What Is a Diminished Value Claim? Why Your Repaired Car May Still Be Worth Less

Video Transcript

If you’re wondering what a diminished value claim is, it’s simple. Even if your car is repaired perfectly after a wreck, it may still be worth less because now it has an accident history. And South Carolina diminished value can be a legitimate part of a property damage claim, especially when you’re pursuing the at-fault driver for the damage that’s caused. South Carolina courts have recognized that when property is repairable, the measure of damages can include the cost of repairs plus any remaining diminution in value after repairs. One important distinction — if you’re trying to recover diminished value under your own collision policy, it can depend heavily on the policy language. South Carolina has addressed that issue in the insurance context as well. Practically, diminished value matters most for newer vehicles, low mileage vehicles, and vehicles where resale value is important. Insurance companies often don’t volunteer it. You usually have to document it and demand it. And that’s one more place where a good injury lawyer can step in and help you with your claim.