diminution in value News

The Case of the 18 Waterlogged Rugs

My appraisal team was recently asked to determine feasibility of restoration or conservation as well as the replacement values for 18 rugs damaged in a water loss. Color runs, discoloration and stains were among the types of damage incurred. Seller …

Coverage for Diminished Value Following Post-Crash Repairs Debate Continues

In the past decade, many courts and state legislatures have considered the issue of whether automobile policies provide coverage for diminished value of a repaired vehicle after a collision has occurred. Courts that have considered the issue have reached varying …

Georgia Court Allows Insured to Recover Cost of Repair and Loss in Value

The Georgia Supreme Court recently faced the question of whether an insured could be compensated by its insurer for both the cost of repair and the diminution in value of damaged real property. The issue was one of first impression …

Defining Undefined Loss Exposures in Green Construction

A green heating system that doesn’t heat. LEED-certified units that meet fewer than half the requirements for certification. Clients suing construction firms because of lost tax breaks from promised green buildings. Welcome to green construction. Even as the green construction …