Trust DVAC to
Recover the True Value of Your Vehicle.
Trust DVAC to
Recover the True Value of Your Vehicle.
Statute of Limitations to File:
File First Party Claim:
File Third Party Claim:
Diminished Value Through Uninsured Motorist Coverage:
Small Claims Max Filling:
Diminished value is recoverable by both a third-party who’s at fault and by your own policy’s underinsured motorist coverage. The statute of limitations is 4 years from the date of the accident. O.C.G.A. 33-4-6 and O.C.G.A 33-4-7
Georgia courts have found that the measure of damages in a third-party action is the difference between the value of the vehicle before and after the collision or other negligence or in cases where the owner repairs the vehicle, the measure is the reasonable value of labor and material used for the repairs and the value of any post-repair depreciation so long as this aggregate amount doesn’t exceed your automobile’s value. Perma Ad Ideas of AM., Inc. v. Mayville, 158 GA. App. 707 (1981).
In Georgia, there are two statutes, O.C.G.A. 33-4-6 and O.C.G.A 33-4-7 that put pressure on insurance companies to handle diminished value claims fairly. The purpose of these statutes is to facilitate the quick and fair adjustment of claims, including diminished value claims in Georgia.
Insurers must adjust claims fairly and promptly, make a reasonable effort to investigate and evaluate these claims and make a good faith effort to settle for a fair amount.
If the insurance company acts in bad faith or breaches these duties, they may be liable to pay in addition to the actual loss, a penalty of up to 50 percent of the total claim amount or $5,000, whichever is greater, plus all reasonable attorney fees.
To trigger these statutes, it’s recommended to make a written 60-day time limit demand by certified mail with a return receipt requested that includes the amount you’re willing to settle for.
The most well-known court case is State Farm Mutual Insurance Company v. Mabry, 556 S.E.2d 114 (Gs. 2001). The Georgia Supreme Court held that insurance companies have a duty to evaluate all first-party physical damage claims for diminished value in Georgia, just as they evaluate other elements of damage.
The key to receiving fair compensation for diminished value is by providing a certified diminished value appraisal report.
Experiencing a vehicle accident is a distressing event that can leave lasting effects. It’s crucial to handle the aftermath with composure and a clear plan of action to safeguard yourself and others involved. Whether it’s a minor bump or a major collision, understanding the steps to take can significantly impact your recovery process. In addition […]
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Start the process with a FREE consultation when you call us at (877) 879-0101 or fill out our Appraisal Form and we will contact you within minutes!
We analyze data to determine your vehicle’s true diminished value and deliver a quick, accurate appraisal that insurance companies can’t ignore.
We don’t stop at a report. We advise and support you through negotiations every step of the way until you receive your rightful compensation.
Even after repairs, your car may lose resale value due to its accident history—known as diminished value. Many buyers avoid damaged vehicles or expect a discount, but you have the right to file a diminished value claim. Some insurance companies won’t inform you of your right to an independent appraisal and often minimize payouts. With accurate data and a strong claim, DVAC ensures you get the compensation you deserve.
Call DVAC at 877-879-0101 for a FREE consultation or Start your Appraisal now!
