Diminished Value Demand

Proving diminished value

Proving diminished value boils down to a comparison between the pre-accident and the post-accident values of your car. You can get an idea of how much your car is worth before an accident by taking it to dealers for quotes or by using the National Automotive Dealers Association price guide or Kelley Blue Book.

However, putting a value on your vehicle after an accident is more complex, and you should have your vehicle inspected by a repair facility such as a Wreck Check franchise that uses a diminished-value software program, by an independent appraiser, or by a dealership after it's been repaired. The inspection can cost anywhere between $75 and $150.

It can unearth problems you might not be able to see. For example, the trained eye of a professional will be able to spot unrepaired frame damage. Refinishing techniques might have also been substandard. The inspector will determine what, if anything, is wrong with the repair. Make sure you get that in writing.

You can then take the diminished-value report to your insurer and request a rerepair or diminished-value payment. If your insurer objects, ask the insurer to put in writing why it refuses to pay. Plus, have the company supply the policy language that shows your car's diminished value is not covered.
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