Skip the auto shop - Our mechanics make house calls

Q: What is "diminished value" as it refers to a totaled car?

asked by on

My car is totally wrecked. I have an insurance quote that is a little less than a retail amount, which is more than I thought I'd get. My friends say to go to a lawyer because I should get more than the base retail, in order to get a car better than the one that was wrecked (excellent repair history). They used the words "diminished value."

A: Hi, thanks for writing in. The insurance co...

Hi, thanks for writing in. The insurance company can use "diminished value" for a number of reasons. The overall condition of the vehicle not including the wreck, above average mileage, etc. I would ask them what criteria they are using to determine "diminished value". Also, search the internet for vehicles for sale similar to yours - year, make, model, equipment, mileage, etc. and see what they are going for. I also recommend reviewing your insurance policy and verifying what your coverage stipulations are. Hope this helps and best of luck!

Was this answer helpful?

Need advice from certified mechanic? Get help now!

Over 1000 mechanics are ready to answer your question.
The statements expressed above are only for informational purposes and should be independently verified. Please see our terms of service for more details

Ask a Mechanic
(100% Free)

Have a car question? Get free advice from our top-rated mechanics.

Ask A Mechanic
Over 10,000 questions answered!

Get an instant quote for your car

Our certified mechanics come to you ・Backed by 12-month, 12,000-mile guarantee・Save up to 30%

Get a quote

What others are asking

Q: My 2003 Subaru WRX crashed and my insurance is giving me two options.

I would recommend taking the $6000 and getting another car with the money. The body damage is only an estimate of the damages the body shop can see and estimate. There is always hidden damage the body shop cannot see...

Related articles

How Long Does a Heater Control Valve Last?
Keeping the right amount of coolant in a car is essential in keeping the engine at the right temperature. Failing to have the right amount of coolant or even bad elements...
P0240 OBD-II Trouble Code: Turbocharger Boost Sensor B Circuit Range/Performance
P0240 code definition Turbocharger Boost Sensor B Circuit Range/Performance What the P0240 code means P0240 is an OBD-II generic code triggered when the Engine Control Module (ECM) detects the intake boost...
Rules of the Road For Iowa Drivers
Driving on the roads requires knowledge of the rules, many of which are based on common sense and courtesy. However, even though you know the rules in...