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

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

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)