Diminished Value or Diminution in Value is defined as that portion of a damaged vehicle’s Pre-Loss Value that cannot be restored through the repair process.
True pre-loss condition exists when a damaged vehicle has been repaired to pre-loss condition in all categories related to function, appearance, safety and warranty preservation. The condition of value or monetary restoration relates to compensation to the owner for the loss in retail value to the vehicle. (See, Inherent, Insurance and Body Shop Diminution or Diminished Value) All damaged parts were replaced with original equipment parts obtained from the original manufacturer of the vehicle. (OEM) Parts were replaced under the guidelines of Factory approved and documented procedures. No imitation parts were used in this repair. No reconditioned or re-manufactured parts were used. Materials were used in the repair that is equal to the original and approved for use by the manufacturer. The vehicle has been examined by a professional expert, who concludes every effort has been made to eliminate any flaws or defects related to the damage. The expert concludes that the paintwork has been restored to visually to match the existing factory color, texture and gloss. That impurities or flaws in the paint may exist equal to remaining original un-repainted panels or equal to that of the same make undamaged vehicle. That some form of polishing-buffing operation was performed to allow uniform appearance and texture to adjacent panels. That all repair residue has been cleaned and removed from the vehicle interior and exterior and it’s air circulation systems. The diminished value would be minimized and limited to an inherent loss in value. Typically this vehicle has sustained minor damage. Department of Transportation labels is not visible.
If the vehicle was damaged structurally; Actual after-repair testing has been completed and documented. That frame and uni-body structure(s) have been restored to:
A. Written Factory specifications and tolerances throughout the entire vehicle.
B. If the vehicle has a separate steel frame: That the vehicle’s frame has been replaced with a new OEM frame. That the attached body structure has been restored to factory specifications.
C. Factory strength and rigidity has been restored to ensure deployment of any and all Supplemental Restraint Systems, (SRS) at a level that all systems are expected to function in a subsequent accident at it’s original performance level.
D. The vehicle has been disassembled, subsequent to repair, x-rayed, electronically diagnosed, to closely examine and identify evidence of kinetic damage caused by impact to electronics, mechanical, body and structural components. Any welded seams, joints and spot-welds were inspected and special anti-corrosion coatings, internal and external have been reapplied as needed and examined.
E. That an expert has concluded that no area of the vehicle has remaining evidence that the vehicle has been damaged and or repaired. That the vehicle is indistinguishable from an undamaged vehicle of the exact same make, year and model. That the expert who inspected the vehicle can certify that repair should not affect the remaining factory warranty. That the vehicle will function, perform and wear in a manner identical to that of an undamaged vehicle of the same year, make and model.
F. Aluminium vehicles that sustain structural damage require a qualified repair shop to perform all repairs.
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