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Are the diminished value auto appraisal experts of any help at the cost of app $300 to get back fair amount?
I had a car accident couple of months back. & trying to get fair diminished value for my car after repairs.The amount insurance adjuster is offering is very less. So I am considering of getting a diminished value auto appraisal expert to get me a fair amount. There are some websites like autoloss.com, www.diminishedvalue.com,www.autoappraisal.com,www.collisionclaims.com which claim that they have helped people getting a fair diminished value of the vehicle after accidents. They charge around $300 for the service and ask you to make payment in advance. I would like to know are these people real trustworthy to make them payment in advance and to hope them to take care of the whole diminished value affair with the insurance company. Suggestions and experiences are appreciated !
I am an auto appraisal expert, and have been an expert witness in court cases. The amount of diminished value is going to depend on several factors including age of the car, mileage, type of damage, year make and model.
If you want to email me I will be happy to take a look at the information and offer you an opinion.
$300 is very high if all they are offering you is a written report.
for 300 bucks i would get lawyer to write letter saying that the offer is wrong/got a better chance than the scam boys/the insurance companys only are intimidated by lawyer
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for $300 do they guarantee you more money for your car? if not i would pass
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I am an auto appraisal expert, and have been an expert witness in court cases. The amount of diminished value is going to depend on several factors including age of the car, mileage, type of damage, year make and model.
If you want to email me I will be happy to take a look at the information and offer you an opinion.
$300 is very high if all they are offering you is a written report.
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30 years in the auto business
In most states, you would have a very hard time proving a diminished value claim. There are a few states where they are honored regularly, but most of the time, no. I have denied many claims presented by these services in states where the statutes and case law just don’t support them.
Unless you have some sort of notation on your title due to the accident or live in Georgia, I would be very careful about plunking down $300.00 for a claim of this kind.
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Claims adjuster.
Those reports are garbage. Odds are, the insurance company will not give it any consideration. It won’t carry any weight. But the adjuster may get a chuckle out of reading it.
If you want to hire someone….hire an independent appraiser. Someone that knows cars….comes out and puts eyeballs on you car and will put together a report on his opinion of what the diminished value is. Now…you may not like what he says. He’ll call it like he sees it.
An independent appraiser is a licensed adjuster/appraiser that does not work for a specific insurance company. Frequently, insurance companies will hire them to help out when they get a high volume of claims (such as from a storm) or if they don’t have a staff adjuster in that area to handle it. But since these guys are independents….there is no reason why you could not hire one.
Companies like Crawford and Company or Property Damage Appraisers are two well known independent adjusting companies. You could probably do a google search for independent appraiser to find some that cover your local area. Your insurance agent or an adjuster with your company may be able to give you the names of some reputable IA’s. Then call them up…explain the situation and see if they can help you out. I’d also get an estimate on the cost upfront as well. Many charge a base rate of about $100-$125 and then may add for additional research, mileage. So the cost could end up as high as $300. So….get a good cost estimate up front. You may even ask if they will inspect the car and put together a report on the diminished value for a flat rate.
But remember….he’s going to call it like he sees it. His number may be one you like….or it could be one you don’t. But…if he comes back with a number you don’t like….then you know what you wanted was probably not realistic.
You could also hire a Public Adjuster. This is an adjuster you hire to represent you. However, these guys get paid a % of your settlement. Which means….the more money they get you…..the more money they get paid. The problem with this…it tends to encourage a Public Adjuster to inflate your claim. Not every state allows Public Adjusters. Again…you’d want someone that would come out and inspect your car. In order to properly determine diminished value…you have to see the car.
You could also just sell the car. Actually incur the diminished value. Of course, this means you can not just list it for a bottom of the barrel price figuring the insurance company would pay the difference. You have to actually try to sell the car for a value that’s close to retail value. The advantage of this approach…you don’t actually incur diminshed value until you sell the car. So…until the car is sold….diminished value is just a "maybe" or "what if".
**not legal advice. Only an attorney can give legal advice.
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Insurance Adjuster
I wouldn’t touch them with a 10" pole. Wow ! $300.? Even if they can get more for , would it be worth the $300 investment? The odds seem long to this old gambler. Why not simply get a few car people to give you a free estimate to see where you stand?
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