23 May Florida Diminished Value Claim: What You Need To Know
After a car accident, you vehicle is likely to have suffered damage. The body shop often does everything they can to repair your vehicle. However, just because repairs are made does not necessarily mean that you are completely made whole. You may have rights to compensation for the diminished value of your vehicle due the car accident. It may be in your best interested to contact a diminished value claim attorney that has experience in handling these types of claims.
What Is Diminished Value?
Diminished value is the difference between what your vehicle was worth before the accident and what your vehicle is worth after/ with subsequent repairs. Diminished value can decrease the reliability of the vehicle, the life/ future use of the vehicle and what some consider most important, the resell value. Anyone that has ever purchased a used vehicle before knows that vehicles with no prior accidents typically are worth more. An accident on a vehicle’s record can make it harder to resell and often, less desirable. Therefore, it may be in your best interest to pursue a diminished value claim if it available to you.
Who Is Responsible For Providing Compensation For A Diminished Value Claim?
In Florida, it is typically the at-fault party involved in the car accident that is responsible for paying a diminished value claim. It is important that evidence is collected throughout the claim including before and after photos, damage estimates, current vehicle costs, and sometimes, expert reports.
Factors Considered In A Diminished Value Claim
There are a variety of factors that are considered when evaluating diminished value claims after a car accident. Many times, diminished value claims are handled by insurance companies on behalf of their insured driver. Of course, all evidence will be provided and considered. However, insurance companies will often try to do everything they can to minimize these claims thereby paying out less monies and protecting their insureds. These factors that are often considered include but are not limited to:
– Initial price of vehicle
– Cost of repairs
– Current vehicle market value
– Significance of damage
– Subsequent price of vehicle
– Rarity of vehicle
EXPERIENCED DIMINISHED VALUE CLAIM ATTORNEY
You need someone that is going to stand up for you when it comes to diminished value. I understand that the process after getting into a car accident can be difficult and stressful. You likely have questions and few answers as to the next steps to take. Allow me to be there for you from the beginning. I offer a FREE no-obligation consultation where we can discuss your claim. I will review your diminished value claim with you personally at one of the office locations in Tampa, Zephyrhills, Saint Petersburg, Brandon, Clearwater, Plant City or Sun City Center. Cannot make it to me? I will come to wherever is convenient to you at NO charge. You deserve to be compensated and I want to get justice for you!
Contact Diminished Value Claim Attorney Kevin L. Sullivan II TODAY at (813) 598-4868 for a FREE no-obligation consultation. I look forward to assisting you with your claim!