One-Stop-Shop for your evaluation needs
Since 1999, we have been assisting vehicle owners and insurance companies in resolving all of their appraisal needs. Our team of experts specialize in standard Auto, Motorcycles, Trucks, Trailers, RVs, Buses, Boats, Classic and Exotics.
If it has value, Modern Appraisers should be your first choice.
Diminished Value
A diminished value appraisal evaluates the difference in the value of a motor vehicle after a collision repair. An Auto appraisal expert usually compiles reports experienced in the DV field and may provide expert testimony for Appraisals. This assessment report is used when filing or disputing a diminished value claim against another party and/or an insurance company. The report measures a damaged vehicle’s inherent loss in value. In most cases, even if the repair was done correctly, the automobile’s value will still be considerably less after a loss. Therefore, when consumers find that a vehicle has been in an accident, most consumers will never pay the same price for a repaired vehicle compared to one with no loss history.
Actual Cash Value
In property and auto physical damage insurance, one of several possible methods of establishing the value of insured property to determine the amount the insurer will pay in the event of a loss. ACV is typically calculated by one of three ways:
- The cost to repair or replace the damaged property, minus depreciation
- The damaged property’s “fair market value.”
- Using the “broad evidence rule,” which calls for considering all relevant evidence of the value of the damaged property.