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Letter to the Editor
This article originally appeared in the March 2006 Issue of INSIGHT
TrendLine:
Diminished Value
| 2006 | 2005 | 2004 | 2003 | 2002 | 1997 | |
| Do you believe that diminished value is more often the result of the accident or of an improper repair? | ||||||
| Accident | 39% | 35% | 38% | 62% | 38% | 36% |
| Improper repair | 61% | 65% | 62% | 38% | 62% | 64% |
| Does the use of aftermarket sheet metal crash parts diminish the value of the repaired vehicle? | ||||||
| Yes, in all cases | 45% | 41% | 43% | 46% | 42% | 48% |
| In some cases | 53% | 53% | 53% | 53% | 56% | 51% | No | 21% | 61% | 4% | 1% | 2% | 1% |
| Does the use of aftermarket plastic bumper covers or fascias diminish the value of the repaired vehicle? | ||||||
| Yes, in all cases | 33% | 35% | 40% | 35% | 32% | 29% |
| In some cases | 60% | 56% | 55% | 60% | 64% | 64% | No | 7% | 9% | 5% | 5% | 4% | 7% |
| Do you believe that the common procedures agreed to by your facility and insurers with whom you do business restore the vehicle to pre-accident condition, negating any claim for diminished value? | ||||||
| Yes, in all cases | 22% | 30% | 15% | 16% | 23% | 20% |
| In some cases | 73% | 55% | 61% | 59% | 54% | 58% | No | 5% | 15% | 24% | 25% | 23% | 22% |
| Percentage of respondents whose business has been subjected to a diminished value claim for repairs performed at their facility | ||||||
| 19% | 11% | 12% | 22% | 20% | 11% | Percentage of respondents whose present business business insurance covers their facility against diminished value claims |
| 29% | 28% | 31% | 32% | 28% | 25% |
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