Can I file a diminished value claim with my insurance company for my brand-new car?

"I was hit by an uninsured driver and had to file the claim through my own insurance. My car is only five weeks old. Will my insurance cover the diminished value of the car now that it has been in an accident?

"

Answer
“It is unlikely that you will be able to file a claim for diminished value with your own auto insurance company, though you may be able to present a claim if you have uninsured motorist property damage (UMPD) coverage on your insurance policy.
It is up to you to prove your car’s diminished value, and you will not be able to present this type of claim if your policy excludes diminished value claims.
If you do not have UMPD coverage on the policy, or if this coverage is inapplicable, you may be able to pursue the at-fault party directly for the diminished value.
Some insurance companies offer new car replacement coverage, but stipulations apply to this coverage as well.
The best course of action will be to choose a reputable repair shop that will guarantee the repairs for as long as you own the vehicle. “
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Shannon Martin
Answered on May 13, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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