Trust DVAC to
Recover the True Value of Your Vehicle.
Trust DVAC to
Recover the True Value of Your Vehicle.
Statute of Limitations to File:
File First Party Claim:
File Third Party Claim:
Diminished Value Through Uninsured Motorist Coverage:
Small Claims Max Filling:
Diminished value is recoverable in third-party cases and through your own uninsured motorist coverage. Minimum liability coverage is required and the statute of limitations to file a claim is 3 years from the date of the accident. Chapter 50 Damages 5027.
Potomac Ins. Co. v. Wilkinson, 57 So. 2d 158, 160-61 (Miss. 1952)
Holding that if, despite repairs, there remains “a loss in actual market value, estimated as of the collision date, such deficiency is to be added to the cost of repairs.”
Ishee v. Dukes Ford Company, 380 So. 2d 760, 761 (Miss. 1980)
(“The proper measure of tort damages for a plaintiff holding personalty for sale in the retail market is the total diminution in retail market value proximately caused by the defendant’s tort. Cost of repair may be recovered, as well as the remaining diminution in pre-tort value after the proposed repairs, but in no event may cost of repair be recovered to the extent it exceeds the total diminution in pre-tort value in the case of one holding personalty for sale rather than for personal use. See gen. Calvert Fire Ins. Co. v. Newman, 240 Miss. 10, 124 So.2d 686, 688 (1960)”)
Mississippi Model Jury Instruction – Civil 11:30 5027 Damages – Personal Property – Cost of Repairs
In determining the amount to award the plaintiff for damage to [his/her/its] personal property, you should consider whether the personal property can be repaired or restored to its earlier condition. You may consider (1) the cost of repairs and (2) how much less the personal property will be worth once it is repaired.
If repairing the personal property will make it worth the same as it was before it was damaged, then you should only award the reasonable cost of repairs. If repairing the personal property will not make it worth the same as it was before it was damaged, then you should award the reasonable cost of repairs and the difference between what the personal property was worth and what it will be worth once it is repaired.
Experiencing a vehicle accident is a distressing event that can leave lasting effects. It’s crucial to handle the aftermath with composure and a clear plan of action to safeguard yourself and others involved. Whether it’s a minor bump or a major collision, understanding the steps to take can significantly impact your recovery process. In addition […]
Read MoreOUR PROVEN PROCESS
Start the process with a FREE consultation when you call us at (877) 879-0101 or fill out our Appraisal Form and we will contact you within minutes!
We analyze data to determine your vehicle’s true diminished value and deliver a quick, accurate appraisal that insurance companies can’t ignore.
We don’t stop at a report. We advise and support you through negotiations every step of the way until you receive your rightful compensation.
Even after repairs, your car may lose resale value due to its accident history—known as diminished value. Many buyers avoid damaged vehicles or expect a discount, but you have the right to file a diminished value claim. Some insurance companies won’t inform you of your right to an independent appraisal and often minimize payouts. With accurate data and a strong claim, DVAC ensures you get the compensation you deserve.
Call DVAC at 877-879-0101 for a FREE consultation or Start your Appraisal now!
