inoperable vehicles buys any car selling flood damaged cars sell your old car Trade-in Program CarFax sell junk car CarBUYERUSA.com repair check check for your wreck trade-in value selling their wrecked cars vehicle values owner retained vehicle car into cash Damaged Car cash for your vehicle Honda cash offer repairs Branded title vehicles selling flood damaged vehicles insurance company consumer awareness sell your damaged vehicle sell your damaged

Archive



    GET A MORE PRECISE OFFER

    Does your car have body damage ?

    Number of airbags blown?

    Do you have a collision estimate?

    What is your insurance deductible?

    Is your car drivable?

    Do you have the car’s title?

    Does the vehicle have a salvage or rebuilt title?

    Does the vehicle motor run?

    YOUR CASH OFFER!

    CASH OFFER FOR YOUR
    DAMAGED VEHICLE

    $
    Fair market value prior to accident $


    Sell my damaged vehicle
    Check for my vehicle AS-IS

    This represents a cash offer for the vehicle as described by the seller.

    $
    Net Repair Check

    Proceeds for repairs that can be used for purchasing a replacement vehicle.

    $
    Deductible Payment

    Amount you save if you sell the car now

    $
    Cash Toward a New Vehicle
    $
    Out of Pocket Expenses
    ($0)