Accident + Repair = Loss In Vehicle Market Value
The Good News - You May Be Entitled To Recoup It!
Once your vehicle has an insurance claim registered against it, buyers will perceive it to be worth a lot less compared to a claims-free vehicle, even if repaired properly. This loss in market value is known as Inherent Diminished Value or Accelerated Depreciation.
Except for a few US states, YOUR insurance policy does not typically cover Diminished Value.
However, every vehicle driven in North America is required to have liability insurance coverage, which in part covers losses suffered by someone else to their property (including their cars) as a result of the vehicle owner's fault. When this property is a vehicle, such losses include items not covered by auto insurance. Diminished Value is such a loss.
In plain English, if an accident is someone else's fault, you have now suffered a loss in vehicle value through no fault of your own. Their liability coverage is responsible for covering your loss.
For only $45 (includes free demand letter and phone support), our Diminished Value Calculator generates an instant Professional Opinion Report of inherent diminished value which, together with our FREE Step By Step Guide, can help you understand how to reclaim your loss according to the rules of your jurisdiction.