Collision reimbursement for value lost

by Henry

Can and should the loss of future value (such as in future trade-in value) be added to the cost of collision repair damages?


Answer:

Hi Henry,

The answer is depends. It depends of you who you are (a claimant or an insured), in other words, a third party claim or a first party claim.

You are asking for a Diminished value claim. We have written some articles about the subject. Visit: http://www.auto-insurance-claim-advice.com/diminished-value-claim.html there we outline some of the process and what kind of arguments you can make.

Depending on your situation, you could possibly make that argument.

I hope this helps some.