Court & Company – Diminished Value
Diminished Value is a relatively new concept in Alberta. If you’ve been in a car accident that wasn’t your fault and your car has been repaired, you may be able to sue for the diminished value to your vehicle.
Diminished Value takes 3 distinct forms:
- Insurance Diminished Value – Did the insurer replace your name-brand parts with generic parts? You may be able to be compensated. That’s insurance diminished value.
- Repair-related Diminished Value – Was your car repaired? What if the repairs aren’t up to snuff? You may be able to be compensated. That’s repair-related diminished value.
- Inherent or Stigma Diminished Value – Even if the car has brand-name parts and perfect repairs, it still might not sell for the pre-accident value. This area of diminished value is the hardest to prove and the least likely to be accepted by the Courts. However, it does exist and you may be able to be compensated.