Auto Appraisers Insure Car Owners Get What's Due

Car owners may be due more than they're getting from insurance companies following an accident.

While insurance agencies pay for damage to a vehicle, many car owners don't know to ask for additional funds due to diminished value.

Riverview couple Steve and Colette Vann have started a business based on getting car owners the additional money they're due because of diminished value.

The Vanns are independent certified auto appraisers with Tampa Auto Appraisers, a business they founded last September. 

An attorney by professional, Steve Vann now appraises cars that have been in accidents and determines the loss of value to the car based on the accident. Colette, a former public relations professional, does all the scheduling and marketing for the company.

"If a person hits you, the insurance company will pay for repairs," explained Steve Vann. "However, it's going to be harder to resell your car because it's been in an accident. So we help the accident victim come up with the diminished value as a result of the accident."

Many people don't realize that, in addition to repairs, insurance companies by law must pay for the loss of value to the car if requested.

"But most people don't know to ask for diminished value," said Steve Vann. "You actually have four years to file for diminished value. How much you get depends on the type of car and the amount of damage."

As a certified auto appraiser, it's Vann's job to objectively determine how much the car owner is owed in diminished value. 

As a result of his appraisals, car owners can recoup 10 to 15 percent of the fair market value of the car prior to the accident.

"Our fee is guaranteed and, if we take your case and don't get you at least $400, we'll reimburse you," said Vann. 

Vann said it's rare that an insurance company will pay diminished value without a certified appraisal. 

"I've seen reports where insurance companies have saved billions of dollars in diminished value because they don't tell people that it's an option," said Vann.

"But once you submit a claim, the insurance company has to pay it," he said. 

Unfortunately, many people don't find out about diminished value until they go to sell their car and discover it's worth less because it's been in an accident, even if the damage has been repaired. 

"Even a damaged bumper can diminish the value of a car," said Vann. 

When a car owner contacts the Vanns and tells them the details of the accident, Steve Vann said he's able to assess if the owner has a diminished value claim.

"Sometimes it's not worth it to make a claim," he said. 

"We're a family company and we like the one-on-one interaction with people," said Colette Vann. "But we want people to be better off than before they interacted with us."

The couple, who have been married five years, met while Steve Vann was working as a public defender in Colorado. When the Iraqi war began, Vann gave up his career to enlist in the Army where, as a signal captain, his unit was the first to cross the Iraqi border in March 2003. 

"I'd always wanted to be an officer and fight for my country but I was too young for Desert Storm so, when the war began, I decided to sign on," he said. "At the age of 31, I was one of the oldest in my unit."

He returned to Fort Stewart, Ga., in 2004 with a Bronze Star and then relocated to Tampa Bay where he grew up. Vann is a Gaither High School and University of South Florida graduate.

He and Colette had kept in touch and she'd moved to Fort Stewart to await the end of his tour of duty. 

"When we moved down here, I was unemployed for almost a year," said Vann. Then he worked for Cardinal Health medical distributors for six years before the economy took its toll on the company and Vann was left jobless.

"I didn't want to go on unemployment," he said. 

His cousin, Danny Hudson, had started U.S. Auto Appraisers focusing on diminished value, and Vann was intrigued with the idea.

"It incorporates a lot of legal thinking, something I was familiar with," he said. 

So he became certified and began doing appraisals for U.S. Auto Appraisers before launching his own company.

The Vanns now do about 12 appraisals a week.

"It doesn't have to be an expensive car," said Vann. "We appraise Volkswagens, Honda Civics, you name it."

In a recent case, Vann was asked to appraise a Volkswagen Passat that had $4,000 worth of damage from an accident. However, the car only had 36,000 miles on it so they were able to help the customer get 27 percent more than the insurance company originally offered.

Tampa Auto Appraisers is a member of the American Association of Certified Auto Appraisers. The company is also a member of the Greater Brandon Chamber of Commerce where Colette is an active ambassador. She also volunteers with the Brandon Outreach Clinic and the Greater Brandon Community Foundation.

For information on Tampa Auto Appraisers, call (813) 380-6583, e-mail colette@tampaautoappraisers.com or visit their Facebook page.