Diminished Value Claims in Virginia

Does Virginia Allow Diminished Value Claims?

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

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

Virginia has a Financial Responsibility Law that requires all registered vehicles carry a minimum amount of liability coverage on their auto insurance. The minimum amounts of coverage needed are $25,000 per person for bodily injury, $50,000 for bodily injury per accident, and $20,000 for property damage per accident. Virginia does allow a motor vehicle owner to register an uninsured motor vehicle by paying a Virginia Uninsured Motor Vehicle fee of $500 in addition to normal registration fees but in the case of a car accident, the uninsured motorist will be responsible to pay all the expenses and charges.

Do you handle diminished value claims in Virginia?

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

Virginia 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

Virginia 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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