Summary – Pennsylvania Diminished Value Claims
Statute of Limitations: 2 years
Third Party Diminished Value Claim: Yes
First Party Diminished Value Claim: No, most insurance policies will exclude diminished value
Pennsylvania Property Damage Minimum Limits: $5,000 in coverage
Uninsured Motorist Coverage for Diminished Value: No coverage
Underinsured Motorist Coverage for Diminished Value: No coverage
Pennsylvania Small Claims Court Limit: $12,000, attorney representation and appeals are permitted
Pennsylvania Diminished Value Law
Pennsylvania is a state that allows drivers to file a diminished value claim if the accident wasn’t their fault. The statute of limitations for diminished value claims in Pennsylvania is two years from the date of loss. Diminished value claims are filed with the at-fault driver’s insurance company.
Holt v. Pariser Superior Court of Pennsylvania Jul 17, 1947 Full title 161 Pa. Super. 315 (Pa. Super. Ct. 1947) Copy Citation 161 Pa. Super. 315•54 A.2d 89
The correct measure of damages is laid down in the Restatement, Torts, section 928:
"Where a person is entitled to a judgment for harm to chattels not amounting to a total destruction in value, the damages include compensation for (a) the difference between the value of the chattel before the harm and the value after the harm or, at the plaintiff's election, the reasonable cost of repair or restoration where feasible, with due allowance for any difference between the original value and the value after repairs, and (b) the loss of use.
How to File a Diminished Value Claim in Pennsylvania
Step 1. Obtain proof of your car's diminished value.
The best way to prove your claim is to hire licensed, highly qualified, competent, and independent diminished value experts. The better the appraisal, the better the chance of the insurance company accepting the appraisal and paying the claim faster and for more money.
Step 2. Submit your documentation (diminished value appraisal) and demand letter for review.
The ideal time is right after you get your vehicle repaired. The sooner you file your diminished value claim, the better. Typically, if the accident wasn’t your fault, you would file a diminished value claim with the at-fault driver’s insurance company.
It’s covered under their property damage liability.
Step 3. Settle your claim.
The role of the claims adjuster is to negotiate the lowest possible settlement for the insurance company. They will either accept your claim, offer a lower settlement, or deny the claim.
To receive the highest settlement, submit as much supporting documentation as possible and haggle until the adjuster stops negotiating.
If you would like a free claim review, please call us at 704-209-7629 or complete a free estimate form to get further assistance with your Pennsylvania diminished value claim.