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Total Loss Appraisal Service
Ensuring Fair Compensation for Your Totaled Vehicle
When a vehicle sustains a lot of damage in an accident, it may be declared a total loss by the insurance company. At D'VA Diminished Value Associates, we specialize in providing total loss appraisal services to ensure that a vehicle owner receives fair compensation for their totaled vehicle. Our team of experts is dedicated to helping them navigate the complex process of valuing their vehicle. D'VA provides appraisers who are experts in negotiating with insurance companies.
What is a Total Loss?
A vehicle is considered a total loss when the costs to repair the vehicle exceeds what the insurance company is willing to pay for repairs. Factors that determine a total loss include the extent of the damage, the vehicle's pre-loss condition, and current market value.
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The Importance of Accurate Total Loss Valuation
When a vehicle is declared a total loss, it is crucial to ensure that the owner receives fair compensation from the insurance company. Accepting an insufficient settlement can leave one financially burdened and unable to replace their vehicle with a comparable one. Our team at D'VA Diminished Value Associates along with our Certified Appraisers understand the importance of accurate valuation and work diligently to protect the owners interests.
Our Total Loss Appraisal Process
At D'VA Diminished Value Associates, we provide a complete appraisal process to determine the pre-loss value of your totaled vehicle. To initiate the process, clients typically need to provide a CCC report (or similar valuation report) from the insurance company.
Once our appraiser reviews the report provided from the insurance company we can advise you if the offer is a valid offer. If our appraiser finds that the amount being offered is significantly lower than our assessment, we advise you as to the best course of action. This evaluation is done as a Free Consultation. If we find the offer to be fair, we will advise you to accept the offer and you will not be charged any fees.
When the offer is considered by our appraisers to be a low offer that should be challenged, you will have the option to purchase an appraisal to send proof to the insurance company that they should increase their offer. You can also choose to have our appraiser negotiate the offer for you, leveraging our expertise to advocate for the compensation you deserve. This thorough and professional approach ensures that you are fully supported throughout the entire process, allowing you to focus on other important matters while we work to secure your rightful offer.
Your Options for Total Loss:
Purchase a Total Loss Appraisal
The owner can obtain an appraisal from our Total Loss expert appraiser and present it to the insurance company as evidence of their vehicle's actual cash value in an effort to secure a fair offer. If this approach does not yield satisfactory results, the owner can then invoke the Appraisal Clause as an alternative method to pursue the valuation they believe their vehicle deserves.
Invoke the Appraisal Clause
Many insurance policies include an appraisal clause that permits an independent evaluation of the total loss value. If there is a disagreement over the insurance company’s valuation, the owner can invoke this clause through their insurance policy. This process is designed to help ensure a fair settlement is received for their totaled vehicle, regardless of fault. It’s important to note that the Appraisal Clause must be formally filed with the owner’s insurance company.
Once invoked, your insurance company will engage an independent appraiser to assess the vehicle's value. D’VA Diminished Value Associates can assist the owner in obtaining an appraisal to support their case. After both appraisers complete their evaluations, they will negotiate the compensation amount. If they cannot reach an agreement, a third appraiser will be appointed as an Umpire. Both the owner and their insurance company will be bound by the Umpire's final decision, and the cost of the Umpire’s fees will be shared by both parties.
D'VA Diminished Value Associates' appraisers have extensive experience with the appraisal clause process and will guide the owner through each step, ensuring their rights are protected and they receive what they are owed.
Case Study: John's Total Loss Claim
John, a client of D'VA Diminished Value Associates, was involved in an accident that left his vehicle totaled. The insurance company initially offered him $10,000 for his loss. Unsatisfied with the offer, John enlisted our services. Our appraisers conducted a thorough evaluation and determined that his vehicle's pre-loss value was $23,100. D’VA’s appraiser negotiated with the insurance company on John's behalf and ultimately secured a settlement of $18,100, an increase of $8,100 from the initial offer.
Navigating State-Specific Total Loss Regulations
Total loss regulations and processes vary by state, with each having its own specific requirements and deadlines. Our team at D'VA Diminished Value Associates is well-versed in state-specific laws and can provide the appropriate guidance needed. We encourage potential clients to contact us directly for state-specific information and to discuss their case.
Contact D'VA Diminished Value Associates
If dealing with a total loss, don't accept an insufficient settlement from the insurance company. Contact D'VA Diminished Value Associates today for a free consultation. Our team of experts will work tirelessly to ensure that fair compensation is received.
To initiate a total loss appraisal or to learn more about our services, please contact D'VA Diminished Value Associates. Our team is ready to help fight for fair compensation!