How to recover damages for lost value to your automobile after an accident.
With increasing information available to consumers through the internet, evidence that a vehicle has been involved in an accident is usually available to car buyers today. Websites like Carfax and others will track a vehicle’s history, including the presence of any prior accidents, and that may affect the value upon resale
When faced with a choice between the purchase of a used car that has been involved in an accident and another similar vehicle that has not been in an accident, most buyers would choose the latter. Therefore, if your vehicle is damaged in an automobile accident as a result of someone else’s negligence, are you entitled to recover for this loss of value?
The good news is that Florida does recognize a valid claim for diminution of value against the negligent party and his or her insurance carrier. The Florida case of Siegle v. Progressive Insurance Company, 819 So.2d 238 (Fla. 2002) discussed this legal concept and it’s validity. While recognizing this right to claim diminution in value damages against an "at fault" party, the Court was careful to recognize that this remedy is not available against one’s own insurance company. In other words, the claim arises our of the negligence claim against the negligent party but is not a remedy available under a contract theory against your own insurance company.
Because of this distinction, it is important to pursue the property damage liability insurance carrier for the negligent party in order to recover your full measure of property damages. It is very important for you to document the full extent of the damages through photographs and / or video prior to any repairs being made. Also, in order to prove up the amount of loss in value, it may be necessary to have an expert examine and testify as to the damages.
Remember, be proactive in your efforts to document your damages so that you can recover all that the law allows when you suffer because of the negligence of another driver.
