DIMINISHED VALUE FREQUENTLY ASKED QUESTIONS
If you were in a not‑at‑fault accident, your vehicle likely lost market value even after proper repairs. This loss in resale value is known as Diminished Value (DV). Collision Safety Consultants of West Florida helps recover this loss by filing and negotiating your DV claim with the at‑fault insurer.
-Who can file a DV claim?
A DV claim may be filed if you were not at-fault in an accident and the other person’s insurance company paid for the damage to your vehicle. You cannot file a DV claim if your vehicle is currently leased.
-Are there any exceptions?
An exception applies if the other party accepted fault, but you used your own insurer for repairs. In this case, your insurer will subrogate against the at-fault insurance company after repairs. Once subrogation is complete, you may then file your Diminished Value claim against the at-fault company.
-Can I file a DV claim against my own insurance company?
You cannot file a DV claim against your own insurance company if you were at fault for the accident.
-When can I begin the claim process?
We can only begin the process once your vehicle has been fully repaired and returned to you.
-How long do I have to file a claim?
In Florida, the statute of limitations for a Diminished Value claim is four years from the date of the accident.
-How much is the fee?
We charge a flat fee of $600 to generate the appraisal report and negotiate with the insurance company on your behalf. For vehicles valued over $100,000, the flat fee is $1,200.
-How is payment made?
A 50% non-refundable deposit is due up front ($300 or $600 depending on vehicle value). The balance is due once you agree to our settlement amount with the at-fault insurance company. Credit cards are accepted for payment.
-What happens after I make the deposit payment?
Once the deposit is received, we send you three forms to fill out and return. We also need a copy of the final repair bill from the body shop, a few photos of the damaged vehicle, and one photo of the vehicle after repairs.
-What happens next?
Once we submit your report, we allow about 30–45 days for the insurer to respond. If the claim is denied, delayed, or met with a low offer, we may suggest filing suit against the at-fault insurer. Rest assured, we work with a law firm that specializes in Diminished Value lawsuits. We don’t play games with insurance companies’ delay or deny tactics!
-Why would my claim be denied?
If your vehicle has prior CarFax damage history, the insurance company may deny your claim, stating the value was already diminished. Your claim may also be denied if the at-fault driver’s policy limit has been reached for repair costs. In these cases, it may be difficult to obtain a settlement. Some insurers may deny claims for no valid reason—when that happens, we refer your case to our attorney.
-Can you guarantee a settlement?
Every claim and insurer is different. No one can guarantee a settlement amount, and any company that does is being dishonest. There are many variables involved but rest assured—we always fight to get you the maximum recovery possible!
We look forward to helping you file your Diminished Value claim. If you have any further questions, please call or email us. Thank you.