After an accident, you can have your car repaired, but it will likely never be the same. With the help of our team, you can claim an additional monetary loss known as a diminished value property damage claim after an accident in which you suffered severe injuries. This kind of claim permits you to receive further compensation for the loss of resale value attached to a vehicle after an accident.
Many people are unaware of this provision within Florida statutes, so working with a Palm Bay diminished value property damage car accident claims lawyer can be helpful. At the Law Offices of Anidjar & Levine, our Palm Bay car accident team has experience with diminished value property damage claims. During your free consultation, we’ll listen to your account of the accident and offer options for moving forward with a diminished value property claim.
Understanding Diminished Value Property Damage Claims
There are three general categories of diminished value relating to vehicles:
- Immediate diminished value
- Inherent diminished value
- Repair-related diminished value
Immediate diminished value is the established value right after an accident but before repairs. Inherent diminished value is the value following repairs, even when using original equipment manufacturer (OEM) parts, and the repair work is indistinguishable from an undamaged model. Repair-related diminished value refers to value lost when mechanics use non-OEM parts–when the repair is noticeable.
What Affects The Value Of A Vehicle?
Several factors are in play when assessing the diminished value of a vehicle, including:
- Age of the vehicle
- Mileage
- Previous accidents
- Location of the vehicle
Customized, luxury, or classic vehicles might be evaluated on a different scale based on the difference in their overall value. Cars in these classes tend to maintain a higher value.
Recoverable Damages After A Car Accident
Diminished value vehicle claims must be pursued as part of a personal injury case in which the victim suffered severe injuries. There are two general categories of recoverable losses in addition to property damage—economic and non-economic.
Economic losses include any expense incurred for medical treatment, car repair, and other financial losses documented with a paper trail. Non-economic losses are for areas with no evidence of monetary value. They are assigned a value based on the accident’s severity and other factors.
Car Accident Economic Losses
Some areas of economic compensation can include:
- Medical fees, such as hospitalization and surgical costs
- Medications and medical devices
- Lost income and lowered earning capacity
- Covered losses, including the diminished value of your vehicle
Your legal representative will compile the necessary documentation to include as evidence of your loss. We will also have projected future losses based on medical statements, doctor recommendations for additional treatment, and your expected ability to return to work.
Car Accident Non-Economic Losses
Areas of non-economic compensation can include:
- Mental anguish
- Pain and suffering
- Permanent scarring
- Paralysis, either partial or complete
Using a valuation model and our experience assessing previous case values, we will place a monetary value on your non-economic losses.
The Benefits Of A Law Firm That Goes The Extra Mile
Finding a Palm Bay diminished value property damage car accident claims lawyer is especially important for those who have suffered severe injuries. Most people want a responsive law firm that will handle all the details. You’ll find that and more at our firm. Some of the many tasks we will manage for you include:
- Investigating your accident
- Collecting and organizing documentation of your injuries
- Obtaining the police report
- Interviewing witnesses
- Hiring an accident reconstruction specialist, if necessary
- Working with medical personnel to understand your injuries
- Identifying the liable party and holding them accountable
- Filing all necessary paperwork
- Updating you on the progress of your case
- Negotiating with insurance companies
- Preparing a lawsuit and representing you in court, if necessary
We will provide you with contact information and a direct link to your attorney. They will be available to answer questions and discuss any concerns. We understand the challenges of presenting a diminished value property damage claim and work to provide the documentation necessary to prove your loss.
Our Contingency-Fee Pay System Works For You
We don’t ask for any upfront costs when you partner with our law firm. We offer a free consultation, listen as you tell us about your accident, and provide options for going forward.
Our team will work to resolve your case and wait until you win to collect any fees. We will collect our fees and any expenses we incur from your settlement check or court-awarded compensation. We will also discuss our contingency fee agreement in more detail during your consultation.
Meeting Deadlines For Your Case
Florida Statutes § 95.11(3)(a) permits injured victims four years to file a lawsuit for personal injury, including diminished value property damage claims. Several factors might affect this deadline. In cases where a wrongful death occurs, Florida Statutes § 95.11(4)(d) allows a two-year deadline.
It is beneficial to discuss filing deadlines with your attorney. We will ensure that you understand all applicable timetables and that we file your documentation promptly. Failure to file within the deadline may result in the dismissal of your case.
Pinpointing The Liable Party And Proving Negligence
During our investigation, we will identify the liable party. We will hold them accountable and fight for your compensation. Part of our investigation will outline the elements of negligence which prove that the at-fault driver is responsible for your losses.
The elements of negligence start with every driver’s duty of care. For example, all drivers have a responsibility to obey traffic laws and signaling devices. Drivers who disobey traffic laws, such as speeding, driving recklessly, or running a red light, are considered to have breached that duty.
Next comes causation. The driver’s negligent actions likely led to your accident. The accident resulted in physical injuries and financial losses. Evidence of these injuries and losses is the final element of demonstrating negligence. Meeting these criteria is crucial for proving the liability of the at-fault party in your lawsuit.
Why It Is Important To Include A Diminished Value Claim
Depending on the severity of damage to your car, the value loss could be a few hundred dollars to thousands of dollars. Adding a diminished value property damage claim to your personal injury lawsuit can make up that difference.
Repair services can return your car in like-new condition, but it will still lose value when you offer it for resale or try to trade it in for a new vehicle. When an accident is not your fault, you should not have to suffer the loss. A Palm Bay diminished value property damage claim can help you recoup your loss.
Start Your Palm Bay Diminished Value Property Damage Claim Today
The Law Offices of Anidjar & Levine are ready to assist you in recovering from your accident. We will do what we can to aid in your physical recovery and provide an avenue for recovery of your additional accident-related losses. Contact our car accident team today to begin your free case evaluation.
We Can Help.
