Can I file a diminished value claim after a not-at-fault accident in Minnesota?

"I was not at fault in an accident with an uninsured driver. I have uninsured motorist bodily injury and property damage.

My 2015 Lexus UX is severely damaged, but my insurance company hasn't decided whether to deem it a total loss yet. Am I able to file a diminished value claim?"

Answer
“Minnesota is not a state that allows you to file diminished value claims. Since you have uninsured motorist coverage, this will cover damage to your vehicle and any injuries you may have.
As your vehicle is six years old, the rate of depreciation is already trending downward. When determining if your vehicle should be deemed a total loss, your insurance company will assess the actual cash value of the Lexus, which subtracts depreciation from the original price.
Most insurance companies do offer a fair value when paying out for a totaled vehicle.
Should you disagree with your insurance company, you do have the ability to try to negotiate with them. You may be able to get a higher payout if you can provide evidence that your vehicle is worth more than what they are offering. “
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Emily Maracle
Answered on May 10, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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