Diminished Value

[PattersonWright]

Greetings from North Idaho !
Getting an increasing amt of questions relating to Diminished Value, and as Georgia is the only state making a provision w/D/V claims, thought I'd get opinions from the ' Talk '.
Thanks, Clients are asking these days !

Pat Wright

 

[adkisojk]

There's a petition on moveon.org to get Washington State to require that diminished value be included in claims. Please go sign it!

 

[BigIVU]

The problem with diminished value is that most auto policies cover DIRECT damage. No loss of diminished value is incurred unless or until the vehicle is sold and such value will lessen as the ACV of the vehicle declines until that time. If you never sell the auto and use it until it's ACV is minimal, no diminished value materializes as a form of direct damage.