Diminished Value
Did you know that you may be entitled to thousands of dollars for the loss in value to your vehicle, when the damage was caused by the at fault driver of the vehicle that hit you?
If your car has been damaged in a wreck, this “evidence of repairs” can negatively affect the value of your car should you ever decide to sell or refinance it in the future. This reduction in worth is known as diminished value.
Diminished value is part of the Florida Standard Civil Jury Instructions. Florida law states you may be entitled to the diminished value of your vehicle after an auto accident. The statute of limitation on diminished value claims in Florida is 4 years.
Even if your car displays no obvious damages it may still experience inherent diminished value since you may have a legal obligation to disclose to any potential purchaser of the vehicle that it has previously been involved in an accident.
A vehicle that has never been in a crash may be worth $15,000 at resale but thousands less if it has been in an accident and repaired. There’s a way to make up the difference: a diminished value claim.
Diminished value insurance claims allow car owners to recover the difference between a car’s pre-accident value and its value after repairs.
Collision Safety Consultants Of Florida Can Help
We can provide a Visual Inspection, Consultation & Opinion at no charge.
We will inspect your car and give our opinion on how much money the insurance company may owe you for your vehicle’s loss of value.
We can help show you how you can reduce your personal property tax.
We can advise you on your diminished value appraisal.
We can assure you that your car was fixed according to the manufacturers specifications, verify the correct parts were used and give you our opinion, to whether your car is safe to drive.
If we find faulty or improper repairs, we will help you get your car fixed accurately and properly to ensure your safety.
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31 Years of Handling insurance claims.
Over 120,000 claims.
Independent unbiased vehicle damage appraisers and inspectors.
Specializing in the areas of vehicle diminished value, total loss assessments and pre and post purchase collision repair inspections.
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