Even the most minor car accidents can result in costly property damage. Once a vehicle has sustained damage in an accident, it will never have the value it did before the accident, even after repairs. If you have been involved in an accident caused by a negligent driver, you may need to file a claim to recover damages for the diminished value of your property.
Unfortunately, recovering compensation for diminished value is much harder than it should be. If you are having trouble getting the adequate payout you need, talk to a Fort Lauderdale diminished value property damage claims lawyer at Farmer, Jaffe, Weissing, Edwards, Fistos & Lehrman, P.L.
Schedule a free consultation today: 954-524-2820.
Diminished value typically falls into one of the following categories:
If you have been involved in an accident and the accident was not your fault, you may file a diminished value claim to recover damages. In Florida, the statute of limitations for diminished value claims is four years. That means that you have four years from the date of the accident to file your claim.
There are two types of claims based on inherent diminished value: first-party and third-party.
In a first-party claim, the owner of the vehicle will file a claim against his or her own insurance company. If your vehicle has been damaged, a first-party suit allows you to recover the inherent diminished value (difference between before collision value and after repair value).
Florida generally does not recognize first-party diminished value claims.
Third-party claims allow vehicle owners to seek recovery against the at-fault driver in the accident. Even if you have settled your property damage claim with your insurance company, you can still recover damages for the diminished value of your vehicle from the at-fault party’s insurance company.
You should first get an appraisal of your vehicle to show value before the accident and after the completion of repairs. It will be your responsibility to establish your loss.
In order to file a successful third party claim, you will need to prove that the other driver was at-fault for your accident. To prove this, you will need to establish the driver’s negligence by showing:
Once you have established the accident was the result of the other driver’s negligence, you will need to establish the “diminution,” i.e., reduction, of value of the vehicle.
You can prove this by presenting repair documents. You should also present the appraisal of your vehicle to show a drop in value. Any evidence you can present will help you recover damages.
Our attorneys know what evidence you need to prove negligence and diminished value. We will gather the necessary evidence and build a convincing case to get you the compensation you deserve.
This is a difficult question to answer, but we can estimate your claim’s value based on a number of factors including:
Farmer, Jaffe, Weissing, Edwards, Fistos & Lehrman, P.L. has years of experience handling diminished value property damage claims in Fort Lauderdale.
The reality is that your vehicle will not be the same value as it was before the accident, even if you get it repaired. You deserve compensation to make up for the devaluation of your property. Consult with our knowledgeable legal counsel on staff to help you determine your legal rights and options. Call 954-524-2820 to discuss your claim today.