Auto Insurance Claims: Diminished Value (DV), value appraisals, diminished value

Question
I was involved in an auto accident while in Atlanta, GA. in June. The other party at fault is insured by another company, other than mine. They have offered me $400 for the DV. My car is a 2010 model in excellent condition before the accident with 13,000 miles. I estimate the value to be at around $16,500 prior to collision. Repairs total over $6,000 which the other party insurance will pay. The car was damaged in the front, back, hood, both front fenders, and left front door. Is $400 for the DV low?

Answer
Hi Mel,

Based on the information you provided, $400.00 is extremely low. Your loss will likely be in the range of $2,000 to $3,000.

To obtain proper compensation for diminishied value you will need to hire a professional vehicle appraiser that specializes in diminisihed value appraisals. For more information on diminished value visit www.collisionclaims.com .

I hope this helps
Richard Hixenbaugh