Our appraisal is the most effective way to increase you insurance claim payout.
Atlanta, GA (PRWEB) May 31, 2013
Loss in value, otherwise known as Diminished Value, is the reduction in resale value a vehicle suffers after being repaired from an accident or collision. Auto buyers will not pay the same amount for a wrecked and repaired vehicle as they would for an undamaged counterpart.
According to Diminished Value of Georgia, for many years, insurance carriers have been underpaying diminished value claims by compensating claimants using an erroneous and inaccurate formula called 17c. This percentage based formula yields values much lower than the actual loss amounts, saving the carrier millions of dollars at the expense of accident victims.
Check out the 17c Diminished Value Calculator.
The 17c formula, named after paragraph 17 of the Mabry v State Farm court case (Georgia Supreme Court FILE NO. SU 99 CV 4915, 12/01/00), caps the loss in value at 10% of the vehicle's book value. "Not only is 10% arbitrary and too low, it could not logically apply to all makes and models," says Antoine Rached, owner of Diminished Value of Georgia. "It is irrational to maintain that a Ferrari will lose the same percentage as a Kia for a given accident. The formula doesn't stop here, after the initial 10%, the formula deducts for random damage modifiers and unreasonable mileage restrictions."
To help claimants achieve fair settlement amounts, Diminished Value of Georgia provides accurate vehicle valuation reports that properly quantify the loss in value an automobile suffers after an accident.
The appraisal reports are then submitted to insurance carriers who, by law, are required to admit them as evidence in the claim.
So far in 2013, Diminished Value of Georgia has helped consumers achieve about 5 million dollars in insurance settlement increases.
“Most of our appraisal amounts are between 2 and 3 thousand dollars,” says Antoine Rached, the company owner, “compared to the 2 to 3 hundred dollars offered by the insurance company.”
Mr. Rached continues by saying, “Our appraisals are, by far, the most effective way to increase an insurance payout.”
Diminished Value of Georgia is a licensed auto appraisal company, BBB accredited and is highly rated by consumers. Before ordering an appraisal, customers are encouraged to request a free quote.
For more information of Diminished Value of Georgia, contact Antoine Rached by calling 678-404-0455 or by visiting the Diminished Value of Georgia contact us page.