Loss in vehicle value (Diminution)
If your vehicle is involved in an accident that was not your fault, even when the repairs are completed satisfactorily, you could be left with a loss in vehicle value.
Much will depend on the type of vehicle you own. The more prestigious and unusual the vehicle, the more likely it is that the claim for “diminution” will be accepted.
There are numerous factors to consider that have been outlined in case law precedents dealing with this unusual item of loss:
What The Courts Take Into Account
In addition to having proof of the loss claimed, the courts will want to take into account the following details about the vehicle:
- Its age;
- Service history;
- The make/model of car
The more you take care of the vehicle and the newer and more unusual it is, the more likely it will be that a claim for diminution can be successfully made out.
If you want us to help with a diminution claim, please give us a call for a “no strings” chat!