What Is Diminution of Value?

Diminution of Value is the quantifiable difference between a vehicle's fair market value immediately before a loss and the same vehicle's fair market value immediately after the loss. NC General Statute 20-71.4; Disclosure law as known by most; states that cost of repairing that vehicle exceeds twenty-five percent (25%) of its fair market retail value and vehicle is five years or less model years old, then the seller must disclose that vehicle has been damaged. This then reduces the value of said vehicle. There are several factors which then would determine the fair market value of this vehicle; was vehicle damaged 25% or 50%, etc.; was the vehicle repaired properly according to industry standards; can average consumer tell that vehicle has been damaged; were structural repairs made, etc.

The Claims Group specializes in these types of claims providing a fair independent analysis of the vehicle.

Here’s what you get:

1. Vehicle Evaluation Report
2. Automobile Diminished Value Report (includes Frame/Unibody damages, etc.)
3. Claims Analyst Report explanations for/against loss of value
4. Supporting Photos
5. CARFAX, Inc. Report
6. NC DMV Report
7. Final copy of estimated repairs w/supplements

All professionally bound in a portfolio and backed by 30+ years of experience in material damage claims.