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Based on this example, an auto insurer would pay out a maximum of $1,500 for a diminished value claim on this vehicle. However, based on the damage and mileage, the final calculated estimate for a ...
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...
In Michigan diminished value claims are limited to $3,000 maximum by the state's mini-tort legislation. There is no diminished value claims in the state of Michigan. The Mini-Tort legislation is for the uninsured portion, typically the deductible if insured, of the damages to the vehicle, up to a maximum of $3,000.
In 2002, the company settled with the State of Georgia in a class action lawsuit over diminished value claims brought by policyholders. [40] Five years later, the company apologized after it was revealed they hired private investigators to infiltrate a church group and pose as congregation members to collect information on litigants seeking ...
The ghost of claims past. This Florida woman bought a flood insurance policy for $8,600 — but after her home flooded during Tropical Storm Debby, her nearly $100K claim was denied due to a major ...
This Florida couple’s home was flooded during Hurricane Helene — paid insurance for 12 years but a 3.5-inch step down to living room meant claim was denied. Here’s the ‘laughable’ reason why
(Note: Florida Statute 222.25(4) provides that if the debtor does not claim or receive the benefits of a homestead exemption, the debtor may claim a $4,000 personal property exemption which is over and above the $1000 to which all debtors are entitled pursuant to Florida Statute 222.25(1).
The Florida housing market has always been an interesting landscape. It attracts a significant number of retirees and anyone looking for a primarily sunny spot to live, but rising home prices might...