The insurance company told me that the amount of my diminished value claim for my damaged automobile is set by an insurance company formula. Is that true?

No, that is not true. The value of your diminished value claim is generally determined by the age, condition, and mileage of your vehicle before the damage to the vehicle. Please consult an attorney to discuss the facts of your case so that your rights will be fully protected. Please contact Rumsey & Ramsey at (770) 394-9400 to discuss the facts of your case with a lawyer.