Success Stories

  • Dear Monica and Terry,

    What an AWESOME job Autoloss accomplished for me. I can’t Thank you enough. After reading the many reviews regarding Diminished Value. I was extremely hesitant to file with my insurance company. Our fully loaded 2014 Dodge Ram Longhorn Laramie Premium Edition was only 1 week old when an uninsured motorist rear ended me. Although the damage was “minor”(Under $1500 in repairs) in the eyes of the insurance company, I knew we just took a huge hit on the value of our vehicle. Before submitting my Diminished Value claim to the insurance company, I contacted Autoloss. Within 24 hours the report was complete and ready for our review, approved and sent to the insurance company. The same morning, I received a call from State Farm looking to settle the claim. Your estimate of $4505.00 for diminished value was great. The insurance company didn’t want to settle over $2600.00, but I wasn’t going to let them take all my value for their benefit. However, to settle the claim quickly without anymore running around, we decided to settle our claim for $3250.00! Even though I know we probably could have pushed for the full amount, in acting in good faith and not wanting to delay, we settled.

    I just wanted to say, without the Autoloss appraisal for diminished value...they would have tried to settle for pennies on the dollar. Knowing that we came prepared with a legitimate appraisal from Autoloss, they were quick to settle and sent the diminished value check the same day.

    I really appreciate all your efforts and negotiation skills you all possess! Great Job! I highly recommend Autoloss to anyone that has been in an accident.

    Susan G.
    Nashville, Tennessee

    Read more...
vehicle supply and demandOne of the basic reasons for the diminishing value of a vehicle after an accident is simple supply and demand. Results from a survey we conducted in 2009 of more than 4,700 respondents found that 60 percent of them would not even buy a vehicle that had frame damage. Even with a vehicle that did not sustain frame damage and had been correctly repaired, about 20 percent of respondents would expect a 40 percent reduction in the price.

When you have such a significant number of consumers completely out of the buying mix, demand is so low that you can’t help but see a major drop in value. In the auto buying world, perception is as good as reality. If people think your vehicle is worth 40 to 60 percent less than you are asking, it’s nearly impossible to fight that battle. What Can You Do About It? First, don’t think you are helpless! The insurance company will not go out of their way to offer you what you deserve. In fact, they will likely present you with an estimate based on an extremely conservative formula that clearly favors their interest. If you are unaware of your rights, this presentation may very well come across as reasonable and convincing. You don’t have to simply settle for their offer. When you provide the insurance company with a professionally prepared Diminished Value report from Auto Loss, they will know you mean business and have the backing of the clear and detailed data that we provide in our reports. No one plans for an auto accident. So, if someone you know is unaware of their right to a Diminished Value claim, don’t wait for an accident to happen. Spread the word, so they will know if and when the time comes. Knowledge is power!

Terry M. Fisher, Owner, Autoloss.com
Terry M. Fisher
Autoloss.com Founder

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