In this conversation, Jen and Justin delve into the complexities of diminished value claims, focusing on the 17C formula that emerged from a landmark class-action lawsuit in Georgia. They explore the origins of the formula, its application in real-world scenarios, and the challenges faced by claimants when dealing with insurance companies. Through case studies, they illustrate the discrepancies between the 17C formula and actual market values, emphasizing the importance of proper appraisal methods and market analysis in determining diminished value. The discussion concludes with practical insights and advice for individuals navigating diminished value claims.

In this conversation, Jen and Justin from Petty Details discuss the complexities of diminished value claims in auto insurance. They explore common denials made by insurance companies, the legal implications of these denials, and the importance of understanding the appraisal process. The discussion emphasizes the need for clear communication and logical reasoning when dealing with insurance claims, as well as the necessity of having expert appraisals to support claims for diminished value.

Link to this article: https://diminishedvalueexpert.com/diminishedvalue/dvhottopics/invalid-diminished-value-claim-denial/

Chapters

00:00 Introduction to Diminished Value Claims
10:13 The Role of Expert Opinions in Diminished Value Claims
17:59 Repair Status and Its Impact on Diminished Value
23:28 Understanding Diminished Value Claims
29:23 The Impact of Multiple Losses
35:07 The Role of Carfax in Valuation

In this episode of "Petty Details," Justin and Gerald dive into the intricate process and significant implications of retaining salvage value. Gerald shares his personal experience with a total loss claim on his Ford Edge, highlighting the challenges faced with insurance companies and the importance of persistence. The discussion uncovers the nuances of salvage retention, appraisal clauses, and the often-overlooked rights of vehicle owners. Tune in to learn how to navigate these complex situations and ensure you're not left at a disadvantage. #SalvageValue #InsuranceClaims #PersistencePaysOff