A tool designed for Florida motorists estimates the loss in resale value a vehicle suffers after an accident, even with proper repairs. For example, a car involved in a collision might be fully restored mechanically and cosmetically, yet its market value could still be lower than a comparable vehicle with no accident history. This difference in value represents the potential basis for a financial claim.
Accurately assessing this loss is crucial for vehicle owners seeking fair compensation after an accident. Such an assessment can empower owners to negotiate with insurance companies or pursue legal action to recover the difference. Historically, determining this loss relied on subjective appraisals. Online tools, however, provide a more accessible and potentially objective starting point for estimating this often-overlooked aspect of accident-related damages. These estimates can play a pivotal role in ensuring vehicle owners receive just compensation, covering not only repair costs but also the less tangible but equally real loss in market value.