Detailed Answer
Diminished value refers to the difference between a vehicle’s fair market value immediately before an accident and its value after repairs. In New Hampshire, courts recognize diminished value as part of your property damage claim. Although no statute explicitly sets rules for diminished value, insurers must handle all claims in good faith under RSA 408:13 (Unfair Claim Settlement Practices). https://www.gencourt.state.nh.us/rsa/html/LIII/408/408-13.htm
1. Pre-Accident Condition Documentation
- High-resolution photos showing mileage, interior, exterior, and any upgrades before the crash.
- Maintenance records and service receipts to prove your car’s upkeep and customizations.
2. Post-Repair Evidence
- Final repair invoices detailing parts, labor, and paint matching.
- Photos of repairs in progress and after completion.
3. Expert Appraisals
- Independent appraiser report estimating pre- and post-accident value.
- Credentials (e.g., Member of the International Society of Appraisers).
4. Comparable Sales Data
- Sales listings of similar year, make, model, mileage, and condition.
- Market analysis from reputable sources like Kelley Blue Book or NADA Guides.
5. Vehicle History Reports
- Carfax or AutoCheck showing accident history, title status, and registrations.
- Evidence that a salvage or branded title will reduce resale value.
6. Dealer or Buyer Statements
- Quotes or letters from local dealers confirming lower trade-in or offer price post-repair.
- Real-world offers and refusals to purchase at pre-accident value.
By combining these elements, you create a strong factual basis to demonstrate the financial loss you suffered. Present this evidence clearly and organized when you submit your diminished value claim to the insurer or, if necessary, in court.
Helpful Hints
- Gather photos immediately at the accident scene and keep backups.
- Get at least two independent appraisals to compare results.
- Keep all original invoices and digital records in one file.
- Consult a qualified attorney before filing if the insurer denies your claim or undervalues it.
- Act quickly: New Hampshire’s six-year statute of limitations for property damage claims runs from the date of the accident. RSA 508:4 https://www.gencourt.state.nh.us/rsa/html/LIV/508/508-4.htm
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a licensed attorney in New Hampshire to discuss your specific situation.