Diminished Value Claims in North Carolina
Auto accidents, regardless of severity, cause an immediate and inherent loss in value. Car shoppers would never offer the same amount of money for a car that's been wrecked & repaired as they would an undamaged counterpart.
By law in North Carolina, the at-fault driver is responsible to compensate the accident victim for their vehicle's reduction in resale market value.
Diminished Value is the market's reaction to an inferior property. This loss is paid in-cash to vehicle owners as part of an insurance claim.
Yes, the at-fault/negligent driver or their insurance company are responsible to compensate you, in cash, for your loss. 90% of the appraisal reports we process are for $2,500 or more.
In North Carolina, if collision damage to a vehicle is 25% or more of the retail value of the vehicle, the seller, by law, is required to disclose the damage by checking in a field on the vehicle's title. This information is reported to all major vehicle history reporting companies and is available to the general public. Educated buyers would never pay the same amount for that vehicle as they would an undamaged counterpart.
Steps to DV Compensation
1 - Request a Free Diminished Quote by Sending us a Copy of your Repair Estimate
2 - Order a Desk or Field Appraisal Report($225 or $425)
3 - Submit Appraisal Report to Insurance Company
4 - Negotiate Settlement and get Paid