How much is Diminished Value on a Rolls Royce Cullinan?
Or, to paraphrase: "How long is a piece of string?" As attorneys are know to say, "it depends." Diminished Value is determined by the number of labor hours, structural and non-structural assemblies repaired of replaced and several other factors.
Because the replacement parts on high end luxury vehicles are expensive, the Diminished Value may be significantly higher.
Have you have been in an accident through no fault of your own? You may be entitled to make a Diminished Value claim. We can help!
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Typically insurance companies offer 70 to 85 cents on the dollar for a total loss claim!
Typically insurance companies offer 70 to 85 cents on the dollar for a total loss claim. Be aware of the Appraisal Clause in your policy which allows you to challenge the insurance company's offer by hiring your own independent auto appraiser. Our results show that after our appraisals, insurance companies settle for an average of 19% more than their original offer. Protect your investment! Get it appraised!
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Is diminished value the same as depreciation?
Diminished value and depreciation are two separate and distinct issues. Diminished value is the difference between your vehicle’s market value before an accident and its value after an accident, once repaired. Depreciation is your vehicle’s loss in value over time, which is caused by normal wear and tear. Your car’s depreciation is determined based on its mileage, age, make, model, and general condition.
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15 year old BMW 650 has over $5,000 in Diminished Value
This 15 year old BMW 650 was in an accident caused by another, resulting in over $10k in damage repairs. Following a Diminished Value appraisal, the owner is now making a $5,000 claim against the insurance company of the at-fault driver.
Which auto pre-purchase inspection should you choose?
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Which Land Rover Defender 110 would you buy?
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