Involved in an auto or RV accident in the last 2 years?
Your vehicle was struck by a negligent driver?
And you may be owed thousands of dollars or more with a "Diminished Value Claim"
Did you know your vehicle is potentially worth thousands of dollars less as a result of an auto accident and consequent repairs? Did you know you can recoup this value in many cases??
Rapid Appraisal Services offers professional, affordable and honest diminished value claim assessments. Our reports have been utilized successful for over 17+ years to help Texas get back their vehicle's lost value.
This page will provide you insight into the often misunderstood world of Diminished Value Claims. Please contact Rapid Appraisal Services to see if a Diminished Value Claim assessment and report are right for you.
Body shop related Diminished Value - he insurance industry as 'Diminished Value', is the loss in market value of a particular automobile that has been in an accident and repaired. This can further be broken down into 3 subcategories:
The accident must not be your fault. This applies to any 3rd party liability claim, as well as Under-insured/uninsured coverage claims on your own policy.
Immediately contact Rapid Appraisal Services for a no obligation, FREE review of your loss and potential for Diminished value recovery. Even if they make you an offer, it is possibly artificially low. The first offer is usually not a fair one... Check with us first.
Absolutely. This is an area of the insurance industry that most people never venture into, therefore it is very wise to seek the guidance of a professional company, like Rapid Appraisal Services.
We can have a report completed within 24-48 hours after discussing the claim with you and obtaining any needed documentation. If you live within 100 miles of the Houston or Dallas, TX area, we will inspect your vehicle in person prior to the report completion. Once you have reviewed and approved the completed report, we will submit it to the adjuster on your behalf for review and processing.
The fact that your vehicle was involved in an accident doesn't make you an automatic candidate for pursuing diminished value. These guidelines don't apply to every claim, but are a rough outline.
Your vehicle should:
Things that may exclude your claim:
We can produce a report within 24-48 hours of the receipt of your documents. Once the report is complete, we send it you first for a review. Once you are satisfied with the contents, we will send to the carrier. 75% of our claims are settled within 1-2 weeks after submission. Some may take longer due to insurance review, attempted denial or discussion with adjuster/opposing appraiser. In some instances, if the insurance company is unwilling to make a reasonable settlement on your diminished value claim, small claim court may be recommended to achieve your maximum settlement .
A vehicle that has no accident history is still very viable and valuable on the open market. The power of negotiation still lies with the seller, who is left in a very good financial position, should they choose to sell their car or not.
This driver has no need to pursue a diminished value claim, as their vehicle value is intact.
Even using simple economic fundamentals, any consumer would know this vehicle is worth less due to the repairs. The car likely has a CarFax or AutoCheck report history. The car is now excluded from certain dealer certified preowned programs. The power in negotiating a sale is now turned in favor of the purchaser. This vehicle owner is in a poor situation as a result of an accident and would benefit from diminished value claim recovery.
The effects of an auto accident and consequent repairs on the value and desirability of your vehicle can be dramatic. When it's time to sell your car in the future, most are shocked to find that the accident has eliminated thousands of dollars, sometime tens of thousands, in value from their vehicle. Rapid Appraisal Services is trained and experienced in getting this money back to you, where it belongs.
Texas has a wonderful legal system and insurance code that was designed to help and assist those affected by an accident. This involves diminished value claim recovery. Rapid Appraisal Services can and will use the full extent of your available rights to pursue any value you may have lost in an auto accident. TDI Commissioners Bulletin B-0027-00 outlines these rights. Don't let the insurance company dictate what you are owed for the diminished value, turn to an expert.
While diminished value can affect the resale value of your car, it can equally hurt the value even if the car is not going to be on the market. Some cars are purchased as collectibles (exotics, sport cars, tuners, etc.) These vehicles can also suffer diminished value after an accident, even if the owner has no future plans to sell. It is an investment item, that is now devalued as a result of damages and repairs. Contact Rapid Appraisal Services to secure the value of your car today, tomorrow and into the future.
Please give our office a call or send an email with any questions your may have regarding diminished value claim. Our courteous staff will answer any questions professionally and with no hassle or obligation to use our services.
If you are ready to proceed, please use the link below 'Set My Appointment' to make a secure payment via Square and schedule an appointment for inspection.