Diminution of value on a Commercial Vehicle

by DAN
(TAMP FLORIDIA)

Diminution of value on a Commercial Vehicle

Does Florida Law allow Diminution of Value on a commercial vehicle

Answer:

Hello Dan,

The fact that a vehicle is commercial does not change the character (whether they are entitled to diminution of value).

You answer depends on whether you are making a first party claim or a third party claim. If you are asking for damages against your own insurance company, you probably do not have a claim. see:

In Siegle v. Progressive Consumers Ins. Co., 819 So.2d 732 (Fla. 2002), the Florida Supreme
Court found that an automobile collision policy which provides that the insurer must repair or replace the
damaged vehicle “with other of like kind and quality” does not obligate the insurer “to compensate the
insured in money for any diminution in market value after the insurer completes a first-rate repair which
returns the vehicle to its pre-accident level of performance, appearance, and function.” See also, Morrison
v. Allstate Indemnity Co., 1999 WL 817660 (M.D. Fla. 1999).


However, if you are making a third party claim (the person that cause the damage is at fault), you might have recovery. For more information, contact an attorney in your local area. To find one, please see:


http://www.auto-insurance-claim-advice.com/find-a-lawyer.html


Good Luck,
http://www.auto-insurance-claim-advice.com/