Wrecked car appraisal in Florida
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Two weeks after purchasing this Polaris Slingshot, 3-wheel motorcycle for $25,000, it was wrecked and declared a Total Loss. The insurance company wanted to settle for $14,735. The Appraisal Clause was invoked (we all have one in our policies), and after going through the appraisal and Umpire process, the insurance company settled for $24, 682. That's a $9,947 increase and 2,484% return on investment. Is your insurance company delaying, denying or underpaying? Call/text 786-853-0711
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!
Remember the old line - "If something sounds too good to be true, it usually is!" Twice this month we've done pre-purchase inspections on 'deals' for out of state buyers. Upon arrival at the '07 Mercedes, we took one look, called the customer and said "you really don't want an appraisal! Walk away!" The second, a '14 Jaguar XKR was actually pretty good, but had been in an accident and thus suffered Diminished Value somewhere in the $3,000-7,000 range. Nice car, yes! Deal, no! Protect your investment! Get it appraised!
Through no fault of the owner, this 2015 Jaguar F-Type was involved in a serious collision requiring over $11,000 in repairs. As a result, it has now suffered 'Diminished Value.' An appraisal determined that the amount of Diminished Value is $4,750, which the owner may now claim against the insurance of the at-fault driver. Whether your accident vehicle has been 'totaled' or repaired, an auto appraisal will help you settle for more $$$$
How to Prove Your Diminished Value Claim: Florida is a diminished value state, which means you may be entitled to the diminished value of your vehicle after an auto accident. Under Florida law, a vehicle owner can pursue a claim for diminution from the negligent party who caused the accident, typically by filing directly with their insurance company. Diminished Value (“DV”) is the loss in market value that occurs when a vehicle is wrecked and repaired. To file a diminished value car insurance claim, you must provide clear proof of the diminution and its dollar value. The best way to do this is with a Diminished Value Auto Appraisal. We’ll walk you through every step. Call/text 786-853-0711.
This is Diane's 2015 Cadillac SRX. Diane's Cadillac was in an accident and was Total Loss. The insurance company offered her $17,471. Diane hired Auto Appraisal Network to do a Prior-to-loss Fair market Value appraisal. As a result, the insurance company settled with Diane for $20,650. Read Diane's comments on our Facebook Reviews page. If your vehicle was declared a Total Loss and the insurance company is delaying, denying or underpaying, contact us today.
During this time of COVID-19, not only are we continuing to do Pre-Purchase Inspections, Total Loss, Diminished Value and Insurance Coverage appraisals in South Florida, but we are also donating blood for those in need. My parents lived through the London Blitz of 1940 and 1941. We will get through this! Stay safe and continue to practice social distancing.
Has your vehicle been in a wreck in South Florida? If the cost to repair is less than 80% of the vehicle's value, it is repaired and your vehicle had suffered Diminished Value. No matter how professional the repair, it's worth less than an identical vehicle with no accident history. If the repair cost is >80% of the value, it is declared a Total Loss. Either way, with an appraisal, we help you make a Diminished Value or Prior-to-Total Loss Fair Market Value claim with the insurance company to receive more $$$$.
Looking for a 'car appraisal near me?' If car appraisal near you means South Florida, you've found us! Whether it's a Pre-purchase inspection, Replacement Value for insurance, Fair Market Value for pre-purchase, pre-sale, bankruptcy, divorce and probate purposes, Total Loss or Diminished Value following an accident, certified appraisers John Layzell and Tom Willhite are here to help.
You take your Chevy Tahoe for a quick oil change and then you get the phone call! Is it totaled? Let's say your Tahoe is worth $28,000. In Florida, if the insurance company believes the cost to repair is close to 80%, or about $22,000, it's declared a Total Loss. But wait, there's more.....