How Long Does It Take to See a Payout From a Loss of Value Claim in Florida?

February 11, 2022
When you seek compensation for the diminished value after an accident, there is a window of time that insurance companies have to pay or deny the claim. In the state of Florida, insurance companies have 30 days to accept or deny payouts from a loss of value claim. Florida law does offer guidelines that insurance companies must comply with. Let's look in greater detail about payouts from loss of value claims in Florida. 

Florida Loss of Value Claims

When you file a claim for loss of value in Florida, insurance companies can have as much time as is needed to investigate the claim, provided that the decision is made within a reasonable amount of time. What is considered reasonable? That is open for interpretation typically, but in Florida, a reasonable amount of time is 30 days.  However, an insurance company that takes an excessive amount of time to decide a claim can be liable for unlawful deceptive trade practices. Once the claim has been decided, the insurance company must provide a reason when choosing to deny the claim. 

Compensation For Car's Diminished Value

Once an insurance company has approved your diminished value claim, your attorney will negotiate the terms of a settlement with the insurance company. Upon reaching a settlement, the insurance company then has 20 days to issue payment.  Failure to provide payment within 20 days will result in the insurance company being liable for an additional payment of 12% interest. It may not seem like much, but it adds up quickly. If you settle your claim for a certain amount, being late makes the insurance company owe you additional money. Make sure that the insurance company knows that you mean business Contact Casas Law in West Palm Beach and schedule your free consultation today. Our attorneys have years of experience negotiating with insurance companies on behalf of our clients and won't back down or be intimidated by them. At Casas Law, we are waiting to answer all your diminished value questions.

WHAT OUR CLIENTS ARE SAYING

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Nick Sarta is the most reliable, honest, and caring attorney I have ever dealt with. He and the rest of the firm were great to me and helped me recover the maximum on my case!
Alex Casas and his team provided the best service and results I could have ever expected. I would highly recommend him for your legal needs. I was always able to speak to him directly when needed. He goes above and beyond!
Lis Patterson
Lis Patterson
15:43 14 Sep 22
i have come to alex on several unfortunate accidents and always made me feel like top priority. very accessible and attentive team answering any doubt or question that comes to mind that brings a sense of comfort in troublesome times. Always appreciate the work they've done for me
Dario Santiago
Dario Santiago
18:48 23 Aug 22
Would definitely recommend they got back with me within 24 hours for my calls nice swift handling of the case thank you
Angela Casarella
Angela Casarella
00:38 10 Aug 22
From the beginning Alex explain the whole process and the possibilities we had. Since this was my first experience needing a personal injury attorney, I was nervous about the whole process. Alex took the time to explain everything from a to z. The whole experience was super easy, they were always accessible and they kept me informed. Although I hope I will never need a personal injury attorney again, should there be a need, I will surely choose Alex and his team.
Lynnette Penalbert
Lynnette Penalbert
21:09 09 Aug 22
I had a extremely positive experience from start to finish with Alex and his team. Alex was always available and responsive to my questions and concerns. He assisted me with Medical and Insurance matters. Alex is a friend and a very capable attorney. If I could give 10 Stars, I surely would. Thank you Casas Law.
Beth Keller
Beth Keller
15:21 20 Jul 22
Excellent and trustful Attorney!
Kervin Moya
Kervin Moya
17:52 19 Jul 22
I never thought I would need a personal injury attorney, but sometimes life happens. I heard many stories about what people have gone through after being injured and I was quite nervous about the process. I was referred to Alejandro (Alex) Casas by a friend. Throughout the process Alex was very professional, compassionate, explained things very clearly and took the time to listen to me. His office staff was always there to answer questions. I never had to wait long for an answer about anything. Casas Law did not try to micromanage my choice in health care providers, but did have a lot of knowledge about local providers if I needed recommendations. A friend of mine was coerced into seeing certain practitioners for care by her attorney. That did not happen to me. The thing about Alex that impressed me most was that he was very straightforward, approachable and honest. Alex knew the right strategy to settle my case and I am happy with the results. It sure made it easier to recover knowing I was a being represented by competent professional team that was looking out for my best interest. I highly recommend Casas Law.
Denise Hall
Denise Hall
18:12 15 Jul 22
Three months ago I had a car accident, the other vehicle invaded lane and shocked us, from the beginning I was honest with the lawyer, but in my opinion It took them too long to dismiss the case (three months) and inform us that they were no longer going to represent us, that waste of time caused any other lawyer to want to represent us, I do not recommend this lawyer at all.
Gaming Matt Ramirez
Gaming Matt Ramirez
19:03 13 Jul 22
My family and I are very thankful to Alex and his team for litigating our case against a business owner whose employee committed negligence. We are very thankful and very pleased with the outcome of our case. Thank you!
Olga Hernandez
Olga Hernandez
20:36 12 Jul 22
From the beginning of the process of my accident, Alex Casas and his firm, have been nothing but professional and the most helpful attorney any client could possibly be searching for!! I would highly recommend their services without any hesitations.
Alfredo Amador
Alfredo Amador
07:11 10 Apr 22
Alex is the most compassionate lawyer providing quality legal representation with his clients best interests at heart. I highly recommend him for all types and levels of legal work.
Steve Bialakis
Steve Bialakis
20:33 30 Mar 22
If you want a good lawyer and a reliable one and trusting one casas law it's the one to go to very trustworthy and makes you feel comfortable and doesn't beat around the bush.
Xavier Rodriguez
Xavier Rodriguez
00:50 17 Mar 22
Not often do you come across a Personal Injury Attorney that has received 5 Stars from every reviewer. You must meet Alejandro (Alex) Casas to truly understand where the five stars come from. His attention to detail, his care and concern for his clients, his love for his community, his knowledge of the law and just as important, his honesty. He speaks the truth always!! Due to being bilingual, he's helped the Hispanic Community in more ways than one. Alex is the real deal!! Eduardo Gruvman
Eduardo Gruvman
Eduardo Gruvman
20:29 17 Feb 22
Alex and his team are well versed in personal injury law. They are open, honest, and always put the client first.
Tom Shea
Tom Shea
20:37 11 Aug 21
Alex Casas and his team knew just the right approach for my suit and handled it with tact and care. Alex is one of the nicest lawyers I've met - no ego-- no pontificating -- no showing us how important he was. Alex got right down to business, with a smile on his face, and completed our claim quickly, achieving the results we wanted. Thank you, Alex, Susie and Staff.
Jann Seal
Jann Seal
16:16 06 Jul 21
"A steady, reassuring and calming voice when you need it most." Alex Casas and his team are great. My situation was very complicated since I was dealing with a number of insurance companies and multiple hospital bills! The team at Casas Law worked with all the various factors and made everything seamless as well as keeping me informed the whole way. I would not have known how to maneuver the insurance waters so I was very glad that Alex was there for me. I would highly recommend Casas Law, Alex, Susie and the whole team.
Bob Going
Bob Going
14:39 08 Jun 21
I was recommended to Alex Casas by my father and I am absolutely ecstatic with how simple and easy he made my auto collision injury case for me he handled everything to where all I had to do was show up and sign on the line! I’d recommend him to anyone!
Dylan Lower
Dylan Lower
17:02 05 Feb 21
I am very pleased with the assistance from Casas Law P.A and will recommend this firm to anyone and everyone that needs help. They are very professional and friendly and go above and beyond the call of duty. Thank you so much for all your help.
Jeff Pickett
Jeff Pickett
16:46 10 Nov 20
Alex Casas is by far the most present and engaged attorney with whom I have had the pleasure of working. The staff is caring and pleasant. The response time is extremely fast. And he is good at winning! Thank you for all you have done for us over the years! I highly recommend Casas Law!
Meroe Rabieifar
Meroe Rabieifar
17:55 18 Sep 20
Alex and his team were my rock after I was hit by a car while riding my bike. They were able to direct me with medical care questions, advocate on my behalf with insurance companies, and really listen on days where I had pain and was completely frustrated with my insurance company and their lack of response. Highly recommend!!!!
Kelly Givens
Kelly Givens
14:47 18 Sep 20
Alex and his staff were very helpful very personable and attentive to my every question I highly recommend them and I am very happy with my service but I got from them.
joseph Olivier
joseph Olivier
00:08 16 Sep 20
Alex Casas Law firm is a great. Every time I came in contact with Mr. Casas and his staff they were always professional and friendly. My whole process was a great experience. They always return calls in a timely manner. The staff goes above and beyond what is needed. They kept me informed during the whole process. If you are looking for a great law firm and I really mean and great firm this is the place to go!!!!
Archie hopkins
Archie hopkins
18:18 28 Jul 20
Alex is a gentleman. He is kind, professional, attentive, and extremely competent. His staff is wonderful and I have no hesitation in recommendingThe office to anyone.
Helen Berg
Helen Berg
19:13 10 Jun 20
Alex always takes the time to communicate all the information about my case, until I fully understand all the details. I am extremely happy with his law firm.Andre
andre guionnaud
andre guionnaud
02:19 09 Jun 20
Alex Casas was both professional & friendly. I felt comfortable that I was going to get a good out come with Mr. Casas working for me. He kept me informed through the entire process, with a very good ending. I would use him again.
Larry Brixner
Larry Brixner
16:52 08 Jun 20
Extremly Professional and on point!
Rick Hackeman
Rick Hackeman
16:13 08 Jun 20
Alex Casas was referred to me by a friend who spoke highly of him and his work. As I met with him I quickly realized my friend was right. He was knowledgeable, personable, truthful and had my family's best interest. His compassion and patience before, during, and after my case sets him and his staff apart from other law offices. Those qualities are hard to come by. When you hire him you will find for yourself.
scott poritz
scott poritz
21:30 12 Jun 19
I was referred to Alex after being hit by a car while riding my bike. His help and guidance through a very difficult time has been a gift. I was hurt, scared, and lost as to what I needed to do. Alex was a light in a time of confusion and injury. Do not hesitate to reach out to him when you need assistance. He and his team will be there and you will be their priority.
Kelly Ann
Kelly Ann
20:14 10 Sep 18
confiabilidad y experiencia
Rolando Casas
Rolando Casas
21:03 09 Sep 18
Alex took the time needed with my family and we received the compensation we wanted! A++++
Johnny H. Meier
Johnny H. Meier
04:14 08 Sep 18
Alex is very helpful when it comes to complex issues involving someone that has been wrongfully injured by the negligence of another person or business. Thank you Alex for always being available to answer questions.
Chris Shelby
Chris Shelby
14:13 05 Sep 18
Alex is a great attorney. He is honest and caring. He treats you like family which was extremely important to me.
Bridget Ortiz
Bridget Ortiz
15:07 04 Sep 18
Alex is a wonderful attorney with great experience and work ethic. I knew that my case was in very capable hands. He did not let me down and I would strongly recommend him!
Alina Maria Margiotta
Alina Maria Margiotta
01:53 01 Sep 18
What a great lawyer and even better man. It is very comforting to know that no matter what time you call for Alex you know your call will be answered by him not some associate. He knows what he is doing and will get the job done. I would highly recommend Alex.
Renee Cicchitti
Renee Cicchitti
23:19 30 Aug 18
Alex was very hands on and knowledgeable about our case. Was able to get us fair and more compensation for the accident than expected. Thank you for being there!
johnny meier
johnny meier
15:44 24 Aug 18
Alex Casas and his firm are a great resource to individuals who have been hurt or injured by no fault of their own. He will give you honest and clear advice and direction if you have a personal injury.
Ryan Smollar
Ryan Smollar
15:28 20 Aug 18
Sabrina A
Sabrina A
13:19 20 Aug 18
Alex has helped me and my family with some major issues. He is great to work with because you are dealing directly with the attorney, not someone else. He is honest and truthful. I would refer anyone to him should the need arise for his specialty !!
Mark Elie
Mark Elie
21:12 17 Aug 18
Alex Casas is one of the finest lawyers and finest people I know. He fights for his clients. Always trying to do what is best for them. If you need a lawyer, hire Alex.
Sean Domnick
Sean Domnick
19:42 17 Aug 18
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