Are you familiar with diminished value? If you are a plaintiffs attorney or insurance defense attorney, you will hear about it soon from one of your clients.
Diminished value is a growing area of practice within the legal community. Simply stated, diminished value, or DV, is the market value lost by a vehicle as the result of an accident. This lost market value is separate and additional to the cost of mechanically repairing the vehicle. DV claims can be complex and difficult to prosecute or defend without experience and familiarity with applicable state law.
