FAQs
Answering Some Commonly Asked Questions
Wondering what DMV is? Don’t know what to do after an accident or want to see how the valuation process works? At Jared’s Auto Appraisals, we promise to provide comprehensive answers to your questions and ensure you understand the entire process.
What is Diminished Value?
Diminished value is the difference between the car's market value before damage and its post-recovery value.
It's quite different from usual car depreciation from general wear and tear.
Even with quality repairs and recovery, your vehicle will lose value after an accident because it will reduce its resale demand.
What Factors Affect Diminished Value?
Various factors affect diminished value, such as:
Loss date
Age and type of vehicle
Mileage at the time of damage
Condition and market value of the vehicle before the loss
Type and extent of damage
Parts, materials, and labor are used in the recovery process.
Calculating Diminished Value
At Jared’s Auto Appraisals, we use comprehensive and robust techniques to evaluate and calculate the value of your damage. Having done over 25,000 appraisals over our 18-year illusive history, we conduct strong market surveys, utilize independent sales data, and contact our reliable and recognized industry sources to determine the loss value. Our reports are known for their unbiasedness, integrity, and reliability. As a result, your insurer will have no problem accepting the report.
Get Started with Jared’s Auto Appraisals
When it comes to damage evaluation, post-recovery settlements, and ACV arbitration, time is of the essence, and you need to act quickly if you want to recover your losses. This is why you must work with experienced, professional, reliable appraisers who can provide quick, seamless, and swift services.
Act quickly and recover your vehicle’s lost value by filing a diminished value claim. If your insurance company is proving to be a headache, our reports will ensure that every requirement is met. Get in touch with the experts at Jared’s Auto Appraisals for a comprehensive valuation.