GA diminished value law: It is universally accepted under 3rd party tort law that in every state Diminished Value is owed to the claimant by the at fault party. In Georgia the insurance companies owe Diminished Value to their policyholders as well. This is great news for accident victims in Georgia.
GA Diminished Value Law
The Supreme Court of Georgia, in “State Farm Insurance Company v. Mabry et al., 274 Ga. 498 (2001),” ruled that insurers owed their insured for Diminished Value of their vehicle following an accident. In response, insurance companies in Georgia have attempted to utilize a Diminished Value formula referred to as “Rule 17c.” Rule 17c is actually a fall back method of measuring Diminished Value in the absence of any other documentation determining Diminished Value. A Diminished Value calculation or bundle from selfhelpdiminisedvalue.com is a documented measure of Diminished Value that prevails over the Rule 17c method. The Diminished Value 17c Formula is unfair to Accident victims. Typically, “Rule 17c” pays pennies to the dollar of what is really owed to consumers for Diminished Value. selfhelpdiminishedvalue.com works hard to educate consumers so they can get a fair Diminished Value Settlement. Even though our diminished value calculation and bundles are not covered for first-party claims under our “money back guarantee” they may be of help in settling your claim.
Related to the “Mabry vs. State Farm” case, Georgia Insurance Commissioner John W. Oxendine has issued this news release about his Directive No. 01-P&C-1 ordering insurance companies to “cease using any language which implies the Department has endorsed a particular formula or method to determine diminution of value.” This applies to first and third-party claims where insurance companies insist (lie) that formula 17c is a acceptable way to determine diminished value.