South Florida Diminished Value Attorneys
After your vehicle has been in a car accident, though properly repaired, its value may have decreased. The question then becomes how much value did your car lose as a result of the accident? The difference in value between what your vehicle was worth immediately before the accident and what it is worth after the accident and after it has been properly repaired, is the amount of your vehicle’s diminished value. Some of the factors considered when determining how much value your car lost as a result of an accident include:
Make, Model, and year of your vehicle, supply and demand of your vehicle in the market place; the vehicle pre-accident value; the extent of damage done to your vehicle.
What is Diminished Value?
Diminished Value is the depreciated value of an automobile from an accident (collision). Automobiles are depreciating assets that normally decrease in value as time goes by; car accidents on the other hand, increase the normal rate of depreciation and lead to an immediate and measurable loss in value. The fact is that a wrecked and repaired vehicle will always be inferior to, and have less value than, an undamaged vehicle of the same statistics. While victims of auto accidents claim property damage, many are unaware that they may also be eligible to recover damages due to the diminishment of value of their vehicle. Vehicles involved in an accident suffer an inherent reduction in value, and sufficient repairs could not return said vehicle to its pre-accident condition or value.
How Our Diminished Value Experts Can Help
In Florida, drivers who believe their vehicle’s value has been diminished due to an accident that wasn’t their fault have three years from the date of loss to file a claim. At Lawlor | Zigler, you will find experienced diminished value attorneys to have your vehicle properly appraised and will assist with your claim to negotiate a fair settlement.
If you or a loved one has been involved in a car accident, please contact us today at 1-855-465-2889 or contact us online.. We will work diligently to protect your legal rights and to maximize your diminished value settlement. You will only pay for our services if we successfully make a recovery on your behalf.