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Article: State Farm to Pay Up in Georgia for Lost Value of Cars.
- Article from:
- The Atlanta Journal-Constitution
- Article date:
- January 5, 2002
CopyrightCOPYRIGHT 2002 The Atlanta Journal-Constitution. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Duane D. Stanford
Jan. 5--Georgia's largest auto insurer will begin cutting checks this spring to reimburse as many as 700,000 motorists for the lost value of their cars repaired after crashes.
In a $250 million settlement announced Friday, State Farm has agreed to pay $100 million in diminished value reimbursements to policyholders who have filed accident claims since Dec. 22, 1993.
State Farm also has agreed to pay diminished value, where warranted, in all future claims in Georgia, a payout that both sides in the lawsuit that prompted the settlement say will reach another $100 million during the next six years.
Eligible ...