Auto accidents bring damage. If you have been in an accident that is not your fault, you need to consider more than the cost of repairing your car and personal injury. You may also have a diminished value claim.

What Is a Diminished Value Automobile Claim?

A car that has been damaged and repaired is worth less than an identical car that has not been damaged. In fact, some consumers will not buy a repaired car at all!

A diminished value claim seeks compensation for the reduced value of your car. It is the difference in fair market value between just prior to the crash and after repair.

Who Can Claim Diminished Value?

If you are in a vehicle accident and are not at fault, you could have a diminished value case. You are not eligible if you do not own the car or if your car has been declared a total loss. And, if your car had very little value before the accident, there will likely not be any value to recover.

How Are Damages Determined?

The measure of damages for a repairable vehicle is the cost of repair plus post repair reduction in fair market value and related expenses. Repair costs plus diminished value normally cannot exceed fair market value.

What to Do Next

If you think you have a case, the next step is to contact a lawyer with experience handling diminished value actions. An attorney can help you understand if you have a cause of action and the potential recovery.

Thyden Gross and Callahan has recovered diminished value for clients in Maryland and Virginia. We will represent you even if there was no personal injury involved. Contact us at 301-968-2391 so we can help you too.