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Florida Personal Injury Lawyers
$3,830,000

Catastrophic motorcycle accident resulted in a jury verdict.

$1,748,000

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$1,200,000

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$850,000

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$550,000

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$450,000

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$350,000

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$300,000

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$210,000

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$195,000

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Your Right To File A Diminished Value Claim

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Being involved in a Florida motor vehicle accident can result in serious injuries. Apart from that, a car accident can result in damage to your car. Treating a serious injury and repairing a vehicle after a car accident can be quite expensive. Fortunately, in Florida, if another driver is to blame for your Florida car accident, you are entitled to compensation for medical expenses and any vehicle repairs that are reasonably required due to the accident. You should not have to be the one to pay for your medical expenses and vehicle repairs if another driver is responsible for your accident.

Unfortunately, even if you repair a car after an accident, the car’s market value will decrease. If you try selling your vehicle after it has undergone repairs, chances are, you will not find a buyer willing to pay a high price. Many people are unwilling to pay a high price or even buy a vehicle with a history of accidents.

Your Right to File a Diminished Value Claim

Diminished value is the decline in value your vehicle experiences because of an accident. Even if you repair your vehicle after an accident, its value will still decrease because of the accident. No matter how good the repairs are, every car loses value after an accident. However, how much an accident devalues your car is dependent on various factors, including;

  • The extent of the damage – A minor damage such as a broken taillight can be fixed without leaving any evidence of the repair. On the other hand, it is hard to repair more serious damage and not leave evidence of the repair. Any noticeable evidence of repair can decrease the value of a vehicle significantly.
  • Your vehicle’s history of accidents – Generally, the higher the number of accidents a car has been involved in, the lesser its value.

Fortunately, you may also have the right to seek compensation for your vehicle’s depreciation in addition to the cost of vehicle repair if another driver is to blame for your accident. Filing a diminished value claim against an at-fault motorist can help you recoup the worth of your vehicle if you intend to sell it later.

When you file a diminished value claim against an at-fault driver’s insurance company, you will need documentation of the pre-crash market value of your car. A qualified car accident attorney can help you find the documentation you can use to show how much your car was worth before the accident. An experienced attorney can help you find proof showing how much your car’s resale value has dropped because of the accident.

How Long Do You Have to File a Diminished Value Claim?

Under Florida’s statute of limitations, you generally have four years to file a diminished value claim.  It is best that you hire an experienced attorney to help you with a diminished value claim. If an insurance company refuses to compensate you for your vehicle’s depreciation, an attorney can help you take the matter to court.

Contact a Fort Lauderdale Personal Injury Attorney

If you’ve suffered injuries and vehicle damage in a Florida car accident because of another driver’s fault and need professional legal help, contact our Fort Lauderdale personal injury attorneys at The Pendas Law Firm.

The Pendas Law Firm also represents clients in the Miami, Orlando, Ocala, Tampa, Jacksonville, Fort Myers, Bradenton, Daytona Beach, and West Palm Beach areas.

Source:

flhsmv.gov/traffic-crash-reports/crash-dashboard/

Read What Others Have To Say About Us

  • “I can’t express how much I appreciate this law firm. I had the honor to deal with attorney Daniel. He kept me updated on my case. I couldn’t ask for a better law firm. Daniel fought for me til the end and got me what I deserved. Thanks Daniel and your team for always being there to answer any of my questions. If I ever need a law firm again...”

    Terry Mcphillips
  • “Speedy & superb handling of clients & cases, kind & caring. Highly recommended professionals. They made everything very easy for us, were outgoing & polite. I would call them again if ever in need, rather than call the larger firms that need to advertise & brag about winnings…Pendas was a pleasant & more personal approach instead of...”

    Joseph Kestell
  • “Wow I called Pendas Law Firm the other day at their main intake line it was around 11 o’clock at night and I’ve got this wonderful representative his name was Jeffrey Alvarez. This guy was very professional and his compassion was out of this world I don’t know what I would do if I could not have got a hold of him...”

    Luis Sanchez
  • “Thank you for helping us in our time of need. This firm handled my father’s workers comp case, and helped us with every question we had, and we had a plenty. Thankful for the entire legal team!”

    Enilno Resu
  • “I just concluded a case with attorney Michael Sanchez and paralegal Camilo Lopez. I can only say they are exceptional. The customer service is unique, they have been battling alongside me since day 1. They are not only courteous and professional, but they also are amazing at their job. Thanks to them I got a great deal. I am glad I decided to use their services...”

    Israel Garcia
  • “Their attorneys are absolutely someone you want handling your car accident claim. They communicated with us promptly and thoroughly. I was very happy with our recovery. Already recommended them to others in the same circumstances, their staff speaks Spanish and you feel like in family.”

    Ian Brito
  • “Very Professional law firm. They explained to you every detail what to do according to the laws (worker’s compensation). Mr. Danilo Cruz is the best Lawyer and his team. They are very kind, friendly, responsible, I love this firm. They fight for their clients. AwesomeTeam!”

    Lau Rod