Auto Insurance Claims: New car accident not at fault, Diminished value


Question
My wife was in an accident for it was determined that she was not at fault. The other driver was ticketed and at fault. Our car is 2 months old from the show room and the damage can be repaired, am I entitled to compensation for the decrease in value of the new car due to the accident, even if it is repaired? No personal injuries, just vehicle damage. Both parties have same insurance company.

Answer
Hi Andress,
Yes. You are entitled to be pad for the diminished value of your car. The amount of diminished value will depend on the extent of the damage. You may need to hire a professional diminished value appraiser to determine an appropriate amount.

For more information on diminished value you should visit www.collisionclaims.com .

I hope this helps
Richard Hixenbaugh