AFTER A CAR ACCIDENT MY CAR IS NOT WORTH WHAT IT SHOULD BE EVEN AFTER IT IS REPAIRED?
This concept is known as diminution of value and relates to the reduced value of an automobile that has been involved in a crash. Because records are maintained documenting damage repairs, anyone buying a used car can and most likely will find out whether a car has been in an accident. As a result the resale value of the car will be less than a similar car that was not involved in a crash. There are formulas used by insurance companies that take into account the age, condition, and mileage of your vehicle in arriving at a specific amount of compensation which you are entitled to receive as a result of diminution of value of your car after a car crash.