Diminished Value Claims – Diminished Car/Auto Value

DV Claims, Inc. is a purchaser of hard to collect claims, choses in action, causes of action, judgments, receivables and other remedies.

We specialize in diminished value claims but also purchase other types of claims such as the following:

• Claims in Bankruptcy
• Bad Faith Claims against Insurance Companies
• Judgments
• Receivables

There are three types of diminished value claims:

• Insurance related diminished value
• Repair related diminished value and
• Inherent diminished value. We currently only focus inherent diminished value claims at this time.

Inherent diminished value, also known as diminution in value, is the inherent loss of value of property because of the stigma associated with it having been damaged. This resonates with most people because given a choice between two vehicles that are exactly the same in all respects except that one has been in an accident, most people would prefer to have and therefore pay more for, the vehicle that has not been in an accident.

Many different types of property may suffer from diminished value including motorcycles, automobiles, boats, motor homes, semi trucks or tractor trailers, buses, heavy equipment, farm equipment, homes and commercial and industrial buildings.

Why do we purchase diminished value claims?

Diminished value is something that not only makes sense to people, but it is absolutely recognized in law as a recoverable claim. The problem is that despite common sense and basis in law for recovery, most insurance simply refuse to pay diminished value or offer very low settlement amounts.

Part of the reason may be the fact insurance companies scored a major legal victory when they convinced courts throughout the nation that first party claims (a party recovering from its own insurance company) for diminished value are not recoverable. In making these rulings, courts have held that the right to recover diminished value on a first party basis would have to be on a contract basis, and that if insured and insurer contractually agree that the policy excludes recovery for diminished value, recovery is not possible.

The Courts have allowed for recovery of diminished value under a tort theory of negligence in third party cases where an at-fault party causes damage to a third party’s vehicle that causes it to lose value. Because most diminished value claims are too small to justify an attorney taking on representation, however, insurance companies know that they can deny the majority of these claims with impunity; that’s why we purchase these types of claims from vehicle owners all over the nation. After we purchase the claim, we use a full panorama of resources at our disposal to procure larger settlement amounts or trial awards. Because of our success in recovery, we can afford to pay you more for your claim.

DV Claims, Inc. purchases diminished value claims throughout the country. In addition to negotiation and settlement, we do litigate a significant number of claims if they meet our litigation eligibility requirements.

Selling your diminished value claim to DV Claims, Inc. allows you to monetize a diminished value claim that you may have a difficult time collecting. You can sell your diminished value claim to DV Claims, Inc. for an upfront fee, or else we can purchase your claim but allow you to share in the future recovery.