Diminished Value in South Dakota
Residents of South Dakota should be aware of their state laws concerning diminished value claims. The state requires citizens to file claims within six years of an incident. Otherwise, claims are invalid. There is also no coverage for uninsured motorists or at-fault parties.
South Dakota DR&R BULLETIN 03-02: The party’s insurance agency claiming diminished value is not required to pay the party when the vehicle is completely repaired to its original state. If the repairs do not meet pre-incident conditions, the insurance agency is still obligated to satisfy the claim.
