Coffey Trial Law Diminished Value Info Center – Your Complete Resource on How to Claim Diminished Value of a Car

Every day thousands of car accidents take place in the United States.  While the majority of these accidents do not result in physical injuries to vehicle occupants, the cars involved in these motor vehicle crashes often sustain substantial damages. 

When your car is involved in an accident your focus is typically on getting the vehicle repaired as quickly as possible.  While you are likely to look to insurance carriers to cover the costs of your car’s repairs, you may not be aware that the insurance company may also be responsible for the diminished value of your vehicle.  If you have never heard of the term “diminished value,” put simply it is the loss of value to your vehicle as a result of being in an accident.

Chart of total property damages from vehicle accidents

Nearly 24 million vehicles were damaged in car accidents in 2010. Twenty-three percent resulted in injuries, but 77 percent sustained property damage. In 2010 car property damage exceeded $76 billion.

Because your car was damaged in a crash it has likely lost resale value.  Most buyers will pay less for your car once they find out that it has been in an accident, even if your vehicle has been professionally repaired.  In Florida, as well as in most states across the nation, insurance companies are required to compensate accident victims for their vehicle’s loss in market value - the diminished value loss of the car.

How We Can Help – Leveling the Playing Field Between Consumers and Insurance Companies

From the moment a car owner contacts the insurance company to report an accident, the insurance company will have a powerful team lawyers on their side.  These attorneys will do everything they can to ensure that the insurance company pays out the least amount of money possible to the accident victim.  In particular, insurance companies are known to hide the ball when it comes to diminished value claims.  They do not advertise that consumers have the right to recover the lost value on their vehicle. This means that unless you make a diminished value demand, your insurance company will not have to tell you about your diminished value rights or pay you anything for your vehicle’s loss in resale value. 

At Coffey Trial Law Diminished Value we have a full understanding of how insurance carriers operate and handle auto accident claims.  We are experienced diminished value attorneys who will level the playing field and work to get you full compensation for your diminished value losses. We face insurance companies every day in court and have recovered more than $100 million for clients in our legal practices*.  The insurance industry knows that we are a team of strong negotiators and accomplished trial attorneys with the skills and resources necessary to recover maximum compensation for our clients. 

Our firm has created an Info Center to give you access to important information about diminished value car claims.  The information below along with our Diminished Value E-Book is designed to provide you with general background information on diminished value claims and is not a substitute for speaking with the experienced legal professionals at our firm.

*Specific details regarding case and settlement results are not indications of the results of future cases and settlements, nor should they be held to be guarantees, warranties, or predictions regarding the result of representation by our firm.