A diminished value appraisal is an evaluation that is carried out on a car or vehicle that has just been involved in an accident. There is no argument that a car that has been in an accident would definitely loose some of its value on the market. The extent to which the car’s value is reduced however cannot be determined in exact terms. Hence, to get the best current estimate of your car’s value – should it have been in an accident – you must employ the services of a qualified car appraisal expert.
To carry out a diminished value appraisal, the car appraisal expert employs various assessment tools that he uses to estimate the loss of value to the car. This is usually done after repairs have been made and the work has been returned to a working condition.
When is a Diminished Value Appraisal Required?
A diminished value appraisal on a car comes in handy when you are trying to get more than just the repair cost from a party that has caused an accident that your car has been involved in. insurance companies always seek ways to pay less and thus when they will likely avoid compensating you for the loss in value of your car should it have been in an accident. With a certified diminish value appraisal expert at your service however, you can get the insurance company to cover such loss.
Having a car appraisal at your side when you deal with an insurance agency is the wisest course of action when your car has just been involved in an accident. Insurance companies aim to make sure that they spend the smallest amount of money in compensation. With your expert at your side however, you are likely to get a fair if not a full compensation for all the losses you might have incurred.
Granted, it can be stressful and time consuming to have to keep up with insurance agencies in matters such as these. Indeed, if you have not had a similar experience in the past, you will very likely give up on trying getting your due when insurance agents start to throw around their terms. This though is exactly what a professional car appraiser is there to help you avoid.
So make sure that before you throw in the towel or accept an insurance quote just as it is, you have a tiger in the ring as well. Level up the playing field and employ a car appraiser that is also very experienced in the field of carrying out car appraisals and demanding compensation when there is a need to.
Here is an advice for you. If there has to be an appraisal carried out, don’t rely on the appraiser that your insurance company sends to do the job. Employ your own professional car appraiser who will definitely give you a complete and unbiased report on the condition of your car.
It isn’t right that you are not fully compensated for your loss. It might not reverse the tragedy that an accident might have caused but a full compensation surely does help in its own ways.