AUTOMOBILE VALUES EXPLAINED
Why can the same vehicle be worth $35,000, $30,000, $20,000, or even less depending on how it is sold? Understanding the differences between Fair Market Value (FMV), Trade-In Value, Actual Cash Value (ACV), Auction Value, and Salvage Value is critical when buying, selling, trading, appraising, or settling an insurance claim. One of the most common […]
A Range Rover Diminished Value Claim in Louisville, Kentucky
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Range Rover Sport Autobiography AWD SUV with 32,000 Miles that was involved in a rear-end collision that caused $1,800.00 in damage. The car was not disabled & towed and did not have […]
TOTAL LOSSES AND THE APPRAISAL CLAUSE
Disputes over the values of automobiles and trucks involved in total loss claims are common. There are three points of view to consider – the car owner’s opinion, the insurance company’s opinion and the findings of an umpire who is hired when an impasse occurs. Resolution of total loss disputes by invoking what is known […]