Car Accident Appraisals: Diminished Value and Pre-Accident Appraisal
There are two types of car accident appraisals we perform.
Diminished Value and Pre Accident Appraisal. Diminished value is the loss of value a vehicle suffers as the result of being involved in a car crash. It is a real loss and you may file a claim to recover diminished value if you are NOT the at fault party.
Pre-Accident appraisals determine the value of a vehicle the split second before it was involved in a total loss event. If you are not happy with the amount the insurance company is offering you for your totaled car, you have the right of appraisal.
Diminished value claims are a separate claim and are filed AFTER the car has been repaired and returned to you. In the state of Florida, only third party diminished value claims are allowed, meaning only the non at fault party can claim diminished value. If you are the at fault driver, you are not eligible. It also should be noted diminished value claims are for vehicles with significant damage, at least a few thousand dollars or more. They are not for parking lot fender scrapes or bumper dings. Time is limited; you only have 3 years from the date of the loss to file for diminished value.
When we perform a diminished value appraisal, we are looking for evidence of repair work, unfixed damage, replacement parts and anything else a potential vehicle buyer might see to let him know the car has been involved in a crash. After our inspection and analysis of your repair records we will write you a diminished value report specifying our opinion of the diminished value amount (if any) which you (or your attorney) will submit to the AT FAULT party's insurance company.
The second type of car accident appraisal we perform is a Pre-Accident Appraisal. Pre-Accident appraisals are done to determine the value of a vehicle the split second before it was involved in a total loss event. If you are not happy with the amount the insurance company is offering you for your totaled car, you have the right of appraisal.
Right of Appraisal. In Florida you have the right to hire your own appraiser if you are not happy with the offered settlement amount. The insurance company will hire their own. The appraisers, after doing their separate research and inspections, will then come up with an agreed upon value for your totaled car.
If you have questions or would like to schedule an appraisal, please call today!
(239) 249-8999 Naples/Ft Myers/Sarasota
(954) 732-6241 Miami/Ft. Lauderdale/Palm Beach.