Category: Diminution in Value

Are You Entitled to Compensation For Your Car’s Loss in Value After an Accident?

Author: Lowell Steiger

Published On: October 2, 2009

What happens when you’re in an accident, it’s the other driver’s fault, their insurance fixes your car but now your car is worth less than it was before the accident? In legal terms, this decrease in value is called Diminution in Value. The vehicle looks okay but disclosing that it was in an accident will certainly decrease the amount a buyer is willing to pay. So, it begs the question “Can I ask to be paid for this decrease in my vehicle’s value?” The answer is a qualified “yes.” The law in the State of California (it may be different in different… Read More

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