What would you like to do?

Does an insurance company have to pay diminished value after repairs on a liability claim?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Currently, there is no absolute answer. Whether diminished value is recoverable depends on several factors. The initial question to answer is in which U.S. State did the accident occur? The second is whether you are the at-fault driver or the person who was hit.
Whether you can recover diminished value for your automobile depends on each state's law -- and different legal principles apply if you seek to recover as the victim of the accident or the at-fault driver. As a general rule, your right to recover from the person who hit you is governed by tort law (think negligence). If you try to recover for the decreased value of your own car as the at-fault driver, your ability to collect is typically governed by contract law.

Please realize I have provided this for information purposes and it should never be considered a substitute for legal advice.

The bottom line is If you were not at fault in the accident, the at-fault party (or their insurance company) owes you money. This is true in all 50 states. There is over 75 years of case law to back that up. If you live in the state of Georgia,Kansas, North Carolina and Washington you can also collect your diminished value from your own insurance company, whether you were at fault in the accident or not. This is based on a class action lawsuit in 2001 (Mabry v State Farm).
:
Do I Qualify?
Georgia courts have said that vehicles involved in an accident suffer a reduction in value.
The courts have said that efficient repair of any vehicle damaged in an accident may not have returned that vehicle to its pre-accident condition.
QUALIFICATION CRITERIA:

  • The vehicle has current market value.

  • The vehicle does not have a branded or salvage title.

  • The vehicle was not declared a total loss.

  • The accident happened less than 18 months ago.

  • The vehicle is NOT a lease.



FAST FACTS:
In Third Party Diminished Value Cases you can file in every state except for Michigan

  • In Georgia,Kansas, North Carolina and Washington it makes no difference who's at fault when filing a DV claim.

  • Your insurance rates will NOT go up due to a Diminished Value payout.

  • By law, insurance companies are required to pay Diminished Value.

  • You don't need to hire an attorney to help you collect Diminished Value.

  • The insurance company cannot drop you for collecting Diminished Value.

  • $15,000 is the maximum you can sue for in a GA small claims court.

  • You can deduct diminished value off your taxes. See IRS form 4684.

Thanks for the feedback!

Is it legal to not get your car repaired after the insurance company paid the claim?

It is legal as long as you don't have an outstanding loan on the vehicle, if your insurance company paid the claim, and you keep the car. Your insurance company has the right

Can you claim diminished value if insurance paid for the repairs but the paint has dust marks and the rear light is not OEM?

Yes, if any repair isn't satisfactory, in most cases the insruance companie will try to get you to sign something saying it is to your specifications,but that doesnt mean sh

When a homeowners insurance company pays a claim do the homeowners have to use it?

Not necessarily, but should you suffer a loss involving that area again and it is unrepaired you will not be paid again for that damage, or the amount paid this time will be d

Can the insurance company pay you less than the repair claim?

  ANSWER by BipolarAttorney 02/08/08   The answer really depends on the terms of your insurance policy; however, yes, it is possible that the insurance company will n

Can you get diminished value against your insurance company?

If the at-Fault Party has No Insurance    YES: under your own policy's Uninsured Motorist Coverage,  but only in the following states:   • Alaska • Arkansas

Can you sue your insurance company for not paying a claim?

You can sue anyone for anything; the question is can you win.    If you have fulfilled all of your contractural obligations  regarding a claim, including making sure y

Is it better to put in an insurance claim or pay for repairs out of pocket?

This would depend on the circumstances. Obviously you have insurance that you pay for and therefore should expect to have claims paid. That said, sometimes the net impact is s

Is there an insurance company that will not pay out if i claim?

An insurance contract is an agreement between the insurer and the insured. By its terms, in return for the payment of a premium by the insured, the insurer agrees to pay on be

Do life insurance companies want to pay claim?

Reputable life insurance companies do want to pay claims. They wish to develop positive consumer images, stay in line with regulatory requirements, and grow their business. L

How do insurance companies calculate what to pay on a claim?

The answer depends on several factors, not the least of which is the terms of the insurance policy. That is, an insurance policy is a contract that specifies the rights and re

When will your insurance company pay for your collision claim?

If your Motor Car policy covers First Party and your car getsdamaged by a collision, the insurance co. will pay for that.Whereas when there is Third Party coverage in your pol