diminution in value (auto)
Diminution in value (auto) is a measure of the perceptual and/or actual lost market value for automobiles involved in major accidents, even if the automobile or vehicle is repaired properly.
diminution in value (auto)
Diminution in value (auto) is a measure of the perceptual and/or actual lost market value for automobiles involved in major accidents, even if the automobile or vehicle is repaired properly.
Additional Information
This lost value is particularly relevant for newer and higher-value vehicles. Most states do not recognize an automobile insurer's obligation to indemnify for this type of loss.
Synonyms
DV
