Auto Insurance Claims: Car Value after accident, diminished value, lost market value


Question
Hello,
My question is would I be entitled for the depreciation of my 2012 Kia from the insurance company that rear-ended me. This happened 8/29/13.
My fear is that when I go to sale this car and get a newer one the value will be a whole lot less due to having such an accident. Also, mostly not being the one in the wrong to cause loss of value.

Answer
Brenda -

Yes, you are indeed owed the depreciation, which is normally called diminished value or lost market value.  Your best course of action is to hire an expert and get a formal appraisal to present to the insurance company with a demand for your losses.  That is what we do on a daily basis and I would be happy to take a look at your case to shed some light on what the claim is worth if you need our assistance.  You can check out our services and get more info on this type of loss at our website: diminishedvalueexpert.com