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Buyer Beware Reports on Diminished
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KOMO Buyer Beware Reports on Diminished Value
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Diminished Value and
the
Diminished Value and the
Inspection
Poor quality repairs can compromise the safety that was designed into your automobile. It may also cost you hundreds or thousands of dollars in lost value. This loss in value is called Diminished Value. Your vehicle represents a major investment, and its proper repair should be important to you. If the repairs are covered by insurance, either yours or another party's, there is no reason your vehicle should not be restored to its pre-loss, pre-accident condition. Therefore it is important that you choose a repair facility that will look out for your interests. The shop should have trained and certified technicians; proper, state-of-the-art equipment; offer a lifetime warranty; and have friendly, knowledgeable staff that can assist you in ensuring your automobile is restored as close as humanly possible to its pre-loss condition.
Who's entitled
to Diminished Value?
If your vehicle has been an accident, you may have lost money. This loss may be owed to you for up to six (6) years [in the state of Washington].
What is
Diminished Value?
There are 3 Types of Diminished Value:
1. Inherent diminished value - the automatic loss in vehicle market value from an accident. Almost every damaged vehicle will have some measure of inherent diminished value which is still an actual loss to the consumer.2. Repair related diminished value - a loss in market value due to remaining flaws and defects caused by improper repairs. Items in this category have been paid on the repair estimate, but have been repaired improperly, or perhaps overlooked completely.
3. Insurance related diminished value - a loss in vehicle market value due to insurance claims practices. This is typically caused by the insurance company failing to pay to repair a flaw or defect listed on the repair estimate.
Who Pays
Diminished Value?
Either your insurance company OR the person responsible for the accident and his/her insurance company!
You are very likely owed compensation for diminished value BY LAW even if your vehicle has been repaired CORRECTLY!
Who is Wreck
Checks Incorporated?
Wreck Checks Incorporated is a consumer-based company which provides assistance and essential information to people who have had an accident. After an accident, the consumer wants his/her damaged vehicle restored to it's "pre-accident" condition, relative to function, safety, appearance, AND VALUE. Consumers require accountability from their insurance company, and the repair facility for this restoration, WreckCheck® simply provides that accountability. Wreck Check's entire philosophy is based on consumer protection and empowerment.
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The
Wreckcheck® System Provides the
Following
1. It provides a careful review of the insurance estimate for thoroughness and accuracy. We determine whether or not ALL repairs have been paid for and completed.2. It provides an experts' assessment of the extent and quality of the repaired automobile. The vehicle is extensively examined for any deficiencies in safety, quality, function, and appearance. The automobile is also inspected for any repair fraud that may have taken place during the repair process.
3. This information is then entered into the WreckCheck® computer program, which provides a detailed analysis of the repair, along with a report on the actual loss in retail market value of the repaired vehicle.
4. The consumer is then assisted in the re-repair of the defective automobile and given guidance and information to aid in the collection of the loss in value.
The Benefits of
Wreckcheck® to the Consumer
The consumer can then submit the WreckCheck® assessment to the insurance company for payment of the loss in value to the repaired automobile, which may be owed under the provisions of the policy and by law. The WreckCheck® system also gives a detailed explanation of the repairs that still need to be completed to ensure the safe operation of your vehicle. WreckCheck® can restore peace of mind with the return of confidence in the safety and value of the repaired automobile.
Conclusion
The WreckCheck® system simply reports the facts in a clear and concise manner, which educates you empowers you, the consumer.
After an accident you want your damaged vehicle restored to its "pre-accident" condition, relative to function, appearance, safety AND VALUE. Consumers require accountability from their insurance company, and the repair facility for this restoration, Wreck Check® simply provides that accountability.
Did you know when your automobile was manufactured, it underwent over 1,600 separate inspections for flaws, defects, and safety hazards? That's why you feel safe putting your family in a new car. You trust that every part on the car will perform exactly the way it was designed.
After an automobile accident, the damaged area of your car will literally be remanufactured by your insurance company working with a local body shop. Don't you think your car should be inspected at least one more time to restore that peace of mind you once had?
Wreck Check inspections have revealed that over 70% of collision repaired cars have a serious flaw or defect that was overlooked by both the insurance company or the body shop. That's a 70% chance that something may not work the way it was designed.
The WreckCheck® system offers consumer protection, along with the guidance required to achieve a correct and proper repair. Once consumers are empowered with the information provided through the WreckCheck® process, they are prepared to collect the compensation for loss in vehicle value that they are entitled to under their insurance policies.
Remember at Stroud's Auto Rebuild, we are your consumer protection headquarters and we want your car to be safe.
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