FAQs
If you’ve never filed a diminished value claim, you probably have questions. Below you’ll find answers to the most common concerns about diminished value reports, insurance claim processes, and how our appraisals help you recover lost vehicle value after an accident.
What is a diminished value report?
A diminished value report calculates how much your vehicle has lost in market value after being involved in an accident, even after it's repaired. It's often used to support insurance claims or legal actions.
Do you use the 17c formula to calculate diminished value?
No, we do not use the 17c formula. The 17c formula was created by insurance companies and is widely criticized for producing artificially low diminished value figures that often don’t reflect real-world market losses. At Premier, we base our evaluations on actual market research, comparable sales, and industry-standard appraisal methods to ensure the most accurate and supportable valuation possible.
What vehicles qualify for diminished value?
Most vehicles that have been in an accident and received repairs may qualify, especially newer cars, luxury models, and vehicles with frame or structural damage.
Can I file a diminished value claim if my vehicle has a prior accident on record?
Vehicles with prior accidents are typically not eligible for a diminished value claim. Insurance companies often deny claims if the vehicle already had accident history before the most recent loss. It is the vehicle owner’s responsibility to verify whether their vehicle has any previous accidents, including those reported on Carfax, AutoCheck, or other vehicle history reports. If you’re unsure, we recommend reviewing these reports and contacting the Insurance Company before proceeding with a claim.
Why do I need a report?
Insurance companies rarely offer compensation for diminished value unless you request it and provide proof. Our reports give you the documentation you need to support your claim.
How much does it cost?
We work on a contingency basis. That means you don’t pay anything up front. We only collect a 15% fee if you successfully recover money using our report. If you don’t get paid, neither do we.
How long does it take to receive the report?
Most reports are delivered within 2–3 business days after we receive all necessary information and documentation.
Do you negotiate with the insurance company on my behalf?
No. We do not negotiate or handle the claim directly. Our role is to equip you with a powerful report that supports your demand. You, or your representative (such as an attorney), will present the report to the insurance company.
Do you contact the insurance company?
Yes, but only with your permission. As part of our process, you’ll sign a limited Power of Attorney, which authorizes us to discuss your diminished value claim with the at-fault insurance company for the purpose of submitting your report and responding to related inquiries.
We do not negotiate settlement amounts or act as legal representatives.
What if my insurance company doesn’t accept the report?
While we can’t guarantee acceptance, our reports are prepared by appraisers using industry-leading methods. They’ve been used successfully in thousands of claims. If you need help interpreting the report, we’re happy to assist.
How long do I have to pay once I receive my settlement?
After the insurance company issues your diminished value payment, we’ll confirm the settlement amount directly with them using the limited Power of Attorney.
Once verified, we’ll send you an invoice for our 15% contingency fee, which is due within 5 business days of receipt.
Is my information safe?
Yes. We take your privacy seriously and never sell or share your personal information.
How do I get started?
Just fill out our inquiry form with some basic details about your accident and vehicle. We’ll take it from there.