Trust DVAC to
Recover the True Value of Your Vehicle.
Trust DVAC to
Recover the True Value of Your Vehicle.
Statute of Limitations to File:
File First Party Claim:
File Third Party Claim:
Diminished Value Through Uninsured Motorist Coverage:
Small Claims Max Filling:
OUR PROVEN PROCESS
Start the process with a FREE consultation when you call us at (877) 879-0101 or fill out our Appraisal Form and we will contact you within minutes!
We analyze data to determine your vehicle’s true diminished value and deliver a quick, accurate appraisal that insurance companies can’t ignore.
We don’t stop at a report. We advise and support you through negotiations every step of the way until you receive your rightful compensation.
Experiencing a vehicle accident is a distressing event that can leave lasting effects. It’s crucial to handle the aftermath with composure and a clear plan of action to safeguard yourself and others involved. Whether it’s a minor bump or a major collision, understanding the steps to take can significantly impact your recovery process. In addition […]
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Diminished value is recoverable in third-party cases and through your own uninsured motorist coverage. Minimum liability coverage is required and the statute of limitations to file a claim is 3 years from the date of the accident. Statute GS 20-279.21.
North Carolina is a Diminished Value state. In North Carolina “The plaintiff’s actual property damages are equal to the difference between the fair market value of the property immediately before it was damaged and its fair market value immediately after it was damaged.”
This Diminution of Value takes place through what is can be defined as the appraisal clause:
The difference in the claimant’s and our estimate of the diminution in fair market value is greater than two thousand dollars ($2,000) or twenty-five percent (25%) of the fair market retail value of the vehicle prior to the accident as determined by the latest edition of the National Automobile Dealers Association Pricing Guide Book or other publications approved by the Commissioner of Insurance, whichever is less.
Translation: To submit a diminished value (DV) appraisal to an at-fault insurance company, the DV appraisal must be at least $2000 greater than what you have been offered or a difference of 25% reduction in value in order to formally invoke the appraisal clause. Once invoked, the insurance company must hire their own third party appraiser to complete their own independent assessment of the vehicle’s diminished value. The insurance hired appraiser must reach out to your appraiser and the two third party appraisers negotiate and come to a mutual agreement for the vehicle’s inherent diminished value. The at-fault insurance company must then settle for the agreed-to diminished value figure.
Even after repairs, your car may lose resale value due to its accident history—known as diminished value. Many buyers avoid damaged vehicles or expect a discount, but you have the right to file a diminished value claim. Some insurance companies won’t inform you of your right to an independent appraisal and often minimize payouts. With accurate data and a strong claim, DVAC ensures you get the compensation you deserve.
Call DVAC at 877-879-0101 for a FREE consultation or Start your Appraisal now!
