After an accident, many car owners focus on repair costs—but there’s another financial impact that’s often overlooked: the decrease in your vehicle’s market value. This reduction, known as Diminished Value, occurs even after your car is fully repaired. Fortunately, Florida law recognizes that the at-fault driver’s insurance company is responsible for covering this type of loss.
All vehicles—from Chevrolet and Ford to BMW, Lexus, and even Ferrari—can lose value after an accident. While insurance may cover repairs, your car’s resale value will still be affected. Potential buyers and dealerships typically check a vehicle’s history, and a prior accident can significantly lower the price they’re willing to pay.
A Diminished Value claim allows you to recover the difference between your car’s pre-accident value and its current value post-repair. This ensures that the at-fault party’s insurance compensates you fairly for the loss caused by their negligence.
At Lost Value Law, P.A., we specialize in helping Florida drivers recover money they are owed through diminished value claims. Our team is dedicated to guiding you through the process and maximizing your recovery. If you’ve experienced a loss in your car’s value due to an accident, contact us today for a free consultation at (954) 860-0079. Don’t settle for less—get the compensation you deserve.
Website: https://lostvaluelaw.com/
