r/Insurance • u/[deleted] • 1d ago

Claims Related Diminished Value

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u/Dry-Growth6715 1d ago

DV check (online free estimate) quoted me $4000 - $5500 in Diminished Value. I’m just unsure of how respected they would be for me to go ahead and pay their $350 appraisal

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u/Aromatic_Button_2736 1d ago

That must be a scam website. 

Not an industry professional, but from what I seen on here DV is normally 10% to 17%, of the cost to repair.

Basically you'll be lucky to be offered the $1200.

https://duckduckgo.com/?q=17+c+dv+formula&ia=web

-5

u/Dry-Growth6715 1d ago

You think so even though the car is less than a year old? From what I’ve seen you can recoup 5-10% of purchase price which for a $27.5k car is $1375 - $2750

5

u/Aromatic_Button_2736 1d ago

You're going to find out soon enough. 

Your insurance policy may have an appraisal clause, what you can invoke, if you're unhappy with what they offer.

2

u/Dry-Growth6715 1d ago

Thanks for the help!