Diminished Value

Diminished Value is the amount by which the Resale Value of a damaged/repaired vehicle has been reduced for having sustained damage.

There are two (2) generally accepted types of Diminished Value:

Inherent Diminished Value assumes optimal repair quality and is defined as the amount by which the resale value of a vehicle has been reduced simply because it has a damage history.

Repair Related Diminished Value includes any additional amounts by which the resale value may be reduced because of less-than-optimal repairs. This could include anything from cosmetic imperfections to major structural defects.

Some states now mandate that insurance companies are responsible for paying the diminished value of a vehicle to vehicle owners who have been hit. Some I-VAN appraisers are certified to assess the diminishment of a vehicle after it has been repaired. All I-VAN appraisers are independent appraisers offering a non-biased appraised value and/or diminished value. I-VAN appraisers use a consistent proprietary methodology to determine the diminishment. Our diminished value clients include individuals, insurance companies, attorneys, and more.

*note: Not all I-VAN appraisers are certified to do diminished value appraisals. Find an appraiser in your area.