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Diminished Value Claims Florida
If you’ve been in a car accident that wasn’t your fault, and the other driver’s insurance paid for the repairs to your vehicle, you can file a diminished value claim against the at fault party’s insurance.
Call Auto Praise for a free no obligaton claim review to find out how the entire process works.
We’ll let you know how much value your vehicle lost due to the accident, and will answer any questions you may have.
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Watch our video to understand diminished value
Understanding Diminished Value: Essential Insights for Vehicle Owners
Diminished value refers to the reduction in a vehicle’s market value after an accident, even after repairs are made. This concept is crucial for vehicle owners seeking fair compensation from insurance companies.
Why It Matters
Understanding diminished value helps you maximize your insurance claim and protect your investment.
Claim Process
Filing a diminished value claim can ensure you receive the compensation you deserve.
Filing a Diminished Value Claim can be straightforward if you follow the right steps. This guide will walk you through the necessary documentation and help you avoid common pitfalls.
Discover the Impact of Diminished Value Claims on Your Vehicle's Worth
Our Diminished Value Claims service has a proven track record of maximizing compensation for clients. With our expertise, you can recover significant amounts after an accident.
High average compensation recovered through our claims process.
Great success rate for our Diminished Value Claims clients.
Understanding the Diminished Value Claims Process
At Auto Praise, we simplify the Diminished Value Claims process for you. Our expert team guides you every step of the way to ensure you receive the compensation you deserve.
Step-by-Step Claim Submission Process
We begin with a thorough vehicle assessment.
Expert Evaluation and Documentation
Our specialists document your vehicle’s diminished value.
Filing Your Claim with Insurance Companies
Submit your appraisal report and demand letter to the at fault insurance company.
Florida Diminished Value Claims: The Complete Guide
What Is Diminished Value?
Diminished value refers to the loss in market value that a vehicle experiences after being involved in an accident even after it has been properly repaired.
Once a vehicle’s accident history is recorded on Carfax or AutoCheck, it is no longer considered equal in value to an identical, undamaged vehicle.
This loss in resale or trade in value is what’s known as inherent diminished value.
At Auto Praise, we specialize in professionally determining this loss through a certified diminished value appraisal.
Our reports are USPAP-compliant, detailed, and backed by decades of experience in both the mechanical and insurance industries.
Why Insurers Are Required to Pay Diminished Value in Florida
In Florida, diminished value compensation is not optional — it is a legal right under established case law.
The courts, not the insurance policy, determine that an insurer must indemnify the claimant for their full financial loss caused by an accident.
That includes not only the cost of repairs but also any loss in market value once the vehicle has been repaired.
This means that if your vehicle was damaged by another driver (a third-party claim), the at-fault party’s insurer is legally responsible for compensating you for your diminished value.
This right is supported by multiple court decisions, such as Siegle v. Progressive (2000), which established that policy language does not override the claimant’s right to full indemnification.
Who Can File for Diminished Value in Florida
Only third party claimants are eligible to recover diminished value under Florida law.
This means your vehicle was damaged by someone else who was found to be at fault.
If you caused the accident or are filing under your own insurance policy (first party claim), you generally cannot pursue diminished value unless your policy specifically allows it which is rare.
How the Property Damage Portion of an Auto Insurance Policy Works
To understand how diminished value fits into the insurance process, it helps to look at how a typical auto insurance policy allocates coverage:
- Bodily Injury Liability: Covers injuries to other people caused by your negligence.
- Property Damage Liability: Covers damage to other people’s property, including vehicles.
- Collision Coverage: Pays to repair your own vehicle if you’re at fault.
- Comprehensive Coverage: Covers non-collision losses such as theft or hail.
- Personal Injury Protection (PIP) : Covers your medical expenses, regardless of fault.
When you file a third party property damage claim, the at fault party’s insurer is responsible for all financial losses under their property damage coverage including:
- The cost of repairs to restore your vehicle to pre loss condition.
- Rental car fees or loss of use while your vehicle is being repaired.
- The diminished value that remains even after quality repairs are completed.
Florida’s minimum required property damage coverage is $10,000, though many drivers carry higher limits. If the repairs to your vehicle exceed this amount, then there is no coverage left to pay for diminished value.
Why Diminished Value Is a Valid Claim
The premise of diminished value is rooted in the doctrine of indemnity, which holds that an insurance company must restore you to the same financial position you were in before the loss occurred.
If your vehicle was worth $40,000 before the accident and is worth $35,000 after repairs, you have sustained a $5,000 loss in market value and the insurer is obligated to make you whole.
At Auto Praise, we quantify that loss using damage repair bills, market supported data from reputable sources such as Black Book, J.D. Power, Kelley Blue Book, Carfax, AutoTrader, real world market values, and trade in offers .
Our methodology reflects real world resale values, not inflated retail figures or theoretical estimates.
How the Diminished Value Process Works
The process of pursuing a diminished value claim in Florida typically follows these steps:
- Get the Vehicle Repaired. The vehicle must be repaired before the loss in value can be assessed.
- Confirm Liability. The at fault driver’s insurance company must have accepted liability for the accident.
- Obtain the Estimate of Record. Request the complete repair estimate with all supplements from the body shop.
- Submit to Auto Praise. Email the estimate and photos to Auto Praise for a free preliminary claim review.
- Certified Appraisal. We prepare a USPAP compliant diminished value appraisal report determining your loss in value.
- Submit to the Insurance Company. You send the report with a demand letter requesting compensation for the loss.
Our Credentials and Expertise
Auto Praise is led by Daryl Zelinski, an I-Car Platinum Certified Auto Physical Damage Appraiser, IACP Certified Auto Appraiser, Florida Licensed Insurance Adjuster, and ASE Master Certified Technician, with over 30 years of experience in the automotive and insurance industries.
This unique background gives us an advantage, we understand vehicles from the inside out and know how insurers calculate, negotiate, and sometimes undervalue claims.
We’ve successfully negotiated and supported hundreds of claims, including recent cases with settlements exceeding $5,600 for minor damage on late-model luxury vehicles.
Every appraisal is supported by our experience working with insurers, attorneys, and body shops across Broward and Palm Beach Counties, ensuring you receive a report that holds weight in negotiation or legal proceedings.
