What Information Do I Need to File a Diminished Value Claim in Florida?
If your vehicle has suffered damage in a Florida car accident due to the negligence of another driver, you deserve to be properly compensated for all of your losses. This includes your vehicle’s loss of value due to the accident report now attached to its vehicle history. For many new cars, the lost value can be substantial.
Information Needed To File A Diminished Value Claim in Florida
Florida law requires that insurance companies return the property to the same value and quality as before the accident, but this may not be possible with the negative effects of the accident history. This loss of value cannot be fixed at a repair shop. It may be compensated as a part of your accident claim if you provide the court with the necessary proof. Let’s investigate the information you need to have to successfully recover the diminished value of your vehicle.
At-Fault Driver’s Insurance Information
Diminished value cannot be compensated by your insurance company because Florida law only allows diminished value claims to be compensated by the at-fault driver’s insurance policy. Insurance companies only pay the diminished value in third-party claims in Florida, so the at-fault driver is not allowed to file a claim for diminished value.
Independent Appraisal of the Vehicle
Your claim will need to include an appraisal which should be completed as soon as possible after repairs have been made. This will ensure that no further damage occurs that is unrelated to the accident claim. Scheduling an appraisal with a licensed appraiser with experience documenting the diminished value of vehicles will increase your odds of successfully recovering diminished value compensation.
Original Value of the Vehicle
To determine the lost value, you will need to provide proof of the value of the vehicle before the accident occurred. Along with your appraisal reports, you will need to include the receipts with the value and description of repairs made.
Speaking with a Florida accident and injury attorney is the best way to ensure you are fully compensated after an accident due to another driver’s negligence. Casas Law in West Palm Beach, Florida has a combined 50 years of experience assisting accident victims with getting the compensation they are owed. Get your free case consultation today and let Casas Law tell you what your next steps should be.
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