When cars are damaged in an accident, it is not always possible to return them to the same condition they were in before the collision. In these cases, it might be possible to pursue legal action based on your car’s diminished value.
This type of legal action is possible when your vehicle is damaged by a negligent motorist but is not considered a total loss. With the help of a personal injury attorney, you might be able to seek compensation based on the reduced value of your repaired vehicle. Our Jacksonville diminished value claim lawyer can advise you on your next steps.
Our Attorneys Can Make a Diminished Value Claim on Your Behalf
Unsure how to make a diminished value claim? The good news is that you don’t have to figure it out on your own. This process can be complicated, especially if the at-fault party refuses to accept liability. However, the team at Ged Lawyers is ready to help you seek a fair value for your diminished value claim. Some of the ways we can help with your case include the following:
We Can Contact the Insurance Company
We can pursue an insurance claim with the other driver’s insurance company. In some situations, the at-fault driver will accept liability and have coverage to pay for your vehicle’s diminished value. We are often able to resolve these cases without the need for time-consuming litigation. However, the at-fault party is unlikely to agree to pay these damages if there is a dispute over liability.
In addition to the other driver’s insurance company, we could also contact your carrier. If the other driver is uninsured, we could help you file an uninsured motorist claim depending on the policy you carry.
We Can Identify the Original Value of Your Vehicle
You deserve compensation based on what your vehicle was worth in the moments preceding the accident. Even if your repaired vehicle is drivable, it is all but certain its resale value is severely diminished due to the accident.
Before you can secure compensation for a diminished value claim, you will need to know what your vehicle was worth before an accident. Our attorneys could help you understand the vehicle’s value using resources like Kelly Blue Book.
We Know the Value of Your Repaired Vehicle
There are two steps to determining what your diminished value case is worth. Ultimately, you could recover the difference between the previous and current value of your vehicle. Determining the current value of your vehicle is often a point of contention in these cases. We can have a professional appraise your vehicle to build a strong case on your behalf.
We Could File a Lawsuit
Our goal is to resolve your case with as little stress and worry on your behalf as possible. While we are often able to reach a negotiated settlement early in the process, there are times when a settlement cannot be reached. In these cases, we could file a lawsuit against the at-fault driver based on the diminished value of your vehicle. You can see the success we have had with property damage as well as personal injury lawsuits by reviewing our case results.
Determining If Your Insurance Policy Covers Diminished Vehicle Value
Since Florida is a no-fault insurance state, it is understandable to wonder if your diminished value claims might be covered by your policy. Each policy is different, but it is worth noting that the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) does not require this type of coverage. This means if you have the minimum levels of coverage allowed under the law, you are unlikely to be able to pursue a claim for diminished value.
Of course, you are not obligated to only carry the minimum coverage required by law. Many insurance companies offer policies that include things like diminished vehicle value coverage.
There are other situations where your insurance policy might pay for the diminished value of your motor vehicle. Specifically, you could be covered if you voluntarily purchased uninsured motorist (UIM) insurance. A UIM policy could allow you to recover the diminished value of your vehicle if the other driver involved in the accident was uninsured or underinsured.
What Does It Cost to Hire Our Attorney Serving Jacksonville?
The diminished value of your vehicle is only one of the financial hardships that can occur with a vehicle collision. If you were hurt in the crash, you could also face mounting medical debt, among other expenses. Given these sudden and unexpected financial challenges, it is understandable if the cost of an attorney might seem too much. It is important to understand you could pursue your diminished value claim without paying any upfront legal fees.
The attorneys at Ged Lawyers accept diminished value cases on a contingency-fee basis. By taking a case on contingency, our team agrees to pursue your claim right away without accepting any payment. Instead, we collect our legal fees after your case is settled by keeping a percentage of the settlement you receive in your case.
Thanks to the contingency-fee approach, we carry all the risks in these cases. If we are successful, you get paid without having to front any out-of-pocket legal fees.
Reach Out to Our Jacksonville Diminished Value Claim Team Today
If you are pursuing a diminished value claim, don’t wait to get started. The sooner you seek out legal counsel, the sooner we can get to work seeking the compensation you need.
The team at Ged Lawyers is ready to assist you with each stage of your diminished value claim. We have handled countless property damage claims in the past, and we understand what it takes to hold insurance companies accountable. Contact us right away to discuss your options during a free consultation.
