LPT: In a not-at-fault automobile accident, you are entitled to a check for the value your vehicle lost after being repaired. This is called "Diminished Value". But you will only get it if you ask.

This is a repost of a tip that I haven't seen in a couple years. The original post was gilded with 800 responses and 12k upvotes so I'm hoping this helps some people out again.

• Total time is about ten minutes over the phone and ten minutes over email.

• Only works if you are found 0% at fault.

• 46 states have laws that address diminished value. The statute of limitations is all over the place, but in Maryland you have three years.

• The conversation is with the at-fault party's insurance company. Not your own.

• No lawyer, no lawsuit, no court proceedings. Just a request and an offer.

• This has nothing to do with negotiating the value of a totaled vehicle.

Once a car has been in a collision it is worth less money. Even if they fix it up using OEM parts, it's still been devalued. This is better known as "diminished value". Any damage to your vehicle is recorded under the VIN, and when it comes time to resell your car people will pay less for it. Insurance companies acknowledge this. But they won't mention diminished value to you. You'll only get it by asking.

Here's the process:

1) Give your side of the story to the other person's insurance company like normal. But make a note of the name/number for the agent you spoke to.

2) Wait until the insurance companies agree on who is at fault. That usually takes a couple of weeks and you can call your own insurance company for an update. They must conclude you were at 0% fault or else you can stop right here.

3) Call up the agent for the other insurance company and tell him you are pursuing diminished value. Depending on the size of the office they'll either send you off to someone else, or they'll help you. It helps to have THEIR claim number as a reference.

3) Be courteous. Nothing is more irritating than non-lawyers impressing their legal rights on a customer service agent.

4) Answer their questions. Sometimes they'll send an agent to inspect the car after it's been fixed. Sometimes they won't. But in 3-10 days they'll provide you an offer.

5) Accepting or declining the offer is up to you. But once you arrive at a figure that is amenable to both sides, you sign a document waiving your right to sue the insurance company for this collision. Once they have that, they mail you a check.

One phone call. But guess what happens if you don't make that phone call? Nothing.

My personal examples:

Vehicle: Hyundai Tucson

Estimated Value Before Collision: $17,650.00

Damage: Rear ended. Most of the trunk had to be replaced.

Cost to Repair: $1,765.00

Diminished Value Offer: $882.50

Vehicle: Hyundai Tucson

Estimated Value Before Collision: $15,950.00

Damage: T-boned in an intersection. Three of four side panels replaced and frame had to be corrected.

Cost to Repair: $3,275.00

Diminished Value Offer: $1,300.00