Auto Insurance Claims: uninsured motorist claim, uninsured motorist coverage, diminished value

Question
I recently made a claim against my Uninsured Motorist policy when my truck was hit by a car that ran a stopsign, and then the driver fled on foot. I have received all compensation for repairs including the waived $200 deductible. I was wondering if Arkansas law allows for my insurance company to offer me Loss of Value of the vehicle and/or Loss of Use. They originally did offer me Loss of Value, but have since said that Arkansas law does not allow it. Instead, they are now offering me Loss of Use only. This is a First-Party claim due to the uninsured motorist that hit me, but the accident was not my fault. I have researched this online, but I was hoping that maybe you can offer me a more clear answer as to what compensation I am entitled to from my insurance company. Thanks!


Answer
Hi Shea,

Yes. You are entitled to be paid for loss of value, known as diminished value. Since this is an uninsured motorist claim any exclusion in your policy for diminished value does not apply. You are entitled to collect from your uninsured motorist coverage any and all amounts you would have been able to collect from the at-fault party.  For more information on diminished value you should visit www.collisionclaims.com

I hope this helps
Richard Hixenbaugh