Quote:
Originally Posted by simon
In Georgia it's law that insurance companies have to pay you diminished value after an accident. My car was involved in a fender bender that had to have the quarter panel replaced and insurance paid me about $700. I don't know how fair that is and I don't know how it works in your state either. Good luck.
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That's why our process is so broken, and now we get used parts on a repair.
Think about it from an economist's standpoint--two vehicles are involved in an accident. there is value that will be lost forever, as both vehicles are in a condition, repaired or not, that is significantly worse than before the accident.
Now, insurance has to make both parties whole again?
What is very strange, is that short of fraud, when something happens in a home, or in personal liability, the policyholder fully expects to lose monetarily in a significant fashion. Yet, often with a car, they expect something to the contrary....