Diminished Value is the loss in value of your vehicle after it has been in an accident. If someone else is at fault, even if the insurance company pays for the car to be repaired, there is a "diminished value" loss. Specifically, the diminished value can either be due to inadequate/substandard repair work and/or the fact if there was structural damage to the vehicle, it now is worth less than market value.
If you would like more information, feel free to contact us.
David E. Schreiber
Mayerson Schreiber McDevitt, P.C.
(610) 948-4800; (800) 524-7300