Take this case for example:
You have a car that is 1 year old with a market value of $23,500. Another car hits you and it is their fault. It costs $7,000 to repair your car perfectly and the at-fault insurance company pays for it. Although your car is repaired it is not worth $23,500. Most people won’t pay full for your vehicle because it now has an accident history. If the best you can now get is $18,500 then the decreased value of $5,000 is the diminished value that the at fault pay owes you.
What Is Diminished Value?
The Decrease In Value of Your Vehicle After The Due To An Accident
Can a Diminished Value Claim
be Made in Utah?
Yes you can IF;
1- You were not at-fault. The claim will be filed against the at-fault party.
2- DV claims only apply in situations where the vehicle is repairable.
3- Your car was not a total loss.
4- You must actually have the vehicle damage repaired by a quality repair facility.
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