It is the mission of Collision Consulting to help to expose the truth in all matters involving automobile collision damage.
Our decisions are based upon fact, without regard to special circumstances such as “sentimental value” or referral sources, or any entity with an interest in the outcome.
It is our duty to determine the facts and render our professional opinion based thereon.
Our sole position is:
IT IS WHAT IT IS
Collision Consulting is the ONLY national company offering post repair inspections and diminished value assessments – we are the only company offering diminished value assessments that has multiple offices across the country.
All other diminished value assessing companies are single location companies and many of these diminished value companies are “one-man, fly-by-night” operations.
A web-based diminished value assessment is not worth the paper it’s printed on (how do you bring an internet program in to support your claim?)
What is diminished value?
Diminution of Value, more commonly known as diminished value or DV, can be defined as the loss of financial worth of a vehicle due to damage. There are basically two types of diminished value – inherent diminished value & repair related diminished value, and the extent of each determines the overall amount of diminished value.
Imagine two vehicles parked side by side – both are the same year, make and model, both with the same options, both with the same mileage, they’re even the same color. The only difference is that one recently had $8,000 worth of collision repairs. If the price were the same, the only difference being the accident history, which one would you buy ? (Exactly!!! – that’s the concept of diminished value)
The difference in the amount you’d be willing to pay between the two vehicles – the amount the price of the previously damaged vehicle would have to be reduced – is the diminished value.
In a third party claim, where the other person was at fault, the diminished value is almost always a recognized (and collectable) element of the loss. Some insurance companies tell claimants (the victim of the accident) that diminished value isn’t recognized in that particular state – what they don’t say is that they’re talking about FIRST-PARTY claims (where you were at fault).
First-party claims (where the vehicle owner’s insurance is paying) are governed by the contract of insurance, which in many cases excludes diminished value, although if the insurance company caused the diminution of value through their refusal to pay for proper repairs or the use of aftermarket parts, it may be possible to hold them accountable for the amount of the diminished value attributable to their refusal.
Third-party claims (where the other person’s insurance is paying) are governed by tort law, which basically says that the injured party (victim) is to be restored to the position they held prior to the loss caused by the negligent party. If the vehicle is not worth what it was before the loss, the victim can claim for the diminished value. A diminished value settlement is the ONLY way to make the injured party whole because the repair process can not undo the fact that the vehicle has been in an accident. It is the accident HISTORY that causes inherent diminished value.
If the vehicle owner was not at fault, it is possible to have the repairs addressed by the vehicle owner’s insurance company – (in some cases this may be preferable) – and still file with the other person’s insurance company for the diminished value.
Protect your Rights! Protect Your Investment! Call Collision Consulting Today!
1234 Divi St. #1000
San Francisco, CA 94220