What is a Diminished Value Claim in Florida, and How We Can Help You?
You May Have the Right to Compensation for the Losses Related to the Diminished Value of a Vehicle After an Accident. The Team at Nona Legal Can Help You Evaluate a Possible Diminished Value Claim and Pursue Compensation for Your Losses.
What is a Diminished Value Claim in Florida, and How Can Nona Legal Help you?
A car accident due to another party’s negligence can lead to significant damage to your vehicle. Some insurance companies will automatically issue payment for the repair, but never tell the consumer about a possible diminished value claim. The team at Nona Legal can evaluate your case and see if you have grounds to pursue compensation under a diminished value claim.What is Diminished Value?
Diminished Value refers to the change in market value your car suffers after an accident. Often, the damage from an accident can substantially change the value of a vehicle. Even if you have your car repaired and restored, you may still face diminished value after the accident.
Diminished value can negatively impact the safety and reliability of your vehicle, decrease its anticipated life and decrease the vehicle’s resale value.
Do You Have the Grounds for a Diminished Value Claim?
Diminished value claims provide the difference between the car’s market value before the accident and its market value after the accident. Most states, including Florida, do not have laws that require an insurance company to pay out for diminished value resulting from an accident. Some policies, however, will provide coverage for the diminished value of your vehicle. The team at Nona Legal can help you evaluate a possible diminished value claim and pursue compensation for your losses.