Diminished Value An Option for Accident Victims

Auto accidents are a common basis for legal cases, and there are a variety of types of cases that may be filed, dependant upon the circumstances. One variety of legal case that may be filed following an auto accident is a diminished value case.

When an automobile is involved in an accident, diminished value is the difference in the vehicle’s market value before and after the accident. The owner of the vehicle in question may choose to file a diminished value claim, and while successfully doing so is not always an easy accomplishment, the owner of the vehicle is entitled to receive compensation to make up for the value lost.

Statute of Limitations

When filing a Florida diminished value claim, it’s important to understand that the statute of limitations typically begins when the damage has been sustained. If no actual damage was sustained, the statutes of limitations only begins to run once the owner discovers the problem. If the problem is discovered after the statute of limitations begins to run, then the defendant may be able to begin a lawsuit.

Vehicle Ownership

The next step is to determine the owner of the vehicle in question. An experienced Florida diminished value lawyer can help. Weinstein & Scharf, P.A. explains this step, “It is typically the case that most people assume ownership before they even make a claim. This means that the owner would still be liable for the claim. However, if you discover that you are not the owner of the vehicle, then the attorney can use other methods to try to prove that you have lost value.”

Vehicle Value

Should the loss of value of the vehicle be too little, the diminished value claim would be based on the damage sustained by the vehicle. Assuming that vehicle was damaged so as to make it unserviceable, then compensation for the loss of use may be a possibility as well.

An Experienced Attorney Makes the Difference

During a diminished value auto accident claim, an experienced attorney is a powerful ally to bring to bear. Weinstein & Scharf, P.A. is dedicated to providing expert legal representation to their clients. A quality and dedicated attorney can make all the difference, and the attorneys at Weinstein & Scharf are dedicated to meeting the needs of their clients, bringing a satisfactory resolution to every case. 

To contact Weinstein & Scharf, clients may call (954) 714-9836, or visit their website.