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DIMINISHED VALUE CASES

UNDERSTANDING YOUR LEGAL RIGHTS

Individuals who are involved in automobile collisions and who incur damage to their automobiles often overlook their right to be compensated for the diminution in the value of their automobiles that was caused by the accident, even after their cars have been completely repaired. Georgia law recognizes in certain cases that an automobile that has been wrecked may have a value that is less than a comparable automobile that has not been wrecked.

Insurance companies may choose to take the position that their obligations have been fulfilled after they have paid to have the automobile in question repaired. What most people are not aware of is that the responsible insurance company has the further obligation to compensate the automobile owner for the diminution in value of their vehicle caused by the accident. Beware of any representations by agents or employees of insurance companies that their responsibility to pay for the diminution in value of automobiles is limited by a predetermined formula. That is incorrect. No diminution in value case is the same, and your case is determined by the type, age, and mileage of your vehicle that was involved in the accident.

PROTECTING YOUR LEGAL RIGHTS

Please contact Rumsey & Ramsey at (770) 394-9400 to discuss your case or other legal inquiry with an attorney. If you own a vehicle that has been involved in a collision, do not be lead to believe that your rights are governed by a predetermined formula. In fact, the damages in your case could be unique and should be properly compensated for by the insurance company.

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