Does Connecticut Recognize ‘Diminished Value?’

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Every week, lawyers from the Haymond Law Firm join FOX CT’s Morning Extra to answer your legal questions. This week, attorney Albert D’Antonio visited the program.

This week’s viewer question comes from Anson. He writes: “It cost about $10,000 to repair my car after some guy ran a red light and t-boned me. His insurance co-paid for repairs. Now I want money for “Diminished Value” because my car is not worth as much as it was prior to the accident because if I try to sell it and a potential buyer gets a Carfax report, he will offer me less when he sees it had a substantial repair. The insurance company is balking. Does Connecticut recognize “Diminished Value” claims and would I have to hire an expert to prove my loss?”

Attorneys from the Haymond Law Firm share their expertise with viewers as they submit their legal questions on a number of different topics every Tuesday on FOX CT’s Morning Extra. If you would like to know more about attorney John Haymond and his firm, go to www.haymondlaw.com.

 

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1 Comment

  • ST LUCIE APPRAISAL

    It is not up to Connecticut, or any other state, to make policy on diminished value as long as the property damage clause appears in the at-fault driver's insurance policy. A third-party has the right to sue for diminished value in any state. We at St. Lucie Appraisal Co. do diminished value appraisals for people in Connecticut all the time and, as of this time, we have never had to testify in a case there. That means people are receiving fair settlement offers.