When your car is damaged in an accident, even after it’s repaired, its market value can drop. This loss in resale value is called diminished value. At The Guzman Firm, Miami attorney Richard Guzman helps clients recover this hidden loss through a Diminished Value Claim.
What Is a Diminished Value Claim?
A diminished value claim seeks compensation for the difference between your car’s worth before an accident and its value after repairs. Even if your vehicle looks and drives perfectly, potential buyers often pay less for a car that has an accident history.
For example, if your car was worth $25,000 before a collision and $20,000 after full repairs, the diminished value is $5,000. With legal help, you can demand that amount from the at-fault party’s insurance.
Why You Need an Attorney for Your Claim
Insurance companies rarely offer fair diminished value settlements. They often argue the loss is minor or not covered. Richard Guzman’s experience with Miami accident and property damage cases ensures that your claim includes expert valuations, detailed documentation, and negotiation with insurers to recover your full loss.
| Aspect | With Attorney (Richard Guzman) | Without Attorney |
| Claim Preparation | Professionally documented with repair reports, market data, and appraisals | Often incomplete or lacks evidence of true loss |
| Negotiation Power | Experienced legal negotiation with insurance adjusters | Limited leverage; insurers may underpay |
| Valuation Accuracy | Uses certified appraisers to prove diminished value | May rely on insurer’s lower estimate |
| Time to Resolve | Streamlined through legal process | Delays due to lack of legal knowledge |
| Payout Amount | Typically higher settlements | Minimal or denied claim |
| Stress Level | Attorney handles paperwork and disputes | You deal with adjusters directly |
| Likelihood of Success | High, with professional representation | Low, without legal expertise |
How the Process Works
- Assess the Damage – Get your vehicle repaired and keep all documentation.
- Obtain a Valuation – A professional appraisal determines your car’s pre- and post-accident value.
- File the Claim – Richard Guzman files the diminished value claim with the at-fault party’s insurance.
- Negotiate – Your attorney negotiates a fair settlement backed by evidence.
- Recover Your Loss – You receive compensation for the lost value of your vehicle.
Why Choose The Guzman Firm
Richard Guzman is a trusted Miami attorney with years of experience in property damage and insurance disputes. His firm focuses on achieving fair results for accident victims, ensuring clients are not left with the hidden financial burden of diminished value.
Contact Us Today
If your vehicle has lost value after an accident, don’t settle for less than you deserve. Contact The Guzman Firm in Miami today to discuss your Diminished Value Claim and get professional legal help protecting your financial recovery.
Diminished Value FAQs
How do I know if I qualify for a diminished value claim?
If your car was damaged by another driver and has lost resale value even after repairs, you may qualify.
Can I file a claim if I was at fault for the accident?
Typically, diminished value claims apply only if another driver was at fault.
How long do I have to file a diminished value claim in Florida?
Florida’s statute of limitations is generally four years from the date of the accident.
Do I need an appraisal for my claim?
Yes. A certified appraisal is often required to prove the amount of diminished value.
Can I still file a claim if the car is leased or financed?
Yes, though it may depend on the terms of your lease or loan. Your attorney can review your agreement.
How long does the process take?
Most claims take a few weeks to a few months, depending on the insurance company’s response.
How much does it cost to hire Richard Guzman for a diminished value claim?
Consultations are free, and most claims are handled on a contingency basis—meaning you don’t pay unless compensation is recovered.