A Totaled Car Value Can be More Than Your Insurance Company Tells You

Portland, Ore. – When a car is in an accident the extent of damages are usually evaluated by the Insurance adjustor. The job of these people is to assess how bad the damage is and to what amount the claimant is entitled to. Most times their decision is based upon estimates provided by a few repair shops in hopes of getting the lowest price possible. That’s only if the vehicle can be fixed. But what happens when your car in completely demolished?

According to Appraisal Group of America, the leading experts in the field of Diminished Value; “55% of consumers would not buy a car that had been in an accident. 81% would not have a car that had been in a wreck unless they were given a large discount.”

The real value of a car is not just in its physical appearance or abilities but in what it was worth to the owner. Sentimental value aside, the real importance of the auto to the owner can be measured and involves Diminished Value. Diminished value is the automatic loss in value from a collision. Almost every vehicle that has been in a wreck will have some form of inherent diminished value.

Unfortunately most car owners are not aware of this. No matter what type of vehicle has been damaged or a total loss; RV appraisal or tiny economy car appraisals all come under the heading of the Diminished Value Claims. Take a look at this example: www.autoloss.com/diminished-value.htm

Your one-year-old vehicle is worth $30,000. One day, you’re hit by another car, causing $5,000 in damage. Your insurance company pays for the repairs.

Your car newly repaired car is still worth, $30,000 right? Wrong. Although your body shop does an excellent job, and your vehicle looks as good as it did before the accident, it’s now much less desirable having been in a collision, should you decide to sell it now, or down the road.

Although the insurance company will be quick to write a check for the repairs, getting them to cough up money for Diminished Value, the worth of the vehicle’s perceived selling value is more challenging and requires a greater knowledge of your rights. The claims for diminished value can even be paid for by the other party’s insurance and not just yours. A totaled car value can be more than your insurance company tells you.

For more information on independent appraisals and diminished value contact Terry Fisher at Autoloss.com and get a free quote online for your diminished value appraisal. Call them Toll-Free at (877) 655-1661. The typical insurance company auto appraisal doesn’t always give owners full compensation and many times claimants are unaware of the Insurance industry’s biggest secret – Diminished Value.

About Autoloss.com:

Since 1996, Appraisal Group of America has been involved in appraising 1000’s of cars, import as well as domestic, trucks, exotics, RV’s, automotive tools, collector cars, semi-trucks, heavy equipment and boats. The company has developed a client list which includes The Federal Bureau of Investigation, Drug Enforcement Agency, United Stated Marshal Service, United States Dept of Justice, NW Investment Cars, GMAC, Ford Motor Credit, Mazda American Credit and numerous influential lawyers as well as credit unions, banks, and other financial institutions in the nation.