Diminished Value
/ˈdɪmɪnɪʃt ˈvæljuː/
Definitions
- (n.) The reduced market value of property, especially a vehicle, after it has been damaged and repaired.
The insured sought compensation for the diminished value of his car following the accident.
Related terms
See also
Commentary
Often arises in insurance and property damage contexts; claimants must establish that repairs do not restore full market value.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.