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There are two primary cases that address the notion of damages in the diminished value context.

The seminal case is that of Siegle vs. Progressive Consumer’s Insurance Company, 819 So.2d 732 (Florida 2002). The Siegle case, which was heard in front of the Supreme Court, stands for the proposition that although Florida does not recognize first party diminished value claims (meaning claims against ones own insurance company) Florida does recognize third party claims whereby a vehicle owner may seek recovery against an at-fault driver for their negligence in causing the loss of value.

In McHale vs. Farm Bureau Mutual Insurance Co. 409 So.2d 238 (1982), the Court determined that the correct measure of damages is the cost of repairplus any reduction in the value of the vehicle. The Court did put the burden of proving the reduction in value on the Plaintiff who is bringing the claim.

In Florida, the statute of limitations for collecting diminished value is three years and is measured from the date of accident.  It is important to keep in mind that the statue of limitations is the final date at which a legal proceeding may be brought against the insurance company.  What this means is that even if you are beyond the statue of limitations it still may be worth attempting to negotiate a settlement with the at fault party’s insurance company. Although your claim may fall outside of the state of limitations you have nothing to lose because the worst they can do is tell you “no”.

Keep in mind, in Florida (and virtually every other state) diminished value is only recoverable from the at-fault driver’s insurance company, not the vehicle owner’s own insurance company. Having said that, it is possible to recover diminished value from the vehicle owner’s uninsured motorist’s policy if it could be properly recovered from the at fault party had they had insurance.

Despite the insurance companies argument to the contrary, third party diminished value claims are absolutely compensable in the state of Florida. It is important to note that the Florida Supreme Court has adopted the measure of damages for diminished value in their standard jury instructions. Most lawyers will tell you that in the absence of clear case law, jury instructions are extremely helpful in determining how courts rule on various matters. The fact that insurance companies still universally deny diminution in value claims in light of this and other corroborating evidence of its existence is absolutely astounding.

Reference: http://www.diminishedvalueflorida.com/florida-diminished-value-law/

Tampa Auto Appraiser, Orlando Auto Appraiser, Miami Auto Appraiser, Jacksonville Auto Appraiser

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Electric-car maker Fisker Automotive is recalling the Karma sports sedan to fix cooling fans that can catch fire.

The recall comes after Fisker and a private fire investigation firm finished investigating an Aug. 10 fire in a Karma in Woodside, Calif.

The company said the probe found that the blaze started in front of the Karma's left front wheel where a cooling fan is located. A sealed component within the fan failed and it overheated, causing the slow-burning fire, Fisker said in a statement issued Saturday.

Fisker said the fire had nothing to do with car's lithium-ion battery or other new technology components.

"This incident resulted from a single, faulty component," Executive Chairman and co-founder Henrik Fisker said in the statement.

The recall could hurt the upstart Fisker, which has received government loan money to help develop its new technology. But the company said the fan recall is not expected to have a "material financial impact." The Karma also had to be recalled earlier this summer because coolant could leak and potentially start a fire.

Fisker dealers will contact customers, who also will get letters from the company. The Anaheim, Calif., company says cooling fans will be replaced and another fuse installed for added protection. Fisker said it is working with the company that supplied the fan.

The Karma is a $100,000 car that can go 30 to 40 miles on battery power. It has a backup gas engine if the battery is depleted. Fisker has sold just over 1,000 since last fall.


Read more: http://www.foxnews.com/us/2012/08/18/fisker-recalling-karma-sedans-to-fix-fans-that-can-catch-fire/#ixzz24Im7wgJI

Detroit Auto Appraiser, Houston Auto Appraisal, Denver Auto Appraiser, Orlando Auto Appraiser

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2013 Ford F-150 Lariat crew cab right front 1

 

The Chevrolet Silverado Hybrid may have competition from Ford and Toyota in a few years, if GM’s full-size truck hybrid survives into a second generation. Ford and Toyota engineers are developing rear-drive hybrid technology that could lead to a future F-150 hybrid, among other possible vehicles.

“The nut we’re trying to crack is: how do we do an F-150 hybrid?” said Kevin Layden, Ford director-electrification programs and engineering, to WardsAuto. “We’re working with [Toyota] and developing plans.”

2012 Toyota Tundra right front 1 300x187 image

The automakers expect the partnership to lower costs and reduce developmental time. Aside from figuring out how to make a hybrid powertrain that can handle the stresses of towing and hauling while still meeting fuel economy goals, achieving decent aerodynamics from a full-size truck is another obstacle.

Though Layden didn’t rule out the possibility of sharing a pickup or SUV platform, a project like that might depend on the success of the two vehicles that emerge from the automakers’ current collaboration. Soon, engineers from both companies will move to Ford’s new Advanced Electrification Center with advanced battery testing equipment on site. Layden believes that having Toyota and Ford engineers work together is proving beneficial.

General Motors currently offers a hybrid powertrain option on the Chevrolet Silverado 1500/GMC Sierra 1500 and Chevrolet Tahoe/GMC Yukon and Denali SUVs, using an electrically variable transmission (with two electric motors) and 300-volt nickel-metal hydride battery mated to the 6.0-liter V-8 with cylinder deactivation. The 2013 Chevrolet Silverado Hybrid is EPA-rated at 20/23 mpg city/highway in rear- or four-wheel-drive forms, higher than the Ford F-150’s most efficient performer – the rear-drive F-150 with the 3.7-liter V-6 rated at 17/23 mpg.

Read more: http://rumors.automobilemag.com/ford-may-offer-an-f-150-hybrid-from-technology-collaboration-with-toyota-163733.html#ixzz23oLQiOlu

Houston Auto Appraisal, Detroit Auto Appraiser, Denver Auto Appraiser, Chicago Auto Appraiser

By Noah Joseph

When the IRL and Champ Car reunited a few years ago, the fear among drivers from the latter series was that the calendar would remain dominated by oval speedways. But these days the resulting IndyCar Seriesraces on more street circuits and road courses than it does speedways, and soon we'll be able to add one more as the series has announced its return to Houston, Texas.

Dubbed the Grand Prix of Houston, the race – scheduled for the first week of October, 2013 – will be held on the concrete parking lots of Houston's Reliant Park adjacent to the Astrodome (where the Astros played baseball and the Oilers played football) and Reliant Stadium (where the Houston Texans football team currently plays) – the same location where Champ Car raced in 2006 and 2007.

Drivers at the time criticized the track's rough surface for its devastating effect on tire wear, something that race organizers – who've outlined plans to use the same 1.7-mile, 10-turn layout as the previous races – will have to try and fix for next year. The event will be promoted by veteran open-wheel race organizer Mike Lanigan and title sponsored by Shell and Pennzoil, who are undoubtedly as eager as the series organizers to tap into the fourth largest market in the United States.

Read More: http://www.autoblog.com/2012/03/29/indycar-series-returning-to-houston-at-reliant-parking-lot-stree/

http://www.houstonautoappraisal.com/

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Spyker Cars NV, the tiny Dutch company that bought Swedish carmaker Saab from General Motors Co. for $74 million in 2010, said Monday it is suing GM for $3 billion in damages.

Spyker, along with its now-bankrupt former Saab subsidiary, alleges that GM unfairly blocked deals that would have seen a Chinese manufacturer take over Saab production and save it from bankruptcy. It says GM feared competing with Saab in China.

"We owe it to our stakeholders and ourselves that justice is done," said Spyker CEO Victer Muller. "We tirelessly worked to save Saab Automobile until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy."

He told reporters on a conference call that the suit filed with the United States District Court of the Eastern District of Michigan could drag on for "years."

GM could not immediately be reached for comment. Business law professor Anthony Sabino of John's University said that at first glance, Spyker's suit was a long shot.

"GM is in a very strong position: all they need to do to show they were not the cause of Saab's bankruptcy is say, 'look at the recession, look at their sales figures."

But he didn't rule out that the smaller company could win on some points and GM would eventually agree to some kind of out-of-court settlement.

"It would be way less than $3 billion, and that may be all Spyker is angling for," he said.

Read more: http://www.foxnews.com/leisure/2012/08/06/spyker-sues-general-motors-for-3-billion-over-failed-saab-deal/#ixzz22nyuoDQe

houston auto appraisal, denver auto appraiser, orlando auto appraiser, seattle auto appraiser, spyker of houston

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Free Evaluation:

If you are looking to increase your insurance coverage on your vehicle, the insurance company may require you to obtain a certified auto appraisal.   If you have a custom car, truck or motorcycle, the insurance company won't pay you more than book value. Get a stated value appraisal to cover money spent customizing your vehicle.  Have a collector or exotic vehicle?  Book value does not justify the vehicle value  In case you are in an accident, have a certified auto appraisal done.  Contact us today for a Free Evaluation!

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Accident:

If you were involved in an accident and the insurance company deemed your vehicle a total loss, we can help.  If you don't agree with the insurance company's offer, you have the right to hire an independent certified appraiser to determine the actual cash value of your vehicle.  Our certified appraiser will go to the vehicle location, conduct the inspection and complete a certified total loss appraisal on your vehicle.  Total loss claims do require a negotiation phase which we will take care of for you at no additional charge!

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