If you were involved in a car accident in the state of Florida and weren’t at-fault, you could be eligible for a diminished value claim Florida settlement. Due to favorable case law concerning the right to recover diminished value in Florida such as McHale v. Farm Bureau Mutual Insurance Co. 409 So.2d 238 (1982) and Siegle vs. Progressive Consumer’s Insurance Company 819 So.2d 732 (Florida 2002), Florida happens to be one of the best states in the country for getting compensated for your vehicle’s loss in value due to a car accident if you weren’t at fault.
Florida law requires that once an insurer elects to repair a vehicle it must be restored to substantially the same appearance, function, and VALUE.
The Florida standard jury instructions for property damage state:
- Any damage to his, her, its (identify automobile or other personal property). The measure of such damage is:
- The difference between the value of the (name property) immediately before (incident complained of) and its value immediately afterward.
- The reasonable cost of repair, if it was practicable to repair the (name property), with due allowance for any difference between its value immediately before the (incident complained of) and its value after repair.
- You shall also take into consideration any loss to (claimant) for towing or storage charges and by being deprived of the use of his, her, its (name of property) during the period reasonably required for its replacement/repair.
The Florida department of insurance published informational bulletin 84-270 that that further supports your right to be compensated for a diminished value claim in Florida. The bulletin states:
“The responsibility of the insurance company for automobile accident damages is the substantial restoration of the automobile as to function, appearance, and value. The owner has not been properly indemnified unless there is no diminution in value of the automobile as it was before the damage and as it is after repairs.”
Based on the above legal mumbo jumbo, you’re clearly entitled to compensation for your vehicle’ loss in value, the next step is proving it and collecting it.
Diminished Value Claim Florida – How do I collect?
It’s up to you to provide diminished value proof to the at-fault driver’s insurance company and it’s essential to work with an expert who is licensed and experienced in handling diminished value claims. DVCHECK’s licensed appraisers can help you with a world class diminished value recovery process that will assist you in documenting, demanding, negotiating, and recovering your vehicle’s lost value.
You’ll receive the following:
- USPAP compliant appraisal report and demand letter documenting the pre-loss and post-repair value of your vehicle. This report will give you the evidence you will need to prove your loss to the insurance company.
- Negotiation assistance – after some insurance companies receive your demand, they may want to negotiate the settlement amount. If this happens, we’ll be there to help you negotiate with the insurance company throughout the diminished value claim Florida recovery process with phone and email support to help you maximize the amount of your recovery.
- Money Back Guarantee – when you order our diminished value appraisal report, you’ll be protected by our MONEY BACK GUARANTEE. This guarantee makes your order risk free by ensuring that your diminished value recovery will be at least equal to the cost of your report. If your diminished value recovery is less than what you paid for your report, we’ll refund 100% of the appraisal fee subject to the terms and conditions of the guarantee policy.
To learn more, please visit our website.