You can’t determine loss of value, unless you’ve taken into consideration the type of damage, not just the cost of repairs. Most Diminished value calculators are way off. They’re either too high, or too low. Even if they accidentally produce an accurate value, you’re still left with a report that probably isn’t worth the paper it’s written on. Oregon is one of only 3 states in the U.S. that has an actual Vehicle Appraiser Certification Program. If you use an appraisal or report written by someone who is not a licensed Oregon Auto Appraiser, your appraisal may not be accepted by the insurance company.
To determine your Diminished Value, first you need to determine if your final estimate is either a CCC or Audatex estimate. (NOTE: some shops will only provide you with a final bill or invoice unless you ask for the estimate of record) The CCC estimate normally has single lines separating the sections, where the Audatex estimate normally has Orange Boxes around the Section Headings. (click the thumbnail to see a larger version)
CCC Estimate
Audatex Estimate
Once you’ve determined the type of estimate of record you have, then you can start to determine the extent of damage your vehicle may have suffered.
If you’re estimate is by CCC, then look for a small “s” as shown in the examples below. The “s” means the part is a structural motor component. Also note, we’re only looking at actual labor hours, not paint hours. If there are frame hours, and it says setup and measure in the line item, this may or may not be frame damage. Today, shops may use a laser system to check your frame. If they do, you may have less loss of value as they normally do not clamp the vehicle down on the frame machine. Check to see if it says clean or repair “clamp marks”, or something similar on another line. This may indicate whether your vehicle was put on a frame machine. You can also just ask the auto body shop. If it says “mash”, “pull”, “skew”,etc. that normally means that there has been some form of repair to the vehicle’s frame. (click the thumbnails to see a larger version of the estimate examples)
If you’re estimate is by Audatex, The Key factors to look for are if there are any “07” structural damage identifiers and/or any frame repairs or hours. (click the thumbnail to see a larger version)
Remember, this diminished value calculator is for estimates only. Your actual loss value may be more or less. In general, it is usually close to a provable value. Beware appraisers who do not specialize in diminished value. If your appraisal only states the values only, and has no verbiage to address arguments that the insurance company’s appraiser may produce, you may end up with nothing at all.
Please Note: Although we use NADA values in this estimator, we normally do not use NADA in our appraisals as we feel the values do not correctly reflect the market. We are only using NADA for user convenience in this situation. Now that you have an approximate idea how large your claim is, let’s get a little more accurate and have an appraiser provide you with a free estimate. Just Click Here for a Free Diminished Value Estimate.
