Credit: bilanol/Adobe StockInherent Diminished Value Damages Unavailable to 3rd-Party Claimants, Court Says
The plaintiffs both were involved in car accidents with Commerce-insured individuals, and both individuals were deemed "legally responsible for the accident," the plaintiffs' brief said. However, both plaintiffs' cars had a lower fair market value after the accident, and the class action claimed the insurance company owed damages to make up for the diminished value of their vehicles.
January 31, 2025 at 06:44 PM
3 minute read
The Massachusetts Supreme Judicial Court rejected a class action's claims that an insurance company violated state insurance regulations by refusing to pay inherent diminished value for damages.
The decision came in a class action filed by named plaintiffs Jeffrey Frank Cubberley and Philip Seaver against the Commerce Insurance Co.
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