Diminished Value Appraisal
– A diminished value appraisal report measures a damaged vehicle’s inherent loss in value. The diminished value can be measured as the difference in the value of the vehicle before the loss to that after the loss, prior to or after repair. In most cases even if the repair was done expertly, the value of the automobile will still be considerably less after a loss.
When a consumer finds that a vehicle has been in an accident, most will never pay the same price for a repaired vehicle as compared to one with no loss history.
– A diminished value appraisal report is used when filing or disputing a diminished value claim against another party and/or an insurance company.