How do you claim Diminished Value? What do I need to file a claim? How do I get the Insurance company to pay Diminished Value? How much will I get? Negotiating the Claim. So now you have your appraisal in hand, it’s time to send it over to the insurance company. You’ll want to include a demand letter also (yes we include a sample demand letter for you). The demand letter makes it official and gives them 30 days to give you a reasonable offer. I’ve found that most companies will normally settle a Diminished Value Claim around 50 to 85 percent of the appraisal as long as the appraisal is not over inflated or under valued.
The number one question I’m asked is “do I need an attorney?”. I’m not a lawyer and I can’t give you legal advice, so ultimately, that’s your decision. I can tell you, from what I’m told by clients, most of them believe they settle quicker and for close to the same amount as if they used an attorney. The biggest difference is they get to keep 100% of the claim instead of giving up 30-50%. Attorneys know that most Diminished Value claims settle quickly, that’s why they’re so interested in signing you for a 40% commission. 40% of $3000 is $1200., and most of the time for sending a simple demand letter. Yes, we give you a sample demand letter with your appraisal.
Here’s what an Clients had to say on his 2002 BMW 325i with 123,000 miles. “I am amazed at the service that I received from Ken Nix at Diminished Value of Oregon. He was extremely thorough, at times I even thought this guy works really hard for the small fee that he charged me upfront. It was worth every penny because in the end after negotiating with the insurance company , I got his fee back that I paid upfront and the settled amount of the claim was over 1500% , that’s 15 times more than my original cost to hire Ken !!!! Thats a whole lot better than Ive been doing in the stock market lately !!!! My 1st offer from the insurance company was $100.00. If it wasn’t for Ken and his knowledge I would have never got $1770.00 !!!! Thanks again Ken !!!!
Sincerely Doug W.
2002 BMW 325i
Troutdale, Oregon”
To receive a free quote and estimate of your diminished value please fill out the form on the right. Ken will normally contact you by phone within 2 hours to give you a free estimate of how much diminished value you have.
When picking a Diminished Value Oregon appraiser, make sure you pick one who will work for you.
Ken Nix is Licensed by the State of Oregon to prepare Vehicle Appraisals and personally prepares and signs each appraisal.(most other companies do not sign off on their Diminished Value “reports”)
Ken ONLY WORKS FOR CONSUMERS. (Most DV Appraisers also work for the insurance companies, who supply them with a large amount of business. Ken feels that it is a conflict of interest to work for both insurance companies and their claimants. Ken gives a solid, unbiased, honest valuation, never inflated or deflated values to secure the integrity of all of his appraisals).
Our Appraisals cover all types of Diminished Value including repair related diminished value, not just Inherent, which can lead to a larger and stronger claim.
We Specialize in Diminished Value and Total Loss Claims.
We inspect, investigate and collect evidence to ensure our appraisals provide a valuation that is coherent, logical and based on facts that will give you a strong advantage when compared to other appraisals. We believe in quality over quantity and will spend the time to ensure your appraisal is completed to the best of our ability.
We like to get involved immediately after the car wreck. Why? It enables us to build a story of the damage. Photos of structural or frame damage hold more weight than words. We’re also able to advocate for you, and may be able to help you achieve better repairs done right the first time.
We charge one of the lowest flat fees in the Nation and do not charge extra if we have to do more legwork to build a solid appraisal. We Never Take A Percentage Of Your Claim. (Most of our clients settle without any attorney involvement)
We take the time to prepare your appraisal right. Each appraisal is unique, prepared by a State of Oregon certified and licensed vehicle appraiser, not someone “certified by another business in Florida, Ohio, Texas, Georgia or Arizona and operating from a mail drop in Portland, Oregon.
Although we can’t give you legal advice, we can provide information. Our appraisals give you easy, color coded negotiation points. Enabling you to talk intelligently about the appraisal without a lot of effort. Ken will also personally analyze the insurance company’s diminished value report and shows you how to reduce the integrity of their report. Degrading their report is as important as having a good solid appraisal.
Have a question? I’m happy to answer your questions 8am-10pm 7 days a week. Call me, you’ll be glad you did! – Ken
Diminished Value Oregon
Welcome to Diminished Value of Oregon’s website. We developed this website to help educate our neighbors about their rights and help them recover their loss of value due to a car accident in the State of Oregon. In this site you’ll find examples of actual Diminished Value Oregon claims, Total Loss claims, tips to help you recover your loss and even the Insurance Companies Phone Numbers. Our Diminished Value and Total Loss Car Appraisals are designed to be easy to read not only for the professional, but also for the layman.
What is Diminished Value? According to Wikipedia, Diminished Value is the reduction in a vehicle’s market value occurring after a vehicle is wrecked and repaired, otherwise called accelerated depreciation. Simply put, a reasonable person will not pay the same amount for an identical car that has had previous damage. If an 2011 Honda Odyssey had a pre-loss value of $35,000 and had frame damage and 12,000 in damage repairs, it could easily have over 10,000 in Diminished Value. Most dealers will immediately reduce the trade allotment for a vehicle by 35-50% if they know it has had frame damage. Hence, the diminution in value.
Do I Qualify for Diminished Value?
If you were in an accident and your vehicle was damaged.
If you are the owner, or buying the car, (Leasing does not count. It would be the Leasing company that would be awarded the Diminished Value.)
If your accident was less than six years ago.
Is you vehicle worth more than $7500?
Do you have more than $1000 in damage?
If you answered yes to all 5 questions, you probably have Diminished Value and you should speak to one of our representatives. Please call now: 503.420.3333
What is Total Loss? Total Loss is a situation in which a vehicle is damaged and the cost of repair and salvage would exceed the vehicle’s market value. Most people know this as having their car Totaled. In this instance, you wouldn’t need a Diminished Value Appraisal, but you would need a Retail Market Value Appraisal. This would determine how much your vehicle is worth in your automotive market. If you lived in the Portland, Oregon metro area, you would need a value for the Portland, Oregon Market.
Our Auto Appraisals. We specialize in Total Loss Market Value and Diminished Value Appraisals, for Economy Cars, Everyday Drivers, Muscle Cars, Late Model Specialty Vehicles, Import autos, Mid Line Luxury, High Line Luxury, Super Cars and other late model exotics. Our vehicle scope is 1960 and newer vehicles. We consider most automobiles manufactured prior to 1960 with the exception of Porsche, to be outside our normal automotive appraisal scope and motorcycles manufactured prior to 1975 to also be outside our normal scope.
Why Pick Diminished Value of Oregon? Our appraisals are developed to be as accurate as possible. Because we are known to not exaggerate claims and are bound by ethical standards and the methodology of the Uniform Standards of Professional Appraisal Practice. Our appraisers are familiar with and utilize methods which are acceptable to other appraisers familiar with the assignment. Initially an appraiser will gather specific, preliminary data, such as the nature of the property, the interests appraised, the basis of value, the effective date of the valuation and the assumptions or hypothetical conditions, based on this information, we then rely on peer reviewed methodology to formulate an acceptable plan of action to develop the report.
Get What You Deserve! Oregon has some of the best Consumer advocate laws in the country when it comes to Diminished Value and Total Loss. Don’t make the mistake of using an out of state appraiser who is not authorized by Oregon Department Of Transportation (ODOT) to appraise vehicles in the state of Oregon. Oregon is one of the few states who require appraisers to be licensed.
What is the different between a A Diminished Value Report and a Diminished Value Appraisal? It depends on who’s providing the document. There are some scam artists that use the “report” name to skate by having an appraiser’s license. Normally they’re the same thing. A Diminished Value report is a third party appraisal and inspection conducted to measure the reduction in value of a motor vehicle after an accident. Since Diminished Value is the difference between the pre-loss and post-repair values, this assessment is usually conducted after the vehicle has been repaired.Reports are usually compiled by an unbiased and licensed auto appraisal company for a minimal fee as an appraiser is prohibited from collecting a percentage of loss. This report is used when filing or disputing a diminished value claim with an insurance company.
What Body Shop Do We Suggest? Due to the Insurance industry having such a strong hold on body shops, there are very few shops that I recommend. Here’s a very short list of shops that I believe have the consumer’s best interest at heart.
Leif’s Collision Center. Leif has been advocating for consumers in Oregon for years and does the work the correct way every time. He’s given his time to advocate for my clients, without a thought of what’s in it for him. He’s a trusted advisor and has advocated for several of my clients. If there is an re-inspection needed, I normally ask Leif to do it. He has gone above and beyond to advocate for my clients numerous times without any monetary gain. He’s that friend you really want on your side. Leif’s is my number one recommended shop to use. NOTE: We receive no compensation from Leif’s and recommend Leif’s due to our client’s experience, seeing higher quality repairs, and Leif’s availability of specialized tools and equipment other Portland area body shops don’t possess. No repair shop is 100% without error, Leif’s makes mistakes too, otherwise they wouldn’t be human. We do see more repairs done right the first time when they’re done at Leif’s when compared to other Auto Body Repair Shops in the Portland Metro Area. – Ken Nix
Canyon Road Body Shop. Part of Bob Lanphere’s Dealer network, I have known Sabre, the manager and most of the staff personally for nearly 10 years. They’ve always been forthcoming with information and have helped advocate for my clients many times. With 103 out of 117 reviews being 5 star, you know they’re good. If you have a Honda, Infinity, Kia or Chrysler Product, this is definitely a good choice.
Precision Body & Paint. I’ve dealt with them and they are always both forthcoming with information and accommodating to our inspections. They specialize in Audi, Porsche, Volkswagen and Volvo.
Fill Out The Form Below To Receive A Free Diminished Value Or Total Loss Estimate.
Professor Puppet Answers The Question, What Is Diminished Value?
DisCLAIMER:
Ken Nix is an appraiser only and does not offer legal or tax advise. The
information presented at this site is for informational purposes only and should not in any way be construed
to be legal advice. If you are in need of legal advice, you should seek
the help of a qualified attorney in your area. This site is not intended
to solicit clients outside of the State of Oregon. Laws vary by state
and you are urged to research the specific laws and your rights within
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Diminished Value of Oregon Auto Appraisers. 4264 SW Plumeria Way, Beaverton OR. 97007 (503)431-0539