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Insurers may have a ‘diminished value’ problem in Georgia

Many homes lose value after they're damaged by wind or hail. How should the insurer assess diminished value?

By Steven A. Meyerowitz, Esq., Director, FC&S Legal | Updated on September 25, 2017
Courts in Georgia have recently ruled in favor of insureds on the issue of diminished value after property losses. (Photo: Shutterstock)

This story is reprinted with permission from FC&&S Legal, the industry’s only comprehensive digital resource designed for insurance coverage law professionals. Visit the website to subscribe.

A federal district court in Georgia has refused to dismiss as untimely a lawsuit against State Farm Fire and Casualty Company alleging that it failed to pay for “diminished value” under a homeowners’ insurance policy. The court found that the plaintiffs had plausibly alleged that the insurer had waived the policy’s one-year suit limitations period. This is the second recent district court decision to reach this conclusion.

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