Diminished Value Automobile Claims

What is Diminished Value?

Diminished value is the loss in fair market value of your automobile as a result of being damaged in an accident.  Even if your car has been expertly repaired it has likely worth less because most buyers will pay less for a vehicle once they learn it has been involved in a collision.  Diminished value is the insurance company’s biggest secret.  By failing to make a Diminished Value claim, you may be costing yourself thousands of dollars.  If your automobile has been damaged to due to the negligence of another driver, please contact an experienced Diminished Value law firm, like our office, to pursue your claim.

How is the value of my Diminished Value claim calculated?

The value of your Diminished Value claim is the difference between the value of the vehicle immediately before the accident and its value immediately afterward.  Lots of factors play into how much your claim is worth including:

*Amount of damage done

*Type of damage (cosmetic vs frame damage)

*Year and make of the vehicle

*Prior damage history of your vehicle.

Our office has had success collecting diminished value damages for clients.

Does my car qualify for a claim?

Use this checklist to determine if your vehicle qualifies for making a Diminished Value claim.

  • Did the accident occur in the state of Florida within the past four (4) years?
  • Was the other driver responsible for the accident?
  • Do you own the vehicle that was damaged?
  • Did the driver who hit your vehicle have insurance? (if you are unsure we can find this information out for you)

If you can answer YES to all of the above questions, then you may be eligible to make a Diminished Value claim in the state of Florida. The Law Offices of Chase R. Welt, P.A., takes Diminished Value cases on a contingency fee basis.  That means that we only get paid if you make a recovery.  Furthermore, our office advances all litigation costs and expert witness fees in presenting your case.  If there is no recovery, you do not owe us for advancing these costs.  Remember if we are unable to settle your claim or get an award at trial, then you owe us nothing.