Does Insurance Have to Pay Diminished Value in Florida?
The short answer: Yes. Florida law entitles you to recover the loss in your vehicle’s market value caused by an accident — even after your car has been fully repaired. But there’s a catch: your insurance company almost certainly won’t tell you about it. And if you don’t pursue it, you’ll leave that money on the table permanently. This article explains exactly how diminished value works in Florida, who is required to pay, how much you may be owed, and what steps you need to take to recover it. Key Takeaway Under Florida law, the at-fault driver’s insurance company may compensate you for your vehicle’s diminished value. This is a legal right, and it applies even if your car looks perfect after repairs.