Practice Area Florida Diminished Value Claims

Car accidents cause many different types of damages, some of which are more apparent than others.  Damage to the vehicles involved is usually fairly obvious; injuries to drivers and passengers may or may not be readily apparent.  In addition to the damage caused to vehicles and their occupants, there is another type of damage that many people are not aware of… the diminishment (loss) of the value of the vehicles involved.

The diminishment in value can be minimal or significant, depending on the type of car involved.  For owners of luxury cars, the loss is often large enough to make filing a claim for compensation worthwhile.  Do you own a luxury vehicle in Florida that has been involved in a car accident that was the fault of someone else?  If so, you may qualify to make a claim for the diminished value of your luxury automobile.

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Filing a Diminished Value Claim In Florida

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Do you have a luxury vehicle in Florida that has been involved in a car accident that was someone else’s fault? If so, you may qualify to make a claim for the diminished value of your luxury car.

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A diminished value claim simply stated, is a claim for the loss of value that your car suffered because it was in an accident.  Everyone knows that despite all damage being repaired, a car that has been in an accident is worth less than it was immediately before the accident. 

With the advent of CarFax and similar services, potential buyers are fully informed of damages and resulting repairs made to a car.  A diminished value claim allows a vehicle owner to make a claim against the insurance of the at-fault party for the loss in market value due to the accident.

Who can file a diminished value claim?

While anyone whose car was damaged by another’s negligence can technically file a diminished value claim against the at-fault party’s insurance, these claims are usually filed only by owners of high-value luxury cars.  

Who cannot file a diminished value claim?

You cannot file a diminished value claim if you were at fault for the accident, if you do not have the name and insurance information of the at-fault party or if you wait longer than the statute of limitations allows (currently four years in Florida).

Does it cost money up-front to file a claim?

Diminished value claims are taken by Casas Law, P.A. on a contingency basis, meaning that there are no up-front fees or costs when your claim is filed.  Our fees and costs are paid only when we win your claim.  

Who can help me with my diminished value claim?

To see if you qualify to file a diminished value claim, contact the experienced diminished value claim attorneys at Casas Law, P.A.  During your free, no-obligation appointment, we will determine if you are eligible to file this type of claim and explain to you how the entire claim process works.

 

Florida Diminished Value Claim FAQ's

Casas Law’s team knows that what you need now is answers. Start here:

  • Q
    Can you sue for diminished value?
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    A

    Yes

  • Q
    Does Florida recognize diminished value?
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    A

    Yes

  • Q
    What is a diminished value appraisal?
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    A

    This is when a professional auto appraiser examines a vehicle after crash damage repairs have been made. That appraiser then prepares a report outlining what the market value of the vehicle should be vs. the value of the vehicle post-crash repair.

  • Q
    Is a diminished value claim worth it?
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    A

    Yes, though it makes the most sense on vehicles with a higher value

  • Q
    When should I present my diminished value claim?
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    A

    This should be presented after the crash repairs have been completed.

  • Q
    How can you prove diminished value in a car insurance claim?
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    A

    By completing an appraiser report. If brought to trial, the appraiser will utilize his research to demonstrate the diminished value.

  • Q
    How long does it take to settle a diminished value claim?
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    A

    Anywhere from 30-90 days if the insurance company is willing to enter into a settlement. If they are not, a suit is filed which can take up to 12 months to go to trial or settle.

  • Q
    Do I need a car accident lawyer to recover my diminished value?
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    A

    No, however, your claim will likely resolve faster and for a greater amount by retaining counsel.

  • Q
    How does a Florida car accident lawyer help?
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    A

    Attorneys handle all aspects of the claim reducing time spent and increasing the value of the recovery for the vehicle owner.

  • Q
    Can you claim diminished value twice?
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    A

    The technical answer is yes, however, there is a low likelihood of any recovery for a subsequent claim.

  • Q
    Who is responsible for paying your diminished value claim?
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    A

    The at-fault party is responsible and typically their insurance company will represent them as part of their property damage coverage.

  • Q
    Will my vehicle's age and mileage affect my diminished value claim?
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    A

    Yes, the diminished value is based on the market value at the time damage which is impacted by age and mileage. Classic cars are subject to a different valuation at times.

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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
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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 was a true professional and handled my case with the focus and attention it deserved. I would definitely use Casas Law again for any representation I may need again in the future.
Frank Buttaravoli
Frank Buttaravoli
17:44 25 Aug 19
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 Givens
Kelly Givens
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
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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