Arkansas Diminished Value And How It Affects You.
Arkansas Diminished Value is real, and is recoverable in Arkansas. If you’ve been in a car accident in Hot Springs, Little Rock, Arkadelphia, or any other place in Arkansas and it wasn’t your fault, you are probably entitled to a diminished value award from the at fault insurance company. Arkansas is also one of the few states that allow you to claim diminished value against your uninsured motorist policy with your insurance company if the at fault person doesn’t have insurance or you were a victim of hit and run.
Arkansas Uninsured Motorist Coverage: Yes (Hit and Run, and Uninsured At Fault Diminished Value Claims may be claimed on your own Uninsured Policy.)
Arkansas Property Damage Statute of Limitations: 3 Years (You may claim diminished value on Arkansas car accidents that happened up to 3 years prior to today.)
At Fault Party Can Claim Diminished Value against their own policy: NO