When your vehicle is involved in an accident, its value often decreases significantly, even after professional repairs. This loss in market value is known as diminished value, and understanding Florida’s laws around diminished value claims is essential for protecting your financial interests. Auto Value Professionals is here to help you navigate these laws and recover the compensation you deserve.
I had a car incident in which Progressive insurance company was reluctant to pay the money for the damages, was giving unrealistic estimates, and was trying to prolong my case. At first I was hesitant, but then I reached out to the law firm to try to change the outcome of the case and it was one of the best decisions I made. My lawyer, Oliver, was one of the nicest and cooperative people I have ever worked with. He always answered the calls immediately, explained everything thoroughly, and was very initiative in trying to solve the problem as soon as possible. Thanks to him we were able to solve everything in about a week and increase payment from insurance company by more than 10%. I recommend this law firm to everyone who wants to get what they are owed quickly.
What is Diminished Value?
Diminished value refers to the reduction in a vehicle’s market value following an accident, even if the car is repaired to its pre-accident condition. Buyers and insurers often view vehicles with an accident history as less desirable, resulting in a decrease in value. Florida law allows drivers to file claims to recover this loss, but the process requires a clear understanding of the legal framework and proper documentation.
Key Elements of Florida’s Diminished Value Laws
At-Fault vs. Not-At-Fault Drivers:
Florida law permits not-at-fault drivers to file diminished value claims against the at-fault driver’s insurance.
If you are at fault, you may not be eligible for such claims, but it’s worth consulting with experts to explore options.
Statute of Limitations
Florida’s statute of limitations for filing a diminished value claim is four years from the date of the accident.
Proof of Loss
You must provide detailed evidence of your vehicle’s diminished value, including appraisals and market data.
Why Many Drivers Miss Out on Compensation
Despite being entitled to file diminished value claims, many Florida drivers are unaware of this right. According to the Insurance Research Council, only 45% of accident victims are aware they can file for diminished value. Without proper knowledge and guidance, drivers risk leaving substantial money on the table.
The Role of Professional Appraisals
Accurate appraisals are crucial for supporting your diminished value claim. Auto Value Professionals provides comprehensive evaluations that include:
- Detailed documentation of your vehicle’s pre- and post-accident value
- Market comparisons to demonstrate loss in resale potential
- Expert testimony if needed during negotiations or legal proceedings
Protecting Florida Drivers Statewide
From Miami to Tampa, Orlando to Jacksonville, Auto Value Professionals proudly assists drivers across Florida with navigating diminished value claims. Our localized expertise ensures your claim aligns with Florida’s legal and market conditions, giving you the best chance of success.
Why Choose Auto Value Professionals?
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- Certified experts with extensive experience in diminished value claims
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- Transparent and reliable appraisals tailored to Florida’s market
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- Risk-free services with our no fees until you win policy
Contact Auto Value Professionals Today
Don’t let diminished value go uncompensated. Contact Auto Value Professionals today to schedule an appraisal and learn more about filing a diminished value claim in Florida. Protect your investment and secure the compensation you deserve.