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If you are at fault in the accident, your diminished value claim will likely be denied. If the other driver is at fault, then you should contact their auto insurer to discuss its diminished value claim process.

To qualify for a diminished value claim, the vehicle in question typically must have a market value of at least $7,000.When a vehicle has a salvage or rebuilt title, a lot of mileage, or has been in multiple accidents that caused significant damage, owners may not disqualify to make a diminished value claim.

When and how to file a diminished value claim. You should file a diminished value claim when you're in a car accident where the other party is at fault, to recover your car's decrease in value. Most insurance policies prohibit filing a diminished value claim against your own insurance company.

If you are denied a diminished value claim you do have options, but they cost money, which will negate the reason for filing a diminished value claim. Option one is to hire a lawyer. Your lawyer will challenge your denial on your behalf.

When Should You File a Diminished Value Claim?Your car's value before the accident: Older cars with a lot of mileage or structural damage are worth less than newer cars with no accident history.Who was at fault: Your insurance company won't process a diminished value claim if you're at fault for the damage.More items...

If your diminished value claim is denied or if you receive a low offer, you'll first want to negotiate. When you receive a low offer, you should make a counter offer. Sometimes by coming down on your initial demand, the insurance company will increase their offer as a gesture of good faith.

A diminished value claim compensates a driver for the drop in a car's resale value after an accident. If you've been in a car accident, your car is now worth less than it was before the damage. Even repaired, the car is now considered to have an accident history. This makes its resale value lower in the eyes of buyers.