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Diminished Value

Diminished value is the drop in a vehicle's resale value after a major repair, even if the repair was done correctly. It can be recovered from the at-fault driver's insurer in many states.

The drop in resale value of a vehicle after a major repair, even if the repair was done correctly. Recoverable from the at-fault party's insurer in many states. Example: a $50,000 SUV repaired after a collision may sell for $44,000 instead of $48,000 once a buyer pulls the accident history. The $4,000 gap is a diminished-value claim.