Detailed Answer
When your vehicle is damaged in an accident caused by another driver and the car is repaired, it can still lose market value because it now has an accident history. That loss in resale value is called “diminished value.” Under Wyoming circumstances, the process for getting a diminished value quote typically follows these steps:
1. Confirm you may have a diminished value claim
If another driver was at fault and their insurer (or the driver) paid for repairs, you may be entitled to compensation for the diminished value. If your insurer paid for repairs and subrogated against the at-fault party, you may still have a claim to pursue against the at-fault driver’s insurer. Before you start, collect basic documents: the repair invoice, photos of the damage and repairs, the vehicle’s pre-accident and current mileage, and any vehicle history reports (like CARFAX) showing the accident.
2. Get one or more repair estimates and the repair invoice
Obtain a detailed repair invoice that lists all parts and labor. If repairs are not yet complete, obtain estimates from reputable shops. Insurers will compare repair quality and cost to determine whether repairs were done properly and whether diminished value exists.
3. Obtain a diminished value appraisal or market analysis
There are three common ways to get a diminished value quote:
- Independent diminished value appraiser: A professional appraiser will inspect the car, review repair records and comparable sales, and issue a written report estimating the loss in market value.
- Dealer/market-comparison quote: A local dealer or used-car evaluator can provide a market-based estimate comparing resale values of similar un-damaged cars to your repaired car.
- Online calculators or insurer tools: Some insurers or third parties offer automated diminished value tools. These can provide a quick estimate but may not be accepted as definitive proof.
For the strongest claim, obtain a written appraisal or report that explains the methodology, shows comparable sales, and includes photographs and repair documentation.
4. Present the quote to the at-fault insurer
Send the diminished value report, repair invoice, and supporting documents to the at-fault driver’s insurer. Submit a concise demand letter that states the amount you seek, attaches evidence, and asks for a timely response. Keep copies and send documents via a trackable method (email with read receipt, certified mail, or insurer’s online claim portal).
5. Negotiate
The insurer may accept, reject, or make a counteroffer. Be prepared to explain your appraisal’s basis — comparable vehicles, the car’s pre-accident condition, and how repairs affect resale value. If the insurer disputes the methodology, consider obtaining a second independent appraisal or dealer valuation to strengthen your position.
6. If you cannot reach agreement
If negotiations stall, options in Wyoming typically include mediation, small-claims court for modest amounts, or filing a civil action. Check the Wyoming Department of Insurance for consumer guidance and consider speaking with an attorney if the amount at stake justifies legal help. The Wyoming Department of Insurance provides consumer resources you can consult: Wyoming Department of Insurance. For statutes and insurance rules, see Wyoming statutes for Title 26 (Insurance): Wyoming Statutes, Title 26.
Practical timeline and expectations
Get an initial diminished value estimate soon after repairs are complete. Expect insurers to investigate — this can take several weeks. Small or unclear diminished value claims may settle for a modest amount. Larger claims backed by strong appraisals or market evidence have a better chance of recovery, but recovery is never guaranteed.
Hypothetical example
Jane’s 2018 sedan was rear-ended. The shop repaired structural damage and produced a $3,500 invoice. Jane obtained a diminished value appraisal showing a $2,000 market loss based on comparable sales and the vehicle’s accident history. She submitted the appraisal to the at-fault driver’s insurer with the repair invoice and photos. After a short negotiation, the insurer paid $1,250. Jane accepted because the insurer’s counteroffer plus the time and cost to pursue a larger recovery outweighed the difference.
When to consult a lawyer
Consider legal advice if the diminished value is substantial, an insurer denies liability, or you receive a lowball offer and want to pursue a higher recovery. An attorney can explain litigation risks, likely costs, and the best forum (mediation, small claims, or district court). This article does not provide legal advice; consult a licensed Wyoming attorney for case-specific guidance.
Disclaimer: This is general information about the diminished value process in Wyoming and is not legal advice. I am not a lawyer. For advice tailored to your situation, consult a licensed attorney in Wyoming or contact the Wyoming Department of Insurance at doi.wyo.gov.
Helpful Hints
- Collect evidence early: photos of damage, repair invoices, vehicle history reports, and pre-accident maintenance records strengthen your claim.
- Use a written appraisal: a detailed report from an independent appraiser or dealer improves credibility.
- Compare multiple appraisals: if the insurer disputes your number, a second independent appraisal can help in negotiation.
- Keep repair receipts and documentation of OEM vs aftermarket parts. Quality of repairs affects market perception.
- Ask if the insurer uses a specific diminished-value formula and request that formula in writing so you can respond effectively.
- Send communications in writing and keep records of dates, persons spoken to, and claim numbers.
- Check the Wyoming Department of Insurance for consumer complaint procedures if an insurer acts unfairly: doi.wyo.gov.
- Weigh costs vs benefits: for small amounts, negotiation or settlement may be faster and cheaper than litigation.