Georgia
Diminished Value Overview
In Georgia, a vehicle involved in a not at fault accident may lose market value even after repairs are completed. When another driver is responsible for the accident, Georgia law allows you to pursue compensation for that loss in value from the at fault driver’s insurance company as part of your property damage claim. Georgia also allows diminished value recovery under your own insurance when you have the appropriate coverage
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01
Statute of Limitations
Georgia allows four years from the date of the accident to pursue a diminished value claim.
02
Third-Party Claims
Diminished value claims can be pursued against the at fault driver’s liability insurance when another driver caused the accident.
03
First-Party and Uninsured Motorist
Georgia allows diminished value claims under your own insurance policy and also recognizes diminished value under optional uninsured or underinsured motorist coverage.
04
Small Claims Court Limit
Georgia small claims court allows diminished value claims up to $15,000.
Georgia Diminished Value Law
Georgia law recognizes that a vehicle may suffer a loss in market value after a collision, even when repairs are completed. When another party is at fault, that loss may be recovered as part of a third party property damage claim.
Perma Ad Ideas of AM., Inc. v. Mayville, 158 Ga. App. 707 (1981)
The Georgia Court of Appeals held that when a vehicle is damaged, the proper measure of damages may include both the reasonable cost of repairs and any remaining post repair depreciation in value, so long as the total does not exceed the vehicle’s pre loss value.
State Farm Mutual Insurance Co. v. Mabry, 556 S.E.2d 114 (Ga. 2001)
The Georgia Supreme Court held that insurance companies have a duty to evaluate diminished value as part of an automobile damage claim. The court confirmed that diminished value is a recognized element of damage and must be considered alongside repair costs when determining full compensation.