An injury claim gets the most attention, but the damage to your vehicle matters too. Beyond repairs, a wrecked car often loses market value even after it is fixed — a loss known as diminished value.
Repairs and Total Loss
If your vehicle can be repaired, the at-fault insurer should pay for proper repairs. If the cost to repair exceeds the car's value, it is declared a total loss and you are owed its fair market value before the crash. Disputes often arise over that value.
Understanding Diminished Value
- A repaired vehicle with an accident history sells for less.
- Diminished value is the gap between pre-crash and post-repair value.
- It can sometimes be claimed against the at-fault driver's insurer.
- Documentation and appraisals support the claim.
Keep all repair estimates and consider an independent appraisal to support a diminished value claim.
Don't Overlook This Loss
Property damage and diminished value are real losses that insurers may downplay. An attorney handling your injury claim can address these too. A free consultation can review your full losses.
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