Question 1

What is diminished value?

Accepted Answer

After an accident, your car's market value will decrease even if it goes through all of the necessary procedures to restore it back to its prior condition. Diminished value is the difference in your car's market value before and after an accident. Even if you try to resell your vehicle, Carfax and similar reports will show that it has been involved in an accident, which will reduce its market value. A diminished value claim documents this difference so it can be addressed through the claims process.

Question 2

How do I collect on diminished value?

Accepted Answer

Pursuing a diminished value claim can be a detailed process. Consulting a professional Diminished Value claim specialist can help. The claims process varies on a state-by-state and case-by-case basis. Although the concept of diminished value has long been recognized by many states' legal systems, settlement offers may not always reflect the full diminished value amount. With a thorough, independent appraisal, there are opportunities to ensure the full diminished value of your repaired vehicle is properly documented.

Question 3

How much is a diminished value claim typically worth?

Accepted Answer

The amount identified in a diminished value appraisal depends on several factors including your vehicle's age, mileage, condition before the accident, and the severity of damage. Our appraisals have identified differences ranging from a few hundred dollars to over $10,000. During your free consultation, we can provide an estimate based on your specific situation.

Question 4

Can I refuse the amount of loss given to me by the insurance company?

Accepted Answer

Yes, you have the right to request a review of the offer. Settlement offers may not always reflect current market conditions for your specific vehicle. An independent appraisal can help determine whether the offer aligns with your vehicle's fair market value, and we provide objective documentation to support the claims process.

Question 5

What is the Right to Appraisal?

Accepted Answer

The Right to Appraisal is a clause in most insurance policies that allows you to dispute the insurance company's valuation of your vehicle. If you and your insurance company cannot agree on the value, you can invoke this clause to have an independent appraiser evaluate your claim. We can serve as the independent appraiser in this process and provide a thorough, documented valuation.

Question 6

Do I need a lawyer to file a diminished value claim?

Accepted Answer

Not necessarily. While lawyers can help with complex cases, many diminished value claims can be handled effectively with a professional, independent appraisal. We prepare certified appraisal reports and can provide documentation to support the claims process. However, if your case involves a lawsuit, consulting with an attorney may be beneficial.

Question 7

How much does an appraisal cost?

Accepted Answer

Our pricing is straightforward: Diminished Value Appraisals start at $500, and Total Loss Appraisals/Arbitration start at $600. For exotic vehicles valued over $100k, both services are $950. Contact us for a free consultation and quote tailored to your specific situation.

Question 8

What services do you offer?

Accepted Answer

We offer four main services: 1) Diminished Value Appraisals to document the change in your vehicle's market value after an accident, 2) Actual Cash Value Appraisals for total loss situations, 3) Right to Appraisal representation when there is a disagreement on vehicle valuation, and 4) Post-Repair Inspections to verify your vehicle was repaired correctly to OEM specifications.

Question 9

Do you offer free consultations?

Accepted Answer

Yes! We offer free consultations and estimates. During the consultation, we'll evaluate your situation, explain your options, and provide an honest assessment of whether our services can help you. There's no obligation to proceed.

Question 10

What should I do whenever I'm involved in an accident?

Accepted Answer

No matter how little the damages sustained by your car, it is always advisable to report every case of accident to the police. Then, contact your insurance company. If you then contact Collision Safety Consultants of Houston, we may recommend trusted shops in the area that can help you repair your vehicle, and also carry out a post-repair inspection on your car to be sure that the repair was done in accordance with OEM standards.

Question 11

How long does the appraisal process take?

Accepted Answer

Our Diminished Value Report typically takes about 2 hours to complete. The overall timeline for resolving your claim with the insurance company varies depending on the complexity of your case and the insurance company's responsiveness, but we work efficiently to get you results as quickly as possible.

Question 12

Do I need to bring my car to you for an inspection?

Accepted Answer

It depends on the service. For diminished value appraisals, we often can work with photos and documentation. For post-repair inspections, we typically need to see the vehicle in person to properly assess the quality of repairs. We'll discuss the specific requirements during your consultation.

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