Diminished Value Claims in New York

Does New York Allow Diminished Value Claims?

Yes. The diminished value of your vehicle is recoverable in the state of New York in third party cases only.

Is it mandatory for motorists to carry liability insurance in New York?

Yes. You must have New York State issued automobile liability insurance coverage to register a vehicle in New York State. If you do not maintain the coverage, the DMV can suspend your vehicle registration and your driver license. The minimum amount of coverage allowed is $25,000 for bodily injury and $50,000 for death for a person involved in an accident, $50,000 for bodily injury and $100,000 for death for two or more people in an accident, and $10,000 for property damage for a single accident.

Do you handle diminished value claims in New York?

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

New York Diminished Value Claims Information:

  • Statute of Limitations – 3 Years from the date of the accident.
  • From the at-Fault Party’s Insurance Company – Yes
  • Under your own policy’s Uninsured Motorist Coverage – No

Information by state

New York 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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