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Diminished Value

Commissioner’s Bulletin # B-0027-00
Why you should care about diminished value

Diminished value describes the difference between what your vehicle was worth before the accident and what it is worth after repairs. An insurance company may try to say that there is no diminished value – that you can sell your repaired vehicle for the same price you would have had no accident occurred. That is a complete lie.  Today with programs such as Carfax, dealers and private buyers can easily discover the repairs, and more importantly you have a duty to disclose those repairs, failure to do so could end up in a nasty lawsuit where you are the Defendant. As a former insurance adjuster and car salesman, I have the knowledge, ability, and a law license to drag the insurance companies to the courthouse if they don’t pay the diminished value.  But even the Texas Board of Insurance has directed all the insurance companies to pay diminished value.  I have recovered as much as $7500 for the diminished value of one client.  Most average around $1500, but we simply refuse to leave “money on the table” when we represent our clients.

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