FAQ's on Diminished Value Vehicles, Total Loss Car and Loss of Usage Claims
How long do I have to make a claim?
All insurance claims have time limits depending on your state. Don’t let the opportunity to obtain a fair settlement pass you by.
What is Diminished Value?
This is the amount which you as a seller will be forced to reduce the price of your vehicle before a willing buyer will accept the price due to the vehicle now having an accident history. Dealers and private purchasers will not be willing to accept the perceived liability of the repairs even when done to industry standards. More...
How do I file a Diminished Value claim?
Simply go HERE and follow our easy steps to see if you qualify.
How long will my claim take?
In most Total Auto Loss cases, we will reach a settlement in 1-2 weeks after an insurance company appraisal is ordered. Vehicle Diminished Value and Loss of Usage claims typically take longer to settle.
Can I handle this claim myself?
Ready2Appraise.com will provide you with the appraisal and all necessary documents for your use in filing a claim. More...
Does my Independent Auto Appraisal Company have to be located in my area?
No. Ready2Appraise.com is located in Fresno, CA but can serve clients throughout the U.S.
What is Rule 17c?
Rule 17c is a result of a Georgia court ruling (Mabry v. State Farm Insurance) as an attempt to gain settlement in this case. This Rule was developed by a committee including insurance company representatives and resulted in a very bad formula to determine Diminished Value amounts. This Rule has proven to be so bad that the Georgia Supreme Court has now disallowed its use as a binding factor in Georgia. Do not settle for a Diminished Value claim based on Rule 17c!
What is Loss of Vehicle Usage?
Very briefly, you were owed a vehicle equal to your own to use during the repair process; or you may choose to take the money instead of a rental if you prefer. If you were given a rental car of lesser value than your own vehicle, you may be entitled to the monetary difference between the two rentals. Click HERE to see if you qualify.
What is a Total Loss?
A Total Loss Vehicle is one where the cost of repairs to the vehicle exceeds its value. This cost considers rental car, repairs, and salvage value the wreck may have. As a general rule, most insurance companies will consider any vehicle in which repair estimates exceed 60% of the vehicle’s Market Value as a probable Total Loss. More...
My Total Loss vehicle has a Salvaged Title; What do I do?
If your vehicle has a prior Salvaged Title, you may be offered only 50% of retail value as a settlement. More...
How is a Total Loss evaluated?
Most insurance companies utilize a large “information service” to develop a market value for your vehicle. Many times these values are understated due to several factors including missing options to the vehicle, using substandard vehicles as “comparables” and relying on a computer database to evaluate your car. More...
Can I dispute this value?
Yes you can! Under the “Independent Appraiser Rule” contained in most auto insurance policies, we will challenge the settlement offer and require the insurance company to reevaluate your loss.
Will I need an appraisal on my car?
If you wish to pursue a Diminished Value or Total Loss Valuation claim, we will provide the needed appraisal to establish your monetary loss caused by this claim. Learn more...
What is Fair Market Value?
The price for which your vehicle will sell on the open market between a willing buyer and willing seller when all factors contributing to the sale are known to both parties. More...
What is a Third Party claim?
Simply stated, the other party was at fault for the accident. This removes the limitations set forth by your insurance company on this claim. Learn more...
What are the hours of our call center?
Our representatives are available 8:30 a.m. to 5:00 p.m. Monday through Friday, Pacific time; Saturdays 9:00 a.m. till noon. Our message center is available 24-7 for your convenience.