What is Diminished Value?

Diminished Value is the difference between the value of a vehicle before an accident ("pre-loss") and its value after repairs are made when you are not at-fault.

What Can This Look Like?

Diminished Value is determined by multiple factors. The most important are: Year, Make, Model, Mileage, and the extent of and total cost of collision repairs. Let's look at an example:

Your vehicle, valued at $34,500, was damaged in a collision caused by another driver last year. At the time of the accident, you went through the standard procedure: exchange insurance information and get the car repaired. After the car was repaired properly, its appraised value is around $28,000. That's a $6,500 loss of value due the accident! 

That $6,500 difference was your vehicle's Diminished Value. Fortunately, there are processes recognized by insurance companies that can allow you to recover that lost money.

What Qualifies Your Claim?

• You were in a vehicle accident within the past 2 years.* (FL)
• You were not the at-fault party in the accident.
• Your vehicle is less than 7 years old.**
• Your vehicle has less than 75,000 miles.

*Even though there is a longer time limit on filing a claim, it is highly recommended to file as soon as possible. We will check your state's rules.

**Some vehicles might have Diminished Value even if older than 7 years due to the Year, Make, Model, and Mileage. Collectible, luxury, and exotic cars are examples of this exception. 

Why Should You File a Claim?

The money from a Diminished Value claim is money that rightfully belongs to you, and it is income-tax free!

This All Sounds Like My Situation. How Do We Proceed?

Not many people know that Diminished Value exists. Insurance companies won't mention Diminished Value, even though they have a legal obligation to pay a legitimate claim. However, Vehicle Value Recovery is successful at processing Diminished Value claims. We have the knowledge and experience to collaborate with insurance companies to reach a reasonable settlement.