Legal Question in Insurance Law in Texas

Indemnity

I was involved in an accident in Tx. My vehicle is only 8 months old and the damage was extensive; 50% of the vehicle. Due to services like CARFAX, the resale value of this vehicle will be greatly reduced. Is the insurance company or the at-fault driver required to indemnify this loss?


Asked on 1/21/07, 11:22 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Indemnity

The other driver's insurance company should pay your loss for repairs to the vehicle. There is no compensation for the alleged loss of value, because it is not known as of today. Who knows all the vehicles of your type may fall into a hole and yours be the last one left. That is more likely than receiving any compensation for the loss of future value of your vehicle.

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Answered on 1/22/07, 9:39 pm


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