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

Get an instant quote for your car

Our certified mechanics come to you ・Backed by 12-month, 12,000-mile guarantee・Fair and transparent pricing

Get a quote

What others are asking

Q: Do I need gap insurance?

Gap insurance is designed to cover the difference between what is owed on the vehicle (your car loan) and what the insurance company may pay out in the event of an accident or loss. Any example might be a situation...

Related articles

How Long Does a Distributor O Ring Last?
The distributor is part of the ignition system in your vehicle and its purpose is to route high voltage from the ignition coil to the spark plug. The spark plug then...
How Much Does a Mechanic Make in Vermont?
Automotive technician jobs in Vermont have an average mechanic salary of $37k, with some mechanics earning a salary of $53k.
P2103 OBD-II Trouble Code: Throttle Actuator Control Motor Circuit High
P2103 means there is a fault with the throttle actuator control motor circuit, likely due to a defective electrical component or part.