Diminished Value Claims in Illinois

Does Illinois Allow Diminished Value Claims?

Yes. The diminished value of your vehicle is recoverable in the state of Illinois in third party cases and under your own policy’s Uninsured Motorist Coverage.

Is it mandatory for motorists to carry liability insurance in Illinois?

Yes. Liability insurance is legally required. Minimum insurance requirements are $25,000 for injury or death of one person in an accident, $50,000 for injury or death of more than one person in an accident, and $20,000 for damage to property of another person. Drivers must always carry their insurance card in their vehicle and show it upon request by any law enforcement officer.

Do you handle diminished value claims in Illinois?

Yes. Although we are based in Texas, our services are available across the United States including Illinois.

Illinois Diminished Value Claims Information:

  • Statute of Limitations – 5 Years from the date of the accident.
  • From the at-Fault Party’s Insurance Company – Yes
  • Under your own policy’s Uninsured Motorist Coverage – Yes

Information by state

Illinois Diminished Value Claims
Whenever you need a diminished value assessment or report, or an appraisal report for losses related to any vehicle – car, motorcycle, boat, or RV, contact EAG.
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