Total Loss and the CCC Report
First off, I just want to say that we get a lot of calls from irate folks who think we are CCC because this article pops up high in searches for CCC. We have lots of funny interactions with accident victims where the conversation starts out with a full-on blow out argument! lol
Let’s be clear – we are not CCC! We are appraisers who help consumers when they get a low valuation from companies like CCC (there are others as well). Just wanted to get that out there to set the record straight since so many folks are finding this article useful (and to prevent screaming matches and the therapy sessions that then have to follow :)).
If your vehicle has been deemed a total loss, many insurance companies will rely on a company called CCC (that is not US lol) to provide a market evaluation on the value of your vehicle to act as a settlement tool. CCC (Certified Collateral Corporation) Information Services Inc. is a company that provides vehicle value reports to insurance companies. They utilize their own methods and develop a value for your vehicle that is supposed to be reflective of the actual cost of a replacement vehicle in the market where your vehicle would have been sold, had it not been totaled.
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For Arizona diminished value claims, there is case law that is exactly on point. It is a case styled “Paul Oliver v. James Henry”. A Google search will surely land you with a copy of the case, or you can request a copy directly from my office and we’ll send you the full case for free. That case law says that a vehicle owner can hire an expert appraiser to document the lost market value due to damages, and that an expert appraisal or testimony is sufficient evidence. This means that if you want to recover your Arizona diminished value claims, then the quality of your expert is really the thing that matters most.
