There are no upfront charges or costs to use Loss Value Recovery Specialists and the only fee that is charged is 25% of any settlement that is awarded from the insurance company for your diminished value, plus any additional expenses that we incur. Expenses are capped at $200 and are limited to the cost of the appraisal, should one be necessary. We make every effort to get the insurance company to pay the cost of the appraisal, in which case you are not responsible for the appraisal cost. Should we order an appraisal and fail to make a recovery on your case, you owe us nothing.
While it is possible for accident victims to file their own diminished value claims, this process is not recommended for a few reasons. Some insurance companies are known for delay tactics in which they simply ignore the request of the accident victim in hopes that they will just give up and not pursue their claim. Other companies look to confuse the victim by using “insurance jargon” and putting you through lengthy processes that are arbitrary. Additionally, if the victim is actually able to speak with someone and communicate their needs they are then stuck with trying to negotiate with a seasoned adjuster who is used to “low-balling” consumers with offers. For these reasons it is not recommended that accident victims file their own diminished value claims, but rather seek the help of Loss Value Recovery Specialists who have years of experience in the auto accident industry and can call upon a number of experts in the field to assist with your claim.
No. Seeking reimbursement for diminished value will have no impact on a consumer’s own policy or rates.
Although each company is different, the average length of a D/V claim is usually 30-45 days. Each insurance company handles claims differently, and variables include the efficiency of the adjuster/company, the standard of the insurance company, and the effectiveness of communication.
An attorney is not needed and any consumer can file a D/V claim on their own.