What do you need to prove diminished value for your vehicle? Was in an accident that wasn’t my fault and the insurance company paying for the repairs gave me a number to call- but before I call I want to know what I should have on me to get diminished value. Right now the damage is already more than half of what I owe on my car- and what I owe is less than blue book value- even for not good condition of a car. Anyone know what I should bring to the table? Also- repairs and estimate of damage are not complete.
More curious in what I need to prove diminished value? I am assuming they can look up my claim to see how much the damages worth. Will I just need the claim number? And they don’t take the amount the car is worth vs. what it is worth now? i.e. if the car was worth $20,000 prior to damages and is now worth $15,000…they don’t think $5,000 is the diminished value?

And for you who answered- how much has been diminished- well I am without a car for a month-minimum. The car has extensive damage to the exterior, frame, and interior. BASICALLY- you moron- it is not going to be worth what it would have been at a trade in. THAT is the diminished value I am suffering.

I appreciate the help and answers from ACTUAL agents. It is always helpful to hear from someone in the industry.

Dimunition of value is a legal concept that varies by state. Most of the time, if the car is properly repaired, there isn’t much.

When they are calculating it, it’s usually a percentage of the damages – usually between 5% and 10%, with the higher amount, being for luxury/high end cars (think, Mercedes or Porsche) and the low end being for economy cars.

Not having any idea what kind of car you have, if you have $7,000 in repairs, you’re looking at $300 to $500 in dimunition in value.

It’s completely NOT related to how much you owe on your car. That’s a seperate deal.