What is diminution in value?
If your car has been in a wreck in the last two (2) years, you most likely have a diminished value (DIV) claim.
DIV is the loss in value your vehicle experiences after it has been in a car wreck, even if it has been repaired & fully restored. The at-fault driver should be held responsible for the diminished value of your vehicle but frequently insurance companies ignore this claim.
Kentucky & Ohio law both allow a car owner to recover for the diminution in value (DIV) following a wreck. When your car is damaged in a wreck, the damages will appear on a Car Fax and your car’s value will decrease as a result of the wreck. If you try to sell the vehicle, it will be used against you in negotiations.
Insurance companies frequently ignore or resist these types of claims. Contact Busald Funk Zevely for a free consultation if you or your vehicle have been involved in a car wreck.