Estimate the diminished value of your repaired vehicle after an accident by entering the cost of each replaced or repaired part. The result is for guidance only.
Diminished value is the economic loss in a vehicle's resale value after a traffic accident, even when it has been perfectly repaired, compared with equivalent vehicles that were never damaged. The at-fault party's insurer, or the at-fault driver personally, may be liable to compensate this loss.
This tool is based on the total repair/part costs you enter and applies a coefficient according to the vehicle's age and mileage, because newer, low-mileage vehicles suffer a higher rate of value loss. The result is also capped at a reasonable proportion of the vehicle's pre-accident market value. In actual judicial and expert practice, factors such as the nature of the damage (replaced vs. repainted), the vehicle segment, make-model and regional market are also considered. The result here is therefore an approximate estimate.
A diminished value claim is first submitted to the at-fault party's insurer and, if necessary, pursued through the Insurance Arbitration Commission or the courts. Claims are usually supported by an independent appraiser/expert report. It is advisable to obtain legal support early to avoid missing limitation periods and procedural rules.
No. In very minor damage, for very old/high-mileage vehicles, or depending on fault, the claim may be rejected or assessed low.
Yes; a proper repair does not remove the diminished value claim, but keeping damage and repair records is important.
No. The result here gives only a preliminary idea; official proceedings rely on an expert/appraiser report.
Compensation for vehicle diminished value has a normative basis in the General Conditions of the Compulsory Motor Third Party Liability Insurance for Highways (Official Gazette of 14.05.2015; in force from 01.06.2015).
Article 5 - Coverage of Pecuniary Losses: The reduction in the claimant's direct property as of the accident date, including the diminished value of the damaged vehicle, is within coverage. Where claimed, diminished value is assessed by licensed insurance experts of the relevant branch, in accordance with the principles annexed to the General Conditions.
The method in the annex proceeds under four headings: (1) replacement of welded main parts, (2) straightening of welded main parts, (3) parts not falling within the first two groups, and (4) painted components.
Court of Cassation, 17th Civil Chamber, 2016/4690 E., 2016/7983 K. (20.09.2016): Diminished value is calculated from the difference between the undamaged second-hand market value of the vehicle as of the accident date and its market value in the damaged state, determined by considering the vehicle's age, features, extent of damage and the characteristics of the damaged part.
The calculation here is a preliminary estimate based on that method; the exact amount is determined by a licensed expert/appraiser report.