Diminished Value Claims: Get Paid Even After Car Repairs

Understanding Diminished Value Claims

• 🚗 After a car accident, even if your vehicle is fully repaired, its future value may be reduced due to the accident history.
• 💡 This reduction in value is known as 'diminished value' and can be claimed from the at-fault driver's insurance company.

Filing Your Claim

• 📝 You can file a diminished value claim in addition to the repair costs paid by the insurer.
• ⚖️ This often requires getting an appraisal of the diminished value and may involve negotiation with the insurance company.
• 💰 One individual received over $10,000 for repairs and an additional $1,200 for diminished value after their SUV was hit.

Claim Eligibility and Process

• ⏳ Generally, these claims can be filed for accidents that occurred within the last 2 years.
• 🤝 If the at-fault driver is uninsured or underinsured, you might be able to file a claim with your own insurance company.
• 🗣️ It's important to note that insurance companies are unlikely to offer this payment proactively; you typically need to insist upon it.