What is Diminution of Value?
After a vehicle has had repair work done to it, it is possible that it will have suffered a loss in market value.
Has my vehicle sustained a loss in value because it has been repaired?
Many factors play a role in determining if a vehicle has sustained a loss in value due to repair work having been done to it.
Below are some of the variables:
Type of loss
Severity of damage
Type of vehicle
Age of vehicle
Mileage on the vehicle
Type of repairs done to the vehicle
Quality of repairs done to the vehicle
Each vehicle needs to be reviewed on a case by case basis.
My insurance company wants to use Used parts to repair my vehicle, and I do not want that .
Often, “Used parts” conjures up images of muddy, rusting parts, with a junkyard dog standing watch over them.
In this day and age, it is quite possible to find a good, clean comparable part to the one that is being replaced,
as there are large, modern recycling facilities that aim to sell good condition Used parts. With that being said,
it is possible to wind up with a Used part that is damaged or is not the correct version of the part being replaced.
With many insurance companies using Used parts, your best bet is to have a good body shop perform the repairs
to your vehicle. They will make sure that the part is equal to the part being replaced on your car.
The information contained here is based on personal observation and experience and does not constitute legal advice.