DV in WI

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Moonshinedrunkenmonk
Posts: 2
Joined: Thu Oct 22, 2020 3:31 am

DV in WI

Post by Moonshinedrunkenmonk »

I was in an accident in 2018 where my new F-150 with 4K miles was rear ended. The result was $15K in damages to include a new frame for my truck. The other drivers insurance paid for the repairs and a rental while my truck was in the shop. I did not file a DV claim as I had never heard of DV. Fast forward to 2-3 weeks ago and I filed a DV claim with Progressive and attached a DV appraisal from Sun Auto Appraisals. Progressive quickly denied my claim calling the appraisal speculative and saying they only pay DV once a claimant has sold their vehicle. Obvious bs. Based on the awesome advice I’ve seen on this forum I filed a complaint with the WI insurance commission earlier today.

The question I have is based on the legal PDF you linked to in the FAQ’s thread. For a third party claim in WI it states that the claimant is entitled to the value of repairs or the DV which ever is greater. It goes on to say that, however DV may be claimed if the claimant can prove that the repairs did not bring the vehicle back to pre accident value (that may not be the exact wording but is the gist of it as I recall). With that in mind, is my DV appraisal, which I find very impressive, my proof that the repairs did not bring my vehicle back to pre accident value?

Awesome site and great info! Thanks for putting this all together!
Simon
Posts: 26
Joined: Tue Sep 29, 2020 11:55 am

Re: DV in WI

Post by Simon »

Welcome and thank you for the kind words!

You're right, the denial is pure BS. If you want to have some fun, ask them to put it in writing that they've never paid out DV on a vehicle that hasn't been sold. Hint: you won't get it. You can also ask them how they determine the value of totaled vehicles if the vehicle cannot be magically returned to the pre-accident state and sold in the past?

Even though Sun Auto Appraisals are my competitor, my impression of them is quite good.
With that in mind, is my DV appraisal, which I find very impressive, my proof that the repairs did not bring my vehicle back to pre accident value?
That's exactly what it is.

The Insurance Commission complaint should escalate your case to a higher-ranked adjuster who might be more reasonable. If they aren't, just file in Small Claims against their Insured and let them dance.

Keep us updated! :)
Do you need more help? Sick of adjuster lies? Check out these resources!

How to choose a reputable diminished value appraiser?
How does a diminished value claim work for a car accident?
Frequently Asked Questions about Diminished Value

Simon Galperin is a senior auto appraiser at Tiger DV and an expert on diminished value. He consults attorneys, insurance companies and individual car owners on the subject of automotive diminished value.
Moonshinedrunkenmonk
Posts: 2
Joined: Thu Oct 22, 2020 3:31 am

Re: DV in WI

Post by Moonshinedrunkenmonk »

UPDATE

I filed my complaint with the Insurance Commissioner and got a call back from Progressive the next day. This new Progressive agent now says that they are willing to consider my claim but essentially said the value of my claim ($10K) is ridiculous and I’d be lucky to get $3K. They are going to have it appraised by one of their appraisers and send that report back to me. Obviously since this guy works for them, his report will be way lower than the one I already have so we’ll see. I’ll keep everyone posted.
Simon
Posts: 26
Joined: Tue Sep 29, 2020 11:55 am

Re: DV in WI

Post by Simon »

Moonshinedrunkenmonk wrote: Thu Nov 05, 2020 7:55 pm UPDATE

I filed my complaint with the Insurance Commissioner and got a call back from Progressive the next day. This new Progressive agent now says that they are willing to consider my claim but essentially said the value of my claim ($10K) is ridiculous and I’d be lucky to get $3K. They are going to have it appraised by one of their appraisers and send that report back to me. Obviously since this guy works for them, his report will be way lower than the one I already have so we’ll see. I’ll keep everyone posted.
Wow, from $0 to $3000 overnight is pretty good, I'd say we're making good progress! :D

You don't have to agree to any additional inspections. As you gathered, their appraisal is just a ploy to lowball you.

Anyway, now this is basically a matter of seeing if they will offer high enough for you to be satisfied (I don't know what's the minimum you're willing to accept). If not, then the next step is Small Claims. You can tell them now, that if they don't start making reasonable offers the next step after the Commish is Small Claims and you're ready to go.
Do you need more help? Sick of adjuster lies? Check out these resources!

How to choose a reputable diminished value appraiser?
How does a diminished value claim work for a car accident?
Frequently Asked Questions about Diminished Value

Simon Galperin is a senior auto appraiser at Tiger DV and an expert on diminished value. He consults attorneys, insurance companies and individual car owners on the subject of automotive diminished value.
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