DIMINISHED VALUE APPRAISALS
DIMINUTION OF VALUE/ DIMINISHED VALUE:
A rule of Damages which provides for the difference between 'before' and 'after' Actual Cash Value of property which has been damaged and repaired. Even if your car looks great after repairs, you still may have diminished value, because it has now inherited the stigma of being a wrecked and repaired vehicle.
DIMINISHED VALUE APPRAISALS:
D.V. Appraisals should be performed within the guildelines of the def inition of recognized expertise. Though they may not be required to be a licensed adjuster, your D.V. Appraiser of choice should possess the knowledge and experience to complete the quality Market Research and Investigations necessary to more accurately and reasonably determine the Diminished Value.
* In most cases, you must be the "No-fault Claimant" or be filing a claim under the "Un-insured Motorist" section of your policy.