How much is a diminished value claim worth?
By Jeff Zigman, TRUEclaims · Updated
The short answer
It depends on the car, its mileage and the damage, but with True Claims diminished value claims have usually settled for $2,500–$6,000, within 1–6 weeks (past results, not a forecast). On a one-third fee, that's about $1,000 to the firm on average.
Diminished value is the resale value a car loses after it's repaired, because its history now shows an accident. The claim is usually made against the at-fault driver's insurer; rules vary by state.
The firm fronts about $200–$350 per diminished value claim for the valuation report, recovered from the settlement.
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General information, not legal advice. Figures are past True Claims results or illustrative, as labelled. TRUEclaims is not a law firm.