If you are in a car accident in Florida, figuring out and recovering fair compensation for your expenses and losses is often tough. There are recoverable damages you might not even think about. One of those is the diminished value of your damaged vehicle. A Florida diminished value claim lawyer can help you understand and recover these damages.
An auto accident lawyer from GED Lawyers handles diminished value claims and other property damage recoveries in Florida. We also help injured victims seek the compensation they deserve. If you need help with your car accident case, contact us for a free case assessment.
What Is Diminished Value After a Florida Auto Accident?
When a car suffers damage in a collision, its resale value decreases. Even with quality repairs, a crashed car is never the same value as an identical one that was not in an accident. To this end, Florida law allows accident victims to hold the at-fault driver accountable for the difference between the car’s worth immediately before the accident and what a buyer would pay afterward.
Florida recognizes diminished value claims under Florida Statutes § 626.9743. Under this section of the law, Florida also requires insurance companies to pay third-party claims when their policyholder caused the crash and vehicle damage. The insurance carrier cannot, for example, recommend that the victim files a claim with their own insurer instead to avoid paying for the repairs and diminished value of the vehicle.
This is important since Florida is a no-fault state regarding injuries in car accidents. Victims must meet a statutory threshold before pursuing a fault-based case for their injuries. The same is not true for property damages under this section of law.
How Can a Lawyer Help Me Recover Money in a Florida Diminished Value Claim?
At GED Lawyers, our team understands how confusing and stressful the insurance claims process often is after a crash. We help victims understand their options, build cases, and recover the money possible based on the case facts and applicable laws. We know how the Florida car insurance laws work for both injuries and property damage, including diminished value claims.
When you choose our team to represent you, you can trust our lawyers to:
- Investigate the crash
- Prepare and file your claim
- Gather, preserve, and present evidence to show fault and liability
- Document your property damage and serious injuries as needed
- Handle all communication with the insurance companies
- Negotiate for fair compensation
- Manage all aspects of your case from start to finish
We know the applicable deadlines and how to navigate the claims process. This includes how to document the sale value of your vehicle before and after the crash and more.
We are a contingency fee law firm. We do not ask you to pay money upfront or bill you until the case closes. Then, we only charge attorney’s fees if you win.
How Does the Insurance Company Determine the Diminished Value of a Car?
Determining the diminished value of a vehicle is not straightforward in every case. In general, we must determine a price for:
- The pre-crash sale of the vehicle
- The possible sale price of the vehicle after the crash and repairs
In doing this, there are several factors we must consider. This is what allows us to accurately value the car before and after the accident. These factors include:
- The car’s age and condition
- The car’s mileage, with low-mileage vehicles being worth more
- Any history of previous accidents
- Other factors affecting the value, such as upgrades
While, generally, the value of a car goes down over time, there are exceptions. Antique cars, show-car quality vehicles, and other special vehicles likely have a higher value than others in the same age range. They could possibly be worth more than many newer vehicles.
A history of collisions could cause issues with the insurance company paying a diminished value claim, too. They often use this as a reason to reduce or deny a diminished value claim, saying the car lost that value with the previous accident.
In either of these situations, or if your insurer is not valuing your vehicle fairly, our team can help. Let us evaluate your options today for free.
When Do I Need a Lawyer to Help Me Navigate This Process?
There are circumstances when an insurance company makes navigating the claims process on your own difficult or impossible. When this occurs, calling GED Lawyers and letting us take over might be in your best interest. This could include when:
- The insurance company refuses a fair offer
- They deny your claim without explanation or a valid reason
- They are dragging their feet handling your claim
- There are other signs they will not cooperate with your claim
Of course, we often represent crash victims from the first day. We file their claims and manage the process for them from start to finish.
What Other Damages Are Recoverable in a Florida Car Accident Case?
Florida uses a no-fault auto accident system that asks most injured crash victims to file a claim with their own insurer first. Many injury claims receive basic coverage—medical payments and lost income—through the victim’s personal injury protection (PIP) coverage.
Only if they meet the criteria set by state law can they file a fault-based claim or lawsuit. This includes suffering serious or lasting injuries as determined by the applicable laws.
However, crash victims can hold the at-fault driver accountable from the beginning when it comes to property damages. Car repairs, diminished value, and other related costs are recoverable.
Discuss Your Options With a Florida Diminished Value Claim Team Member
At GED Lawyers, our team provides free case consultations. If you were hurt or suffered property damages in a Florida crash, we are here to help. Our attorneys serve all parts of Florida and Massachusetts.
Contact us for your free consultation by calling or using our online form.