Our Practice Areas
The immediate concerns of a car accident often don’t involve thinking about re-sale value. This is true for all forms of property damage – first we think about our health, then recovering, then rebuilding or repairing. It’s only after that we are confronted with the reality that property damage also decreases the long-term value. At Injured Florida Law, we can help you claim and recover the diminished value of your property after an accident.
Understanding Diminished Value Law
The most common type of diminished value cases involve vehicles. Cars will decrease in value if they’ve been in an accident or require extensive repairs that replace original manufacturer parts – this is especially relevant for luxury vehicles repaired with non-brand components.
Following an accident, you may recover the cost of replacement, repair, or restoration of property. If the damage is permanent or the costs exceed the vehicle's value, then the damages are limited to the decrease in fair market value.
Luckily, Florida allows pursuing diminished value under the umbrella of economic damages. The relevant statutes offer some limitations to this option, and it’ll ultimately be up to your attorney to advise what is claimable and what is not.
What Can Our Team Do for You?
- Identify liable parties
- Gather and interpret the relevant evidence
- Call experts that will help assess your case the resulting damages
- Calculate the value of your losses
Do You Have a Diminished Value Case in Florida?
Our team can help you recover the fair market value of your damaged property. Get in touch today to learn more and book a consultation.
