Safe Collision Repairs

Diminished Value: Your Auto Insurance Company's Best Kept Secret

Mon, 19 Mar 2007 17:38:52 PST

Here in one concise package are the facts about diminished value claims. What is diminished value? Summed up neatly, diminished value is the term given to the loss in market value a vehicle suffers as a result of an accident and repair. It is a loss based on the beliefs of most people, that once goods become damaged, they are never as valuable as they would be had they never suffered injury. Simply put, diminished value is the best-kept secret that your auto insurance company hopes you never learn.

Diminished Value Claims Get Bum Rap in Media

Thu, 15 Feb 2007 11:31:51 PST

When consumers inquire about their right to file diminished value claims (DV) after their cars have been damaged and repaired, they often hear opinions that dishearten and discourage them. The opinions come from a wide variety of sources, but mostly from people they know and trust � coworkers, friends, relatives that have had car accidents, family mechanics and body technicians, even insurance agents and adjusters. Despite the fact that we want to believe these people know what they are talking about and have our best interest at heart, their opinions regarding diminished value often miss the mark. This flood of misinformation puts consumers seeking DV facts at a great disadvantage, making it unjustifiably hard for accident victims to finalize insurance claims and collect money they are due. In this article we�ll examine some of the mistruths about diminished value and provide some facts that consumers can share. [MORE]

A $54 Million Diminished Value Claim

Sun, 04 Feb 2007 21:47:10 PST

The New York Post has reported on a lawsuit filed by Las Vegas casino developer Steve Wynn, wherein Wynn seeks to collect from Lloyd�s of London the diminished value of his prized Picasso painting, �Le Reve.� The 75 year old painting for which Wynn paid $48.4 million was damaged when Wynn accidentally poked two 3-inch holes in the canvas as he showed it off to his guests on the evening of September 30, 2006... Will billionaire Wynn prevail? Or will insurers stonewall Wynn and attempt to reject his claims in the same manner they often snub and downplay diminished value claims made by insureds and claimants after auto accidents? Click here to visit the Safe Collision Repairs blog to read the full article, A $54 Million Diminished Value Claim, and post your comments.