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Based on this example, an auto insurer would pay out a maximum of $1,500 for a diminished value claim on this vehicle. However, based on the damage and mileage, the final calculated estimate for a ...
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...
Along with North Carolina, Louisiana is one of the few states where diminished value is part of statutory law. Diminished value compensation is regulated in Louisiana Revised Statute 9:2800.17. §2800.17. Liability for the diminution in the value of a damaged vehicle
The Louisiana Civil Code (LCC) constitutes the core of private law in the State of Louisiana. [1] The Louisiana Civil Code is based on a more diverse set of sources than the laws of the other 49 states of the United States: substantive law between private sector parties has a civil law character, based on the French civil code and Spanish codes and ultimately Roman law, with some common law ...
Louisiana car insurance laws require minimum liability coverage with 15/30/25 policy limits. This means drivers must carry: This means drivers must carry: $15,000 in bodily injury liability per person
Dealer retail value: A dealer retail value is the price a dealer will sell your car for after any repairs or modifications have been made. This value will also include a profit margin for the dealer.
2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
After an accident, the average cost of car insurance in Louisiana for full coverage rises from $3,609 to $4,863. For comparison’s sake, the national average is $2,542. 4 things to do after a hit ...