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 .

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

found this useful
Thanks for the feedback!
Follow

As a model, what has been your worst experience with air-brushing/Photoshop?

View Full Interview

Is there a time limit on a Diminished value claim?

   State  Years  /    Alabama  2  /   Alaska  6  /   Arizona  2  /   Arkansas  3  /   California  3  /   Colorado  3  / 
If my insurance company deducts my deductible from a homeowners claim do i still pay the deductible?

If my insurance company deducts my deductible from a homeowners claim do i still pay the deductible?

Yes. The insurance company will pay their portion of the claim which does not include the deductible because that is your portion .

If you are involved in an accident with a person who has no insurance and they are at fault does your insurance pay for repairs to your vehicle if you only have liability insurance?

No, Liability Insurance is just as it says, Liability only pays for damage you cause to another. It will not pay for damages to your vehicle if you had only liability coverage

In an auto accident does the insurance company pay damages to whom will do the repairs or to the individual driver?

  It depends. In MOST cases, the insurance company will have someone (called an adjuster) assess the damage on your car and write an estimate. After that, your insurance c

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
How long can insurance company take to approve a claim and pay a claim?

How long can insurance company take to approve a claim and pay a claim?

It all depends on the state the claim is filed. If a state does not have a set amount of time of the company to investigate and make a decision on a claim, they are required t
What are the claim procedure in liability insurance?

What are the claim procedure in liability insurance?

The same as any claim. You just call the insurance company and notify them of your loss. If coverage is available then they will assign you a claim number and begin to process

Will insurance companies pay a claim if the insured driver did not have a valid drivers license?

%DETAILS%    Answer   Yes, my daughter had recently given her boyfriend permission to drive her car. He had an expired lerners permit. He had also hit and run and

Should you turn in a claim to your insurance company or pay it yourself?

 Answer   It depends. If you're trying to keep your rates from going up, you'd need to look at your past claims history, the amount of damages from this loss, etc. 

How long can an insurance company stall before paying your claim?

The laws vary from state to state concerning time requirements on reporting/responding to losses. Additionally, many states do not have a specific insurance regulation saying

Will liability insurance pay for company property in a private vehicle if the vehicle is destroyed by fire?

  Answer   usually no, but your homeowners MAY, and your employers might as well....most auto policys specifically exclude any and all personal property, and homeown