Diminished Value in Georgia

[southernbbq]

What is the name of your state (only U.S. law)? Georgia

I have a 2016 luxury sports car with ~10,000 miles (value brand new $80k) that I owned for less than a year before I got hit by another driver who ran a stop sign. He assumed full responsibility and his insurance paid for the repairs which amounted to about $4000.

After the fact, I got an appraisal for diminished value which amounted to about $4000, and his insurance company denied my request stating that the vehicle had not assumed any major frame damage and therefore would not affect the value of the car.

I took the vehicle to the dealer, to Carmax and a few other dealers who appraised the car between $6000-$10000 less than what the value of the car would be without an accident and clearly (and in writing) cited that an accident on this vehicle has affected the trade in or sales value of the car.

I am now contemplating what to do: no attorneys will take the case on since there wasn't any personal injury. Living in Georgia, I could in theory file a DV claim with my insurance and have them go after his insurance, but I want to hold them directly accountable.

I am now considering suing in small claims but have read mixed advice--some say that I need to file suit against the driver and some say that I can go directly to the insurance company. Furthermore, I do feel like his insurance is acting in bad faith and I believe I can recover extra expenses if I can prove that (multiple back and forth with supervisors, providing several estimates and trying negotiation only to be told $0 when I have a lot of supporting evidence to me feels like bad faith).

Any suggestions on how to proceed?

 

[adjusterjack]

Living in Georgia, I could in theory file a DV claim with my insurance and have them go after his insurance,

Yes, you could do that, but understand two things:

1 - In 2001 the GA Supreme Court ruled that DV was covered under the terms of first party policies. That was 15 years ago. It's possible that the GA insurance industry subsequently wrote a specific exclusion into the policies. Make sure you carefully read the limits of liability in the damage to your vehicle coverage part.

2 - Your own insurance company will also dispute any pie-in-the-sky estimates of DV that you present. Keep in mind that dealers will always low ball you on a trade because dealers are crooks. Your actual DV may only be the difference between a low mileage car in excellent condition and a high mileage car in good or fair condition.

I am now considering suing in small claims but have read mixed advice--some say that I need to file suit against the driver and some say that I can go directly to the insurance company.

I don't know where you are getting your advice from but you don't sue the insurance company. The insurance company didn't cause the accident, the driver did. You sue the driver. If you win and the court says how much, then his insurance company will be obligated to pay on his behalf.

Furthermore, I do feel like his insurance is acting in bad faith and I believe I can recover extra expenses if I can prove that (multiple back and forth with supervisors, providing several estimates and trying negotiation only to be told $0 when I have a lot of supporting evidence to me feels like bad faith).

Forget it. There's no bad faith there. The other driver's insurance company is not your insurance company and owes you nothing until a judge says so and says how much. Until then his insurance company's obligation is to protect him under the terms of the policy. You don't like the results, of course, but your remedy is to use your own insurance where your company has a contractual obligation to you.

Feel free to sue the other driver in small claims court for your DV and see how it goes.