Our client called us after his vehicle was repaired to “pre accident condition”.
His BRAND NEW 2021 vehicle with only 463 miles on the clock was hit by an at fault and properly insured driver. His Auto Body Shop refereed him to DVAC.
The responsible insurance company paid $9862.81 in collision repairs as appropriate. The owner of the vehicle was not familiar with Diminishment of Value (DOV) until the Auto Body Shop explained his rights. After the vehicle owner retained us, we invoked the appraisal clause and the at fault insurance company had to hire their own appraiser. Unfortunately they hired an appraiser who only appraises for insurance company clients. He low balled his DOV figure.
The insurance company appraiser said DOV was only $1200.00. We rejected his amount and went to umpire. After reviewing both reports the umpire said the vehicle owner was entitled to $7800.00.
It pays to hire a licensed/objective 3rd party professional. The correct Diminishment of Value (DOV) is what it is no matter who the client is.
