What is diminished value?

Diminished Value is the difference in value between a vehicle with an accident history, and the same vehicle without an accident history. This is also known as "Loss of Value".

Other Diminished Value FAQs

The insurance company says the vehicle has been repaired properly, and as a result, not suffered Diminished Value. Is this true?

No. The vehicle is still worth less regardless of it being repaired properly due to the accident.

Will my insurance rates go up as a consequence of a Diminished Value claim?

Not if the other party was at fault. The money is collected from their insurance company, not yours.

What is diminished value?

Diminished Value is the difference in value between a vehicle with an accident history, and the same vehicle without an accident history. This is also known as "Loss of Value".