Q-Tips
Diminished Value of Your Vehicle

Please note: The law constantly changes, and you can’t be 100% confident in the information provided.
Feel free to call our offices with any questions:
1-800-332-1992.
The question then is, shouldn’t the insurance company pay the difference in the value of the car called the diminished value? In the State of Florida, your insurance company, or the insurance company of the person who caused the damage, is responsible for the diminished value of the car. This may vary in different states, but in Florida, the insurance company is responsible. This rule applies even if the car is only a few weeks old, but has been in an accident, and repaired to “as new” condition. When the car is traded in, you will face a disheartening diminished value appraisal of the car.
Please note: The law constantly changes, and you can’t be 100% confident in the information provided.
Feel free to call our offices with any questions:
1-800-332-1992.
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Articles on this site are not binding legal advice and are being provided for educational purposes only. Laws change constantly, so articles on this site should not be relied on when making legal decisions. For the most current information, please contact our office.