Diminished Value in Illinois

Even after quality repairs, a vehicle that’s been in an accident may be worth less than it was before the crash.

This reduction in market value is known as diminished value. In Illinois, you may be entitled to pursue this loss when another driver was at fault.

How Diminished Value Is Treated in Illinois

Illinois recognizes diminished value claims when your vehicle loses market value due to an accident caused by another driver. This loss is typically pursued through the at-fault driver’s insurance company. :contentReference[oaicite:7]{index=7}

There is generally a **five-year statute of limitations** to file a diminished value claim in Illinois, so it’s important to act promptly after your accident. :contentReference[oaicite:8]{index=8}

Claims against your own insurance may be possible only if you have specific coverages — such as uninsured motorist property damage — that allow it. :contentReference[oaicite:9]{index=9}

What Diminished Value Means

Diminished value is the difference between what your vehicle was worth immediately before the accident and what it’s objectively worth after repairs.

Even when repairs restore function and appearance, accident history can reduce resale and trade-in value.

When Diminished Value Is Most Likely to Apply

Diminished value claims are most often pursued when:

• Your vehicle was damaged in an accident caused by another driver
• The vehicle was properly repaired to pre-accident condition
• You can provide documentation showing a loss in market value

Why Diminished Value Claims Can Be Challenging

Insurance companies may dispute diminished value claims, arguing that repairs restore full value unless strong evidence is provided. :contentReference[oaicite:10]{index=10}

A professional appraisal comparing pre-accident and post-repair value often strengthens your position and increases the likelihood of a fair settlement. :contentReference[oaicite:11]{index=11}

Before You Pursue a Diminished Value Claim

Diminished value claims require documentation and evidence — not assumptions.

Understanding whether diminished value applies to your situation helps you set realistic expectations and pursue the claim effectively.

Need Help Evaluating Diminished Value in Illinois

EstiVerify helps determine whether diminished value may apply and whether pursuing it makes sense based on vehicle type, damage severity, and market conditions.

Related topics: Illinois Repair Rights | Illinois Total Loss