Diminished Value Explained
Loss in market value, diminution of value, diminished value, depreciation, and lost value are some of the terms used to describe what happens to certain vehicles after they have been involved in an accident.
Most consumers know that this type of loss happens, but they just don’t know how to properly document the loss, and there are very few insurance companies that will offer to calculate it for the consumer because that would just mean more money out of the insurance company’s pocket. When consumers search for help, they sometimes misspell the actual terms and come up with less than optimum help. It is not diminition of value, it has a “u” in it, hehe. I have seen such misspellings as demiciated value, depreciated value, diminishment of value, and depreciation of value. First off, spell it right, and you might come across some better resources!READ MORE ABOUT DIMINISHED VALUE