Diminished Value Inspection Claims
Go Auto Body & Automotive Repair in Salt Lake City is an auto body shop that profoundly believes in serving our clients’ best interests. Our collision repair experience has made us experts in Diminished Value, and our goal is to educate our clients on this topic.
Who IS eligible for Diminished Value?
• Personal vehicle and equipment owners (newer vehicles will have more success)
• Homeowners (when construction methods were not the same as it was prior)
• In Utah (and many other states), you may be entitled to nearly the repair cost for your Diminished Value.
Who is not eligible for Diminished Value?
There are two instances when you are not eligible for Diminished Value:
• If you are the At-Fault Driver (you were the one that caused the accident).
• You used your insurance to repair your vehicle or equipment.
The Main Cause of Automotive Diminished Value
You recently bought a new vehicle only to experience a collision or other damages caused by another person or company that would make your car worth less than the same vehicle that has never had any damages. This is Diminished Value.
What exactly is Diminished Value?
Inherent Diminished Value – Assuming the repairs to your vehicle or equipment were done correctly, Diminished Value would be the sudden or automatic loss in value caused by the accident and repairs. If 2 exact vehicles were on the same dealer lot for the same price, in the same visual condition, and one had prior Auto Body repairs while the other has not, nobody would purchase the damaged vehicle for the same price. This can be seen in the pricing differences between Certified used cars and regular used cars. The Certified car is more likely to sell for a higher price.
Why Would the Collision Repaired Vehicle Have a Diminished Value?
The repaired vehicle may exhibit the following:
• Ill repaired components, including structures that typically are only cosmetically repaired vs. a proper structure repair.
• Signs of the repairs are still visible or were never repaired (example of Kinetic damaged or dirt (we call it trash or debris) that is left in the paint and not correctly removed to give a high-quality painted surface.
• Improper use of parts – such as Imitation and Junk Yard parts. (Most every vehicle manufacturer recommends against using such parts, as these parts were either not crash-tested in the same manner as the Original Vehicle Manufacturer (OEM) parts, or may have been exposed to situations that may cause Junk Yard parts to not function with the same quality as New OEM parts (think Salt, Kinetic Energy from prior vehicle damages and more).
• A likelihood of future mechanical repairs and increased rust caused by poor repair techniques.
Go Auto Body & Automotive Repair in Salt Lake City can help you get the proper reimbursements by having the proper skills and experience in the Collision Industry. Insurers, at first, will typically deny or minimize the exposure to Diminished Value because they don’t want to reimburse you for your loss.
Think about it. What incentive does an insurer have to pay on a claim? There is zero incentive for them.
For Example: If your accident repairs were valued at $6000, you might be reimbursed for up to the same amount of Diminished Value.
Go Auto Body & Automotive Repair in Salt Lake City can service dealers, businesses, and the private customer/owners with a personal vehicle and/or equipment. Our rates are well worth the small cost to have the report completed. We also offer Post Repair Inspections, Visual Inspection, Total Loss ACV Report and Courtroom Appearance as an expert witness.
Utah Statute of Limitations: 3 Years
Uninsured Motorist Coverage: YES