Diminished value · Florida

2024 Toyota 4Runner diminished value in Florida

A 2024 Toyota 4Runner with typical mileage (~27,000 mi) carries an estimated 17c diminished-value range of $992–$1,984 on a pre-accident value around $30,996. Whether you recover it in Florida depends on the deadlines and rules below.

Florida deadlines and regulator

Statute of limitations:
4 years (property damage) · 4 years (personal injury)
Regulator:
Florida Office of Insurance Regulation
Consumer line:
(850) 413-3140

Florida rules that shape a claim like this

  • Modified comparative fault — barred at 51% or more fault (as of 2023 tort reform)
  • 2-year statute of limitations for personal injury (reduced from 4 years in 2023)
  • No-fault PIP state — PIP coverage required on all policies
  • Assignment of Benefits (AOB) reform limits contractor direct claims

Florida's Office of Insurance Regulation oversees one of the most complex insurance markets in the US, particularly for property insurance due to hurricane exposure. Major tort reform in 2023 changed Florida from a pure comparative to modified comparative fault state.

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