Diminished Value Claims in Florida

Diminished Value Claims in Florida

A car that has been in an accident is worth less solely because it has been damaged even if the car gets repaired.  This is because when given a choice, a prospective buyer will pay less for the damaged vehicle then for an identical vehicle that has not been damaged in an accident.  The law allows vehicle owners to recover this loss of value through the at-fault owner’s insurance carrier.  The measure of damages to the owner is the cost of repair and any reduction in the value to the vehicle.  These are the Florida jruy instructions on diminished value:

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.]

 

 Additionally, a vehicle owner can recover money for loss of use.  Loss of use is the inconvenience a person experiences due to not having a car.  Loss of use is measured by the amount of money required to rent a similar vehicle.  The jury instructions are as follows:

Any damage to [his] [her] [its] (identify automobile or other personal property). The measure of such damage is:

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 property) during the period reasonably required for its [replacement] [repair].

 

The statute of limitations to bring a diminished value claim is three years.  If your car has been damaged due to the negligence of another, please contact us at 561-588-2781 for a free consultation.