Diminished value of your vehicle is recoverable in third-party cases only. You can only recover from third-party at fault insurance companies and you cannot make a claim under your own uninsured motorist insurance. All drivers must carry minimum liability insurance, and the statute of limitations is 2 years from the time of the accident. 3 AAC 26.080

Willett v. State, 826 P.2d 1142, 1144-45 (Alaska Ct. App. 1992) (“Yet diminution in value is not the only accepted method of valuing property damage.

An alternative, equally viable, and perhaps more direct measure of damage is reasonable cost of repair. See, e.g., People v. Dunoyair, 660 P.2d at 894-95. Both cost of repair and diminution in value have traditionally been regarded as acceptable methods of proving the amount of damage to property. For example, in dealing with harm to chattels, the Restatement of Torts allows either measure to be used, at the election of the person whose property has been damaged:

When one is entitled to a judgment for harm to chattels not amounting to a total destruction in value, the damages include compensation for

(a) the difference between the value of the chattel before the harm and the value after the harm or, at his election in an appropriate case, the reasonable cost of repair or restoration, with due allowance for any difference between the original value and the value after repairs, and

(b) the loss of use.

Restatement (Second) of Torts § 928 (1976).”)

Where, for example, repairs have not restored damaged property to its original value, recovery has been allowed for both cost of repairs and the difference in market value before the damage and after the repair.