Overview
Learn more…Opens in new tab
The term “Diminished Value” means that cars which were damaged and subsequently repaired lose market value as a result of having a repair history.
Negligent driving causes auto accidents. If someone crashed into your car, their insurance company is liable for payment of the repair cost. They are also responsible for rental car reimbursement and something else that unknown to most consumers in Jacksonville, FL – inherent diminished value. Proper repairs do not substantially restore vehicles to their former fair market values. The measure of damages is the difference in value before the accident and after the accident plus the repair cost. Most repaired cars are worth thousands of dollars less in value with those suffering structural damage or airbag deployment losing close to half of their pre-accident values. Car owners are entitled to recover the reasonable repair costs and any residual diminution in value.
Florida courts have held that “the cost of the repairs plus the diminution in value will be the proper measure of damages, with the burden on the claimant to prove, in addition to the cost of repairs, that he suffered the additional damage of diminution of value by the vehicle having been involved in the accident. It is the responsibility of the claimant to prove the vehicles have lost value.
Whenever a motor vehicle is damaged through the negligence of a third-party without being destroyed, and if the owner can prove by a preponderance of the evidence that, if the vehicle were repaired to its pre-loss condition, its fair market value would be less than its value before it was damaged, the owner of the damaged vehicle shall be entitled to recover as additional damages an amount equal to the diminution in the value of the vehicle.
Our methodology for determining diminished value is unique within the industry. After making our determination of a car’s loss in value, we confirm our opinion by consulting with the sales managers at six local dealerships. We average their unbiased opinions to establish the vehicle’s diminished value. This proof establishes probative evidence into the existence and approximate amount of diminished value. It is this type of reporting that car owners need to convince insurance companies to make fair settlement offers. In cases that require litigation, this evidence is what is necessary to obtain a favorable judgement.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
SEARCH OUR DATABASE OF AUTO DIMINISHED VALUE REPORTS
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300. Tesla and other exotic car owners please call for rates.
Service throughout Jacksonville, Callahan, Atlantic Beach, Orange Park, Neptune Beach, Jacksonville Beach, Green Cove Springs, Fernandina Beach, St. Augustine, Ponte Vedra Beach, Gainesville, Live Oak and Yulee.
READ MORE ARTICLES…