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.
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.
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.
You need commercial General Liability Insurance
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the damage), but not collision or comprehensive unless you have the repairs made.
after an insurance company is involed after a road traffic accident can i refuse thier offer and do the repairs myself
yes their insurance covers it
No, liability insurance is when there are injuries involved. If you are injured in an accident when someone else is driving your car, your liability insurance would cover your medical costs. Comprehensive and collision insurance on the car you were driving should pay for damages to the vehicle.
If you want to collect the depreciation your insurance company withheld from your claim payment you must make the repairs to your home. After you make the repairs contact your insurance company and they should issue a check for the depreciation.
PLPD Insurance is personal liability and property damage insurance. This is an economical type of insurance where the insurance company will pay for repairs and damage done on another persons vehicle if you were found to be at fault in the car accident. There are different levels, or kinds, of this insurance.
If all you have is liability, you will have to pay for your repairs yourself. If the hit & run driver is caught, you will probably have to sue to get reimbursed.
Just contact your Home Insurance Company and ask them about it. Many companies are fine with this for small claims or minor repairs.
Ask the insurance company why they are no longer paying the rental bill. If they have accepted liability the only reason they would stop paying would be due to the repair shop taking excessive time to complete the repairs. (In the insurance company's opinion). Although you will be roped into this, it should be between the insurance company and the body shop. If the insurance company won't budge ask the repair shop to pick up the remainder of the rental bill until repairs are complete. This is common in this industry.
No, You just need to call the utility company. They will take care of their pole. If a car hit the pole, The drivers auto liability insurance could pay the utility pole owner for the cost of repairs.
In my experience, in a number of countries, Auto Insurance companies will not pay for repairs unless the repair is result of an accident. Then only what the car is worth.
If you are referring to damage on your vehicle that your insurance has paid for then yes they can cancel your insurance if you don't complete the repairs. Also, another consideration is that you don't show "pride in ownership" which is an insurance term meaning that if you don't take care of your vehicle properly you probably aren't as careful about caring for the vehicle. They may allow you to keep liability coverage on the vehicle if you don't want to keep the physical damage coverage.
Some insurance adjusters will write you a check for the immediate repairs that are noticeable, However generally there are many repairs the adjuster does not notice until after the job is complete and or the job costs more than what he has allocated in any event you have the right for a reconsideration on all aspects. If the insurance company fails to fund as needed contact your state commissioner of insurance he/she will be glad to investigate the insurance company .(Insurance Companies worst nightmare because if they have many complaints the insurance commissioner can bar them from soliciting or providing insurance with in the state. Hope this helps
Property damage liability is the coverage section of your liability auto insurance that will pay for physical damage to the vehicle or other property of another person if you are at fault in an auto accident. This coverage would pay for repairs of the person's car or whatever else is damaged.
I think this depends on the insurance company. When I was in an accident (I was at fault), the insurance company required my collision deductable up front before they started repairs on my car.
DNA Insurance is an insurance company that offers insurance for cars and other automobiles. DNA Insurance offers policies that cover legal expenses, immediate costs, and repairs.
By providing them with proof that you have already made all repairs.
Unfortunately if you do not have comprehensive insurance on your vehicle, there is no way to get it retroactive, or after you get in an accident. If it was the other driver's fault then their insurance should pay for your repairs.
The insurance premium is the amount you pay the insurance company every month. The insurance deductible is the set amount which you pay out of pocket for repairs after you make a claim. For example... you may pay $100 to the insurance company every month for the insurance policy and have a $500 deductible. If you file a claim you are expected to pay for $500 of the repairs yourself, while the insurance policy covers anything above that amount up to your max limits.
Yes. eg: If you have pl/pd, the insurance won't pay for repairs for YOUR car if it is you fault, but they will pay the repairs for the other car There's the big problem of having only the required liability insurance. If you do not have comprehensive and collision, you may have to sue the at-fault driver to force his insurance carrier pay. If you have coverage of your own, you can file a claim with your agent and immediately collect the damages (less your deductible) and your company will sue his if necessary. If and when they win or receive a settlement, you will get your deductible back.
Sure, you can request it, but they won't do it unless you are capable of doing the repairs yourself, and then they will give you the check AFTER the repairs are made.
If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).
Generally you would just file a claim with your insurance company. If you have windstorm coverage and your roof met the requirements for coverage on your policy you should have no problem getting the company to pay for repairs.