What is Diminished Value?

Diminished value is the reduction in your vehicle's market value occurring after your vehicle is damaged and then repaired, otherwise called accelerated depreciation. A reasonable person will not pay the same price for your wrecked and repaired vehicle as they will for a vehicle that has not been wrecked.

A diminished value appraisal evaluates the difference in value of your motor vehicle after a collision repair. Auto Appraisal Network compiles these reports. This report is used when filing or disputing a diminished value claim with your insurance company.

Some reports include an assessment of the damage done to a motor vehicle, the quality of repairs, and the market value of the vehicle before and after the accident.  As there are no set rules for measuring diminished value, and since every vehicle loses value differently a one size fits all formula would be fundamentally inaccurate, and it is therefore important to have this done by a certified auto appraisal company.

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To learn how to make a claim contact us at: call/text 786-853-0711 or johnl@autoappraisalnetwork.com

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What is Diminished Value?