Your car was involved in an accident and now it's worth less after being repaired. What should you do?

Do not let the insurance company off the hook for your loss. In Illinois you can recover the diminished value of your vehicle after an auto accident. Diminished Value is the loss in market value that occurs when a vehicle is wrecked and repaired. Consumers will not pay the same price for a wrecked, then repaired vehicle, as they will for a vehicle with no prior accident history. Even if the repairs were done well, the vehicle will still lose value. In Illinois, you can recover for this lost value.

The statute of limitations on a diminished value claim in Illinois is 5 years, and Illinois does have uninsured motorist coverage for diminished value. That means if the person that hit you does not have insured, you may be able to collect the diminished valued from your own insurance company. You cannot submit a diminished value claim if you were at-fault for the accident, or if the damage was caused by something other than a collision.

Contact us for a FREE consultation to see if you qualify for a diminished value claim. Simply fill out the form below at the bottom of this page or give us a call.