What is a Diminished Value Claim?
Diminished value is the difference between the value of your car immediately before a car accident and the value of your car immediately after a car accident. It is also sometimes referred to as diminution of value.
When you hear about diminished value claims after a car accident, the claim is for the inherent loss of value your car suffers as a result of it being in an accident. This is important to understand and what it means is that it does not matter if your car was fixed perfectly, it still has inherent loss of value simply because it was in an accident.
If your car has been involved in a car accident and has been repaired, you are owed diminished value by the person that caused the accident.