Diminished Value
Quick answer
The Agreement defines Diminution of Value as the difference between fair market value before damage or loss and value after repair, calculated through the stated third-party estimate.
60-second explanation
Why it matters
A repaired vehicle may be evaluated for a claimed change in market value separate from the cost of the repairs themselves.
In plain English
Repair cost asks what it takes to fix the physical damage. Diminution of Value asks whether the vehicle's market value is lower after the repair.
This entry explains the Agreement's definition. It does not value a vehicle, validate an estimate, or decide whether the component applies.
What to confirm before you arrive
Practical checklist
- Understand that repair cost and value change are separate concepts.
- Ask for the supporting third-party estimate if a claim includes this component.
- Keep condition, repair, claim, and coverage documents.
Example
A vehicle can be fully repaired while a third-party estimate separately evaluates whether its market value changed.
Treating diminished value as another name for the repair invoice.
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Information and Agreement boundary
This plain-language entry is educational, not legal advice. The Rental Agreement, Rental Record, confirmed STARS policy, applicable law, and rental-specific facts control. Industry context does not create a STARS promise, price, or contractual obligation.