Accelerated Depreciation (Automotive) is the lost value a vehicle carries after it’s been repaired from an accident. Accelerated Depreciation is the Canadian term used to describe the similar term in the United States, called diminished value. Although they are describing similar losses, how a person goes about reclaiming those losses in either country is a different process. In some states, insurance companies acknowledge diminished value and provide this coverage direct to their consumers. In Canada, in order to recuperate the lost value after an accident, a person needs to retain legal council and order an acceleration depreciation report on their car for the courts use.

Accelerated Depreciation Report

An accelerated depreciation report is a report written by an unbiased expert vehicle appraiser, that provides the value of the vehicle before the accident and assesses the value of the vehicle after the accident, in order to establish the financial loss to the owner. These reports are used by law firms in court, to establish the damages that the plaintiff is looking to recover. Accelerated depreciation reports in Canada have to be written in compliance with Rule 11-2 of The BC Supreme Court, Duty of Expert Witnesses..

External links

• Rule 11-2 BC Supreme Court
• Accelerated Depreciation Case History: Signorello vs. Khan/Impark