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Robert L. Mertig, Claims Consultant
Author: Robert L. Mertig
Virginia law allows that, even after proper repairs have been made, you can recover the “loss of value” of your repaired vehicle after an accident in addition to the cost of the repairs. 1 Insurance companies and auto repair shops called this loss of value the “diminution of value” or “diminished value” of the vehicle.
In layman’s terms, “diminished value” means the difference in value between a vehicle that has never been damaged and the…
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