Frame damage & Diminution in value claims in Florida?

A Diminished Value claim aims to recover the loss of the potential resale value of your car after it has been in an accident. Before your brand-new car is involved in an accident, it has a higher value than in comparison to the value of your car after it has been in an accident.   

Frame damage is some of the most severe type of a damage a vehicle can suffer. This type of damage is an indicator that the vehicle was in a high impact collision. Frame damage can completely alter the integrity of the vehicle. It also increases the depreciation rate of a vehicle. Some dealerships will not sell a frame damaged vehicle on their lot and will send any trade-in vehicles with frame damage directly to the auction. If you try to sell a vehicle with frame damage, you will likely end up selling it at a loss. 

All vehicles typically lose value after an accident especially if they have frame damage. Whether you drive a Chevrolet, BMW, Ford, Lexus, or Ferrari, your vehicle will likely lose value if it has frame damage after an accident. Even though the at-fault driver’s insurance paid for the repair of your vehicle, its resale value will still be affected. 

Have you been in an accident in Palm Beach County, Broward County, or Miami Dade County? Did you buy the car new from the dealer? Was the accident the other driver’s fault? Does your vehicle have frame damage? If you have been in an accident, you may have a claim for diminished value.  

Lost Value Law, P.A. is here to help you handle Diminished Value car insurance claims. Our goal is to recover money that you are owed. The at-fault driver’s insurance company owes you compensation for this loss in value. If you need assistance or would like a free consultation regarding a diminished value car claim, please call our office at (954) 860-0079.