Georgia Diminished Value FAQs

Yes. In Georgia, the statute of limitations for property damage is four (4) years from the date of the accident. Even if your repair settlement has already occurred within those four years, we can still help you negotiate a settlement for Diminished Value.

No! Whether you want to sell your repaired vehicle right away, or 10 years after the claim, is your business. The drop in resale value occurs immediately after the accident, and you are entitled to be compensated immediately.

Your insurance company will pay to repair your vehicle, but after a collision, it's less marketable than before the wreck. When you sell the vehicle, you will be forced to absorb a loss unless you make a Diminished Value claim. For example, if your $30,000 vehicle is repaired after a major collision, it may only be worth $20,000. Is that fair to you? No! A Diminished Value claim allows you to get a settlement for the difference in market value for a pre-and-post-crash vehicle. In Georgia, it is almost impossible for an insurance company to deny a diminished value claim to an insured claimant.

Fair market value is the highest monetary price your property will receive once exposed to an open market, allowing time to find a willing buyer, where full disclosure of all uses, accident history, and repairs are made. We determine this true value by surveying actual local Georgia market conditions.

YES! Both you and your insurance company have a right to an appraisal under your policy's Appraisal Clause. It is always wise to hire your own impartial appraiser, like a Licensed Public Adjuster, to determine the value of your loss. Your insurance company may not protect your best interests with their in-house or computerized formulas. When you protect yourself with an independent appraisal, your insurance company is obligated to negotiate a loss settlement using both. Be certain, and exercise your right to a competitive appraisal.

We get this question all the time. In short, ‘no’. However, you probably won’t be surprised that the offers made by your insurance company for your totaled vehicle's Actual Cash Value (ACV) are rarely accurate. We can almost always help you increase your settlement. YOU DON’T HAVE TO ACCEPT WHAT YOUR INSURANCE COMPANY IS OFFERING. Let us review your claim for free and give you our opinion of the offer. With total loss vehicles, the damage is often much more severe, which increases the likelihood of injury. PLEASE tend to what matters the most (a.k.a. - YOU and YOURS) first. We care FAR more about you than we do your automobile. Metal can be replaced ... you can't. When YOU are taken care of, let us take care of your property.

Most insurance companies in Georgia use a flawed calculation known as the "17c formula." This formula places an arbitrary 10% cap on your loss and uses unfair mileage and damage modifiers to severely reduce your payout. This formula is not mandated by law, and as Licensed Public Adjusters, we routinely defeat it by providing a true, independent market appraisal.

Yes. Georgia is unique because it is the only state that allows you to demand diminished value compensation if you are the 1st Party (the at-fault driver). You can file this claim directly against your own insurance policy.

If you are financing your vehicle, you are the registered owner and can file the diminished value claim directly. If you are leasing the vehicle, the leasing company is technically the owner. You will need to contact your lessor to discuss the terms of filing a claim, but we can still assist in providing the accurate appraisal data required.