DIMINISHED VALUE

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Diminished Value Claims

Have you been in a car accident in the last 3 years? If so, you may be entitled to financial compensation as a result of the loss in resale value caused by that accident. It’s called “Diminished Value” and your insurance company doesn’t want you to know about it!

In fact, they may even make misleading statements that lead you to believe you don’t qualify, just to increase their profits.

What Is Diminished Value?

Diminished Value is the part of a wrecked vehicle’s pre-Loss resale value that has not been restored by the repair process. Any vehicle that has been in an accident immediately suffers an inherent reduction in value, even when repairs are performed correctly. This is because the courts recognize that any vehicle with an accident history will sell for less than it would have without any history of damage. Most consumers don’t want to buy a car that’s been in an accident, and if they do, they expect to get it for a much lower price.

Diminished Value Claim

For reasons that must be obvious to the educated consumer, many insurance companies attempt to steer their policyholders away from collecting diminished value. In the same way that they attempt to increase their profits by steering customers to their preferred body shops, they also using misleading arguments to persuade customers that they don’t qualify for diminished value.

Commonly, an insurance company will offer a very low settlement number in the hopes that the consumer will accept without question, and without hiring a professional to help them interpret their offer. Many insurance companies have embraced a flawed formula meant to reduce the amount of money they pay out in Diminished Value claims. Don’t just take the insurance company’s word for it.

In addition to the Inherent Diminished Value suffered because of the loss in resale value as a result of the vehicle now having an accident history, your car may also have suffered “Repair-Related Diminished Value”. Maybe your car was repaired at an insurance company’s “preferred” shop, and they cut corners during the repair.

K & M Collision performs in-depth post-repair inspections to find any safety or quality issues with past repairs. This is a very important service after an accident, not only because it provides a complete picture of the Diminished Value your vehicle has suffered, but also because it’s a way to ensure that your car is still safe to drive.

Post-Repair Inspectioni Services

OUR MISSION

At K&M Collision we believe in pursuing the highest level of our craft without compromise. That means we never cut corners, always follow manufacturer procedures, and dedicate ourselves to complete transparency with our customers. We always put the customer first, placing their safety and economic well-being above all else. We stand in direct opposition to anything that might compromise those principles, or put our customers at risk.

We also offer 3rd party post-repair inspections and pre-purchase inspections. If you have gotten your vehicle fixed at another shop and have noticed possible problems with safety or performance, we’re here to help. No one should be on the road in a vehicle with compromised safety, performance, or structural integrity.

Acura body shop Hickory NC

K&M Collision has been at the leading edge of factory-correct collision repair since 1991.

Our technicians are trained directly by the manufacturer to uphold the rigorous standards of excellence that you associate with brands like Porsche, Audi, and Mercedes-Benz, Bentley, and many more.

As an auto body shop certified by major vehicle manufacturers, including Porsche, Audi, Jaguar, Land Rover, Bentley, Nissan, Infiniti, Ford, Chevrolet, Chrysler, GM, Kia, Volvo, Volkswagen and more for collision repair, we are committed to providing factory-correct auto body repairs that restore your vehicle to pre-accident safety and performance.

From Our Customers…

We picked up our car today from K&M Collision, and both my husband and I are very impressed with the quantity of the repair and with the customer service. We will definitely be back if any repairs are ever needed again on our car. We highly recommend K&M Collision!
J&T Adam
K& M is AWESOME! Kyle the service manager and Tina were both so informative and was willing to answer any of my questions. The line of communication that both of them had was amazing. They had my safety in mind most of all.
Ashley Jones
K&M was a breath of fresh air after getting into an accident that wasn’t my fault. Knowledgeable staff reassured me that if my car was repairable they would be able to get it back to factory specs. Kyle really felt like an advocate for me throughout the process.
Joel Pegram

If you live in the Hickory or Charlotte area and have a vehicle that was involved in an accident, contact K & M Collision at (828) 569-1275 or click below to contact us online!

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