Diminished Value
Insurance Glossary
The resale value a vehicle loses because an accident appears on its history, even after repairs restore it to working condition. Insurers call this inherent diminished value, and a claim for it is separate from the cost of the repairs themselves. Nearly every state allows a claim against the at-fault driver's insurer, claims against a policyholder's own insurer are permitted in only a few, and deadlines and proof requirements vary.
This content is for general informational purposes only and is not insurance, legal, or financial advice. Coverage, exclusions, eligibility, and pricing vary by insurer, by policy, and by state, and only the policy documents control what is covered. Always confirm the details of any coverage with a licensed insurance agent or the issuing carrier before you buy.
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