What to do if I was recently the victim of a hit and run and the driver who hit my parked car took off?

UPDATED: Aug 16, 2013

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What to do if I was recently the victim of a hit and run and the driver who hit my parked car took off?

He was found a mile away. My car has major damage to the rear-end. I am trying to ask his insurer about the diminished value but they are saying it is not recognized in the state by the insurance commission. What are my options? My car had a good resale/trade in value..

Asked on August 16, 2013 under Accident Law, New Jersey


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Unfortunately, you cannot generally recover diminished value due to the fact that a car had an accident. All you can recover is the lesser of:

1) the cost to repair, if the car is repairable; or

2) the then-current fair market, or "blue book," value, if the car cannot be repaired and must be totaled;

plus any direct, out-of-pocket costs, such as towing charges, renting a car while yours is in the shop, etc.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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