ATTENTION EXOTIC CAR OWNERS
If your supercar has been damaged due to the fault of another, you could be missing out on tens of thousands of dollars in compensation! Diminished Value and Loss of Use claims are two critical avenues to pursue, even if your vehicle has been repaired to perfection. Insurance companies often downplay these claims, but under Florida law, you’re entitled to much more than just repair costs.
For instance, when your vehicle has been in an accident, its value decreases simply because it now has a history of damage. Even if the repairs are flawless, a potential buyer will likely pay less for a car that’s been involved in an accident. This reduction in value is called diminished value, and Florida courts have consistently ruled in favor of plaintiffs who pursue this type of compensation. A key case, American Southern Insurance Co. v. Griggs, underscores this right, establishing that even after full repairs, a vehicle's market value may never return to its pre-accident condition. You can learn more about the court’s decision and how it applies to supercar owners in our detailed diminished value guide.
Similarly, loss of use claims are designed to compensate you for the time you’re without your supercar during repairs, even if you don’t rent a replacement vehicle. Florida courts, such as in Badillo v. Hill, have upheld that plaintiffs are entitled to compensation for the reasonable rental value of a comparable vehicle. For supercar owners, this means being compensated based on the value of your exotic vehicle, not a standard rental. Check out our complete breakdown of loss of use claims on our loss of use page to see how these claims can put substantial compensation in your pocket.
Don’t let insurance companies shortchange you—understand your rights, and take action to ensure you’re compensated fairly. Learn more from our complete supercar diminished value and loss of use blog post.
Exotic car owners, don’t leave money on the table! Call The Sheldrick Law Firm for a free consultation today and discover how you could potentially recover tens of thousands of dollars in compensation. Our legal team is available 24/7 to help you navigate your claim and maximize your recovery.
Laws may vary by state, so be sure to discuss the details with your attorney. Reach out now and let us fight for what you deserve!
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