Diminished Vehicle Value Claim

Home » Practice Areas » Diminished Vehicle Value Claim

 Diminished Vehicle Value Claims

Car accidents where the other driver is at fault present a problem many insurance companies would prefer you aren’t aware of. The other driver’s insurance may pay for damages, but now your car is always going to have an accident in its history. Naturally, this will diminish the short and long term value of your vehicle through no fault of your own.  A car is like any other investment and when you trade or resell it, the fact that it was at one time repaired after an accident is going to mean diminished value for you.

A car accident is a serious matter even if you are lucky enough that you are not injured. If a car accident is not your fault, and you were forced due to the vehicle value to have it repaired, you have incurred significant losses by way of the diminished vehicle value claim. In fact, even minor accidents significantly lower a vehicle’s value due to laws requiring disclosure of accidents, as well as the popularity of services like a Carfax.

How Minor Accidents Can Diminish Your Car’s Value

Think about it. If you go to trade or sell your car after it has been repaired, your vehicle will have a significant accident history for which you will be penalized at the time of sale or trade-in with respect to the vehicle’s reduced value. You will have significant losses in your vehicle’s value no matter how good the repairs.

This is where we come in because we can recover the amount of your vehicle’s diminished value immediately after your car is repaired. That way, you are not only getting your vehicle repaired, but you were also “repairing” the vehicle’s value.

We invite you to call us now to assess your vehicle’s diminished value and a potential claim on your behalf.