Most drivers and car owners focus on getting their vehicle repaired following an accident and having insurance coverage pay the bill. An important aspect of making a full recovery that many overlook is the fact that the vehicle will lose value due to the accident, even if it is repaired to a like-new condition because it is worth less than a car which has not been in a collision. This is called a “diminution” in value for the vehicle. If it resulted from an accident where another party was at fault, or partially at fault, you are entitled to damages.
In Florida, a vehicle owner can pursue a claim for diminution in value from the party whose negligence caused the accident. Usually this is done by filing a claim with their insurance company. You will need evidence of the diminution and its value, which can often be easily obtained from the repair shop, appraisers, a dealership, or some online resources. The insurance company will likely have their own assessment of the loss in value which you can negotiate over. Personal injury attorneys routinely handle these claims as part of your main claim for damages following an accident, but it is important to ensure this aspect is not being overlooked as diminished value claims can be worth thousands of dollars.
Don’t Face it Alone
Contact us to discover how we can help you to get through the difficult time after an accident. Oldham and Delcamp trial attorneys have the experience and expertise to fight for your needs and help you to reclaim your life after a slip and fall accident. We can help as your slip and fall lawyer, DUI law and auto accident attorney as well as rear-end accidents attorney, trucking accidents attorney and premises liability lawyer.
Oldham & Delcamp is a member of the Attorney’s Real Estate Council of Pinellas County, is also currently on the Board of Directors of the Pinellas County Bar Association, and is the former chair of the Real Property section.
When your freedom is on the line, you need an attorney that is aggressive, responsive, and experienced. Oldham & Delcamp is committed to making sure that each of our clients receives the personalized attention of one of our attorneys.