Can I Claim Diminished Value for My Vehicle?

If your car was damaged in a crash that wasn’t your fault and it was repaired instead of totaled, you may still be losing money. Even after repairs, your vehicle could be worth much less because of its accident history. This drop in value is called diminished value, and yes, you may be able to claim it in Louisiana. A Louisiana car accident lawyer can help you understand your rights and make sure you’re not missing out on money you’re owed.

What Is a Diminished Value Claim?

A diminished value claim is a way to recover the loss in your car’s market value after it’s been in a crash. Even if your vehicle is fixed, buyers may not be willing to pay as much for it because of the accident report. This isn’t about the cost of repairs. It’s about how much less your car is worth now just because it was involved in a wreck.

In Louisiana, if someone else caused the crash and your car wasn’t totaled, you may be entitled to ask for this additional compensation. But insurance companies won’t bring it up on their own. You have to know to ask for it, and be ready to fight for it.

How Do You Calculate Diminished Value of a Vehicle?

There’s no single formula, but calculating diminished value usually includes:

• The car’s market value before the crash
• Its value after repairs
• The extent of the damage
• The type and age of the vehicle
• Any upgrades or improvements made before the crash

Insurance companies often try to lowball this number. They may bring in their own appraisers or argue your car was already worn down. That’s why it helps to have someone on your side who understands how these calculations work and can make sure all the value you’ve lost is properly documented.

How Do I Negotiate a Diminished Value Claim?

Insurance companies often don’t want to pay full diminished value. They may deny the claim or offer far less than what you’re owed. Here’s how to protect yourself:

• Gather proof of your car’s value before and after the crash
• Keep detailed records of all repairs
• Document any special features or recent improvements
• Don’t accept the first offer without reviewing it carefully
• Speak with a legal team that understands how to handle these claims

Many people settle for far less than they should because they don’t realize how hard insurance companies fight diminished value claims. At LJBLegal, we know how to challenge low offers and make sure your total losses are accounted for, including the hidden loss in your vehicle’s value.

If you’ve been hurt in a crash and your car has been repaired, don’t leave money on the table. Contact us for a free consultation. Let our experienced team help you claim what you’re really owed.