What is Diminished Value?
The law defines Diminished Value as “the difference between a vehicle’s value immediately before the accident and after the repairs have been completed”.
Over 50% of all buyers won’t buy a car that has been in an accident. Those that will expect a large discount. That is what keeps Carfax in business
Who pays for
Diminished Value?
By law only the At-Fault driver’s insurance policy pays for diminished value, not the victims insurance policy.
Will my premiums Increase?
No. Under the Law the at-fault driver’s insurance company pays for diminished value, your insurance company never pays a penny.