Diminished Value Claims Glossary

Expert definitions of key terms and concepts

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The fair market value of a vehicle immediately before the accident, considering age, condition, and market factors.

The reduction in a vehicle's market value after repairs, compared to its pre-accident value.

Professional evaluation of a vehicle's value by a qualified appraiser, considering all relevant factors.

Structural damage to a vehicle's frame or unibody construction that can significantly impact value.

The automatic loss in value that occurs when a vehicle has accident history, regardless of repair quality.

Compensation for the time without vehicle use during repairs, typically covered by rental car expenses.

The amount a willing buyer would pay for a vehicle in its current condition in the open market.

The vehicle's condition immediately before the accident, used as a baseline for value comparison.

Value loss due to improper repairs or differences in repair quality compared to factory condition.

When repair costs exceed a certain percentage of the vehicle's value, making repairs economically impractical.

Modern vehicle construction where body and frame are integrated, making structural repairs more complex.

Documentation of a vehicle's past, including accidents, repairs, and ownership history.

Learn the basics of diminished value claims.

How to document your claim properly.

Answers to common questions about claims.

Our experts can help you understand and navigate your diminished value claim.