Nevada
Diminished Value Overview
In Nevada, a vehicle involved in a not at fault accident may lose market value even after repairs are completed. When another driver is responsible for the accident, Nevada law allows you to pursue compensation for that loss in value from the at fault driver’s insurance company as part of your property damage claim. Nevada recognizes diminished value claims and provides a statute of limitations for pursuing them.
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01
Statute of Limitations
Nevada allows three years from the date of the accident to pursue a diminished value claim.
02
Third-Party Claims
Diminished value claims can be pursued against the at fault driver’s liability insurance when another driver caused the accident.
03
First-Party and Uninsured Motorist
Most first party policies in Nevada do not cover diminished value, and uninsured or underinsured motorist coverage generally does not apply to diminished value claims.
04
Small Claims Court Limit
Nevada small claims court allows diminished value claims up to $10,000.
Nevada Diminished Value Law
Nevada courts recognize that a vehicle does not automatically return to its original market value simply because it has been repaired. When a vehicle is damaged due to another party’s negligence, any resulting loss in market value may be recovered as part of a third party property damage claim.
Dugan v. Gotsopoulos, 117 Nev. 285 (2001)
The Supreme Court of Nevada held that damages to personal property may be measured by the difference between the property’s fair market value immediately before and immediately after the loss. The court confirmed that evidence of a vehicle’s pre loss and post loss value is admissible to establish property damage.
Restatement (Second) of Torts § 928 – Harm to Chattels
Nevada follows the general tort principle that when personal property is damaged but not destroyed, damages include compensation for the difference between the value of the property before the harm and its value after the harm. In appropriate cases, damages may also include the reasonable cost of repair, with an allowance for any remaining loss in value after repairs are completed.