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(c) 2003 & 2006 & 2008 ... You Can Subscribe to Zalma's Insurance Fraud Letter ... by filling out form below...
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Airport Diminution in Value ... Utilizing standard valuation methodologies and market data, I have made a preliminary analysis in order to determine the diminution in value, if any, to properties located in proximity to the proposed international airport on the El Toro Marine Base site.
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The combination of Rackley's efficient and accurate rating system with Blue Book's specific and extensive vehicle database is available for commercial auto in 50 states, plus D.C. No more guessing at the original cost new value or vehicle weight of a truck!
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Georgia automobile insurance companies have been required since 2001 to "include an evaluation of diminution in value in its standard assessment of damages, just as it evaluates other elements of damage, and to adopt a suitable methodology for doing so." State Farm Mut.
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Also, many pieces of real property are difficult to value, therefore diminution is difficult to prove. For example, common areas of a condominium project may be the property of the unit owners, but there is no way to do a real estate appraisal on that property, since there is no market for it.
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Diminution of value happens when a vehicle is wrecked or damaged in an accident. The vehicle is then repaired or restored back to a roadworthy condition. The insurance company agrees to pay for the repairs. You have your car back, but it's just not the same.
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