The Diminished Value Exclusion
In auto insurance, diminution in value means a reduction in the value of a vehicle that has been damaged in an accident and then repaired. Even if the auto has been expertly repaired with high-quality parts, it may have a lower resale value than a comparable vehicle that has never been involved in an accident. This perceived loss of value is excluded under the physical damage section of the standard business auto policy by the diminution in value exclusion....