Diminished Value Process
Filing your diminished value claim requires a few steps.
- Get an appraisal
An official DV appraisal includes the calculations for your diminished value and all the supporting evidence a court could want.
2. Send a Demand Letter
A Demand Letter is sent to the insurance company, requesting a payout for your vehicles DV.
3. Negotiations
The insurance company will surely offer to settle for significantly less than your Demand Letter requested. Don't accept anything less than 80% of the Diminished Value.
4. Get Paid
If insurance offers you a diminished value amount you're happy with, the case is settled! If not, time to litigate. Insurance companies will rarely choose litigation over settlement in diminished value cases.