Most drivers in Frisco and across North Texas don’t realize this one costly truth: your car loses value the moment it’s in an accident—even if it’s repaired perfectly. And here’s the kicker—you might be entitled to money for that lost value. It’s called a diminished value claim, and if you’ve never heard of it, you’re not alone.
Here’s What People Are Saying About The Agent’s Office®
What Is Diminished Value?
Diminished value is the difference between what your vehicle was worth before the accident and what it’s worth after the repairs. Even if your car looks and drives like new, it now has a crash on its record—and buyers will pay less for it. That difference? It could cost you hundreds, even thousands.
A Carfax report doesn’t care how shiny your bumper is. It cares that you had damage—and the market reacts.
Can You File a Diminished Value Claim in Texas?
Yes. Texas allows diminished value claims, especially third-party claims, where the other driver was at fault. If someone hit your car, and their insurance paid for repairs, you could still file a separate claim for diminished value.
However, many people don’t know this is even possible, and guess what? Most insurance companies won’t volunteer the info. You have to ask—and sometimes push.
Real Talk: Why Does Your Car Lose Value?
Here’s how it works:
- You drive a 2021 SUV worth $25,000.
- You get rear-ended.
- It’s fully repaired and looks flawless.
- You go to trade it in.
- The dealer offers $22,000.
Why? Because the accident lowers trust in the car’s structural integrity. Even if fixed perfectly, there’s a market stigma that sticks.
That’s $3,000 in diminished value—money that should’ve been in your pocket.
How Much Is My Diminished Value Claim Worth?
It depends on:
- Age and mileage of your vehicle
- Pre-accident value
- Severity of the damage
- Type of vehicle (luxury and newer cars tend to lose more)
We’ve seen clients in Frisco and North Texas receive $800 to $4,500 depending on these factors. Every case is different, but don’t assume it’s a small amount.
Does Insurance Automatically Pay Diminished Value?
Nope. Not even close. In most cases, you’ll have to:
- File a formal claim.
- Provide documentation or a diminished value report.
- Negotiate with the insurer.
And if you’re with a big-name provider who has a checklist approach to claims, you might need help navigating the red tape. That’s where The Agent’s Office® steps in.
How to File a Diminished Value Claim in North Texas
- Get a post-repair appraisal showing current market value.
- Gather your accident and repair documents.
- Call the at-fault driver’s insurance company and start the claim.
- Negotiate—or get help negotiating.
Local Insight: Why Frisco Drivers Must Pay Attention
Frisco, McKinney, and surrounding cities have booming used-car markets. That means:
- Buyers are savvy.
- Dealerships know what to look for.
- Carfax histories are a big deal.
If you don’t file a diminished value claim, you’re potentially eating a $2,000+ loss when it’s time to sell or trade-in. Multiply that across a household with multiple vehicles? That’s real money.
What The Agent’s Office® Can Do for You
At The Agent’s Office®, we work with clients every day who didn’t even know this type of claim existed. Our team helps:
- Educate you on your rights
- Connect you with appraisal resources
- Guide your claim from start to finish
- Offer access to top-rated A+ carriers that support your right to fair compensation
We believe in protecting not just your vehicle—but your long-term wealth and buying power.
FAQ: Diminished Value in Texas
Q: What is a diminished value claim? A: It’s a claim for the loss in your car’s market value after an accident—even if repairs are made.
Q: Can I file if I wasn’t at fault? A: Yes. Texas allows third-party diminished value claims if another driver caused the crash.
Q: Will my own insurance pay for it? A: Usually not. Most standard policies don’t include diminished value coverage unless it’s added or requested.
Q: How long do I have to file? A: In Texas, the statute of limitations is typically two years from the date of the accident.
Q: Can older vehicles qualify? A: Yes, but payouts are typically higher for newer models or high-end vehicles.
Get a hassle-free quote today.
Our experts make securing life insurance easy and informative.
Final Thoughts
You handled the accident. You got the repairs. Now it’s time to recover your hidden losses.
Don’t leave money on the table. Reach out to The Agent’s Office® today and let us help you determine if you qualify for a diminished value claim. Whether you’re in Frisco, Allen, Little Elm, or anywhere in North Texas, our team has your back.
