| Q. |
|
Who would use this type of
Report? |
| A. |
|
Insurers, Solicitors, General
Public, Motor Dealers operating agreed value schemes |
| |
|
|
| Q. |
|
Why use this report and what
information would the report contain ? |
| A. |
|
If you have a vehicle which
is less than 4 years old or a classic, vintage or specialist
type vehicle which has been accident damaged and repaired,
you may not be able to sell the vehicle for the same price
as you would have if it had not been damaged. Or put another
way, imagine two identical vehicles were offered for sale
to you, one was totally original and unblemished whilst the
other had been accident damaged and repaired. Would you be
prepared to pay the same price for the repaired vehicle as
was being asked for the unblemished original vehicle ? or
would you expect the price to be reduced ? That is what a
diminution in value report does. It quantifies the value
of a vehicle based upon the vehicles history. Diminution
in value following accident damage repair became a valid
head of claim in April 1991 when the Insurance Ombudsman,
published his annual report. He reversed a previous decision
by his predecessor from 1986 and ruled that an insured who
can prove that he has a case for diminution in value following
repair work, has not been fully indemnified by his insurers.
Diminution in value is now a very common claim and can be
made by anybody who, with the help from our report can prove
their loss. |
| |
|
|
| Q. |
|
How long would it take to
have the vehicle inspected ? |
| A. |
|
We would usually inspect a
vehicle following the completion of repair work or even up
to 2 years since repair work was carried out, providing the
necessary documentation was still available. In some cases
we are able to provide an initial projected estimation as
to how much the diminution would be prior to repair. |
| |
|
|
| Q. |
|
How much does this type of
report cost ? |
| A. |
|
Please contact Mark Willis
directly on: 0151 426 6113 for further details. |
