Georgia Insurance Commissioner: No Specific DV Formula Endorsed

Georgia Insurance Commissioner Directive 08-P&C-02 states that the Department has not endorsed a particular diminished value formula or method.

The directive explains that each claim is unique and that insurers must consider relevant information, including information supplied by the insured. It also states that a formula’s result should not be represented as the definitive determination of the insurer’s liability.

For vehicle owners, this supports providing documentation specific to their vehicle rather than assuming a formula alone establishes the full loss.

Read the Georgia Insurance Commissioner’s Directive — Download PDF

I am not a lawyer. This resource is provided for educational purposes, not as legal advice. Consult an attorney about how the directive and applicable law relate to your claim.