After an accident, many car owners focus on repairing the damage, but few realize that the vehicle’s value takes a hit as well. This reduction in value is called “Diminished Value.” In Florida, the law recognizes that the at-fault driver’s insurance company is responsible for covering this loss.
No matter the make or model—whether it’s a Chevrolet, BMW, Ford, Lexus, or Ferrari—your vehicle is likely to lose value even after professional repairs. When selling your car, buyers and dealerships often check the vehicle’s history. A record of an accident can significantly lower resale value compared to a similar vehicle with no prior accidents.
If you’re unsure how to value a car in Gainesville, Florida, professional appraisers or lawyers experienced in Diminished Value claims can help determine the fair market value of your vehicle after an accident.
It’s also important to act quickly. The statute of limitations for auto accidents in Florida sets deadlines for filing claims, so consulting a knowledgeable attorney promptly is essential.
Diminished Value claims are just one aspect of Florida auto insurance law. For larger vehicles or business-owned cars, Florida commercial auto insurance claims may apply, ensuring your fleet or business assets are protected. Additionally, if you encounter issues with a seller, knowing how to sue a dealership in Florida can safeguard your rights as a consumer.
At Lost Value Law, P.A., we specialize in handling Diminished Value and other auto-related claims. Our mission is to help you recover the compensation you deserve. If your vehicle has been in an accident and you want to reclaim its lost value, contact us today for a free consultation at (954) 860-0079.
Website: https://lostvaluelaw.com/
