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Should I get a professional DV appraisal?

Posted: Mon Jan 11, 2021 8:24 pm
by Kazatzka
Am I required to get an independent appraisal? Will it make my claim easier? Where in the process should I get the appraisal?

Posted: Mon Jan 11, 2021 8:27 pm
by Simon
In many cases the insurance company will demand you obtain an appraisal before they even consider paying you a penny. In other cases they won't insist on it. Regardless, to properly prove your diminished value claim you should obtain a Diminished Value Appraisal from an independent auto appraiser. Why?

- If you don't have a proper appraisal and the insurance companies makes you a lowball offer you won't have solid documentation to back up the amount you would like to get. You can't just tell the insurance company "I want $X for DV" and expect them to pay. You need proper proof.

- Fewer than one out of a hundred car owners have heard of diminished value, let alone all the intricacies. A good appraiser will educate and guide through the claim process saving you time and money.

Most reputable diminished value appraisers offer a free estimate and some like myself offer a 100% money-back guarantee so there is no risk to you. Once you have the appraisal in hand you can submit the claim and use the appraisal as proof for the amount demanded.

The optimal time to obtain a diminished value appraisal is right after the repairs have been completed. That is because at that time the extent, nature and dollar amount of damages have been permanently established. You can also obtain a diminished value appraisal once you have a repair estimate but in some cases the actual damage amount will turn out to be different as collision repair professionals take apart the vehicle and discover that the damage is worse or better than previously estimated.