Diminution in value report ~

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.