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Fort Lauderdale Personal Injury Attorneys > Blog > Auto Accidents > Was Your Vehicle’s Value Diminished As A Result Of A Car Accident?

Was Your Vehicle’s Value Diminished As A Result Of A Car Accident?


Many of us rely on our vehicles to get to work, help care for family members, and run errands, which can make it especially frustrating for those whose vehicles are damaged because of someone else’s carelessness. In serious accidents, when damage is substantial, a motorist could find him or herself without a car for weeks, or with a car so damaged that it becomes unusable. Fortunately, it is possible for Florida accident victims to recover compensation for their losses, including the cost of repairing or replacing their vehicle, so if your own vehicle was damaged in a car crash, you should speak with an experienced Fort Lauderdale auto accident lawyer about your options.

Florida Car Insurance Requirements

Florida is one of only a handful of states that still adheres to a no fault standard for car accidents. Under this system, all drivers must carry at least $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability (PDL) coverage. While PIP covers the majority of the medical expenses a person incurs because of a car accident, regardless of who was actually at fault for the crash, PDL insurance works a bit differently. Whereas motorists are required to go through their own PIP policies (at least initially) after an accident to obtain reimbursement for their injuries, PDL coverage compensates other drivers for property damage caused by the policyholder.

Property Damage Liability Insurance

Motorists who are involved in car accidents because of someone else’s negligence have the right to file an insurance claim for property damage under that driver’s PDL policy. These policies typically cover the cost of repairing any damage sustained by the claimant’s vehicle. Further, this coverage also extends to situations in which a vehicle is so damaged that it is deemed totaled. In these cases, the claimant is entitled to compensation in an amount that is equal to the fair market value of the vehicle at the time of the crash. This value is based on a number of factors, including the make, model, and year of the car, as well as its mileage and condition prior to the crash.

Diminished Value

Besides paying for a claimant’s repairs, PDL insurance also covers any loss in value that the vehicle has undergone because of the crash. This is known as a diminished value claim and refers to the accident-related reduction in value of a vehicle after a crash. These types of claims are important because even when a vehicle is repaired, its fair market value almost always decreases because it was involved in a crash. For this reason, PDL coverage also applies to any difference in the value of the car from before the accident and after any repairs were completed.

Speak with Our Dedicated Legal Team About Your Case

Filing a diminished value claim requires proof that the policyholder was responsible for the accident, as well as appraisals and other evidence of the vehicle’s condition. To learn more about how to pursue a property damage claim, please call the experienced car accident lawyers at  Boone & Davis at 954-566-9919 today.



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