A first party diminished value claim is an owner’s claim against his own insurance provider. The sad reality today is that after an accident, it’s almost impossible to retain the car’s pre-accident value.
As a general rule, first party diminished value claims are not recognized under Florida law.
If you suffer an accident and there is no third party at-fault driver, then you probably wouldn’t be able to recover diminished value damages in your claim.
In Florida, only third party diminished value claims are recoverable.
Despite the general prohibition against first party diminished value claims in Florida, a first party claim may be allowed in a very specific situation.
For example if your vehicle is damaged as a result of the fault of a third party driver, who is uninsured, your insurance plan you may be able to recover on a diminished value claim against your uninsured motorist policy, so long as the diminished value claim could have been reasonably asserted against the third party driver and you have uninsured motor coverage under your insurance plan.
Also a damaged caused by another person may be a legitimate diminished value claim that is worth pursuing.
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