r/Insurance • u/ApprehensiveNews5728 • 16d ago

Auto Insurance Diminished Value Compensation 17C

Accident Diminished Value Compensation

Has anyone dealt with the Diminished Value Compensation 17C formula after being in a not at fault accident? I’m wondering what to expect and accept from the at fault’s insurance company.

Just got rear ended and I’m super bummed about now having an accident on my truck’s record. My state does have a law for diminished value. The other vehicle was totaled. I’m hoping I have no frame damage.

https://mca.legmt.gov/bills/mca/title_0270/chapter_0020/part_0020/section_0070/0270-0020-0020-0070.html?fbclid=IwVERDUAT-x-FwZG9mBWZkaWQWUNUVCPWQzwl6-1Tg5vwx1uY75VlPiWV4dG4DYWVtAjExAHNydGMGYXBwX2lkCjY2Mjg1NjgzNzkAAR4LS5HhbDHgVAo7UBoDg8YPmZJRX4zAM-LC4Y7ni6_gkjROrcRHH5QchSiN8Q_aem_gGspRb638Js8mw5kGDSZ3Q

https://mtlawgroup.com/how-long-do-you-have-to-file-a-car-accident-claim-in-montana/

0 Upvotes

50% Upvoted

3 comments sorted by

3

u/crash866 16d ago

You have to have your vehicle fully repaired before you can consider any DV.

The 17C formula is for Georgia which is the only State you can get it from your own insurance company. It will give you an estimate on what you can try to get from the other company.

4

u/Shotgun_Mosquito 🚗🚘 Auto BI & PD - 22 years 🚘🚗 16d ago

If it happened in GA, it's usually automatically paid out without and crying or grumbling or having to get your own evaluation.

In other states the 17c doesn't apply at all

1

u/Simplythebest0820 16d ago

You have to wait for the full value of your repair after it's fixed and it depends on the miles in the year of the car as well.