Questions and Answers
What is a diminished value claim?
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Diminished value claims are automatically included in any property damage settlement provided by the insurance company after an accident.
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A client whose vehicle was declared a total loss after an accident asks if they can file a diminished value claim to recover the difference between the vehicle's pre-accident value and its salvage value. Is this possible?
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What are the first steps a client should take to file a diminished value claim?
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Which documents are essential to support a diminished value claim? (Select all that apply)
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What should be included in a claim letter for a diminished value claim?
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High-quality repairs can eliminate diminished value.
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Why is understanding diminished value claims important for the property damage department?
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