The loss in market value a vehicle retains after being repaired following an accident.
Diminished value (DV) is the difference between what your vehicle was worth before an accident and what it is worth after repairs are complete. Even when a shop restores the car to a drivable, cosmetically acceptable condition, buyers typically pay less for vehicles with accident history.
Insurance companies often pay repair costs but ignore the resale hit from an accident on record. In many states, you can claim this loss — especially when another driver caused the accident — if you document it with market evidence.
No. Normal depreciation is expected wear over time. Diminished value is an additional loss tied to a specific accident and the stigma it creates on vehicle history reports.
Most often after a not-at-fault accident once repairs are finished. Timing and eligibility depend on your state and whether you are filing against the at-fault driver's insurer or your own policy.
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