Diminished Value – Fact or Faked? 7 Things to Look for in a Diminished Value Report

December 9, 2010Diminished Value, Insurance Claims


diminished value factsIs automobile diminished value a fact? If so, then how does one prove the exact diminished value? Is there anything fake about diminished value?


In almost every successful recovery, an expert report on diminished value is required. As an expert in diminished value, my research indicates that diminished value exists in almost every case where a vehicle has been wrecked and then repaired. Generally speaking, the lesser the value of the car is before the wreck, the lesser the diminished value is after repairs, but not always. There are many factors that should be evaluated in order to properly determine the amount of diminished value suffered by a vehicle.
 

Here are seven things you can look for to see if the report from your diminished value expert is based in fact, or if it is faked! (more…)

Will that accident affect your insurance rate?

April 22, 2010Diminished Value, Insurance Claims, Insurance Rates

So one of the most common questions I get is related to how an accident will affect insurance premiums.

If you are worried about this, then you are correct in doing so.  The answer as to how much your rate will increase is specific to the insurance company that provides your coverage.  For example, if you watch TV you’ll see advertisements from more than one insurance company that now offer “accident forgiveness”, or something of the sort.  In my opinion, this is a great marketing technique, but I would want to know how much it would have cost me to have an accident before “accident forgiveness” and then whether there is a charge to get “accident forgiveness” on your policy.  Without having those answers, how can one determine if the offer is a deal or a dud?

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Year In Review – 2009

January 6, 2010Insurance Claims

Well, it is now 2010.  Is the world gonna end in 2012 like the Mayan calendar implies?  If it does, I hope that the next two years are as fruitful as 2009.  During 2009 my family ventured into the world of business management and ownership.  It has been hard, but rewarding.  We have been able to help quite a few individuals successfully negotiate an equitable settlement in their insurance claims.  We have helped clients who had plumbing leaks that were denied multiple times by their insurance company, but Petty Details, LLC got involved and their claim was paid within 20 business days.  We have helped individuals recover as much as $5000.00 on diminished value, and we have forced many insurance companies and individuals to live up to their responsibility and do the right thing.  All in all, 2009 was a great year. 

In 2010, we hope that our name becomes more recognizable within the diminished value and claims auditing industries.  We strive to treat our customers and clients like people.  We will go out of our way to let common sense rule the day.  Politics have no place in our office and reason rules.  If it is the right thing to do, we do it.  Follow us as we grow larger and share more of our successes.  If you are a friend or family, remember that we are here if you happen to be unfortunate enough to be involved in a catastrophe, auto accident or any type of insurance claim that is causing you grief.  If you’re not a friend or family, become one!  Call us or drop us an e-mail if you have a question or just want to get some information about insurance or automobile damages.

Make the best of your 2010, we will!

Difficult Adjusters and Lawsuits

November 24, 2009Auto Accident, Diminished Value, Injury Claims, Insurance Claim Denial, Insurance Claims, Small Claims

packs-a-punch3

As a former liability adjuster, I cannot count the times that an individual threatened a lawsuit in an attempt to get more money.

I would like to make the point that adjusters are calloused to the threat of a lawsuit.  Many times, the adjuster’s ignorance is the reason they do not respond.  It is rare for an adjuster to actually be involved in the negotiation of an actual suit, so they never get real experience and hardly ever actually hear or see what the staff attorney or hired attorney does to get the suit settled.  Threatening a suit is rarely useful unless the threat is clearly credible.

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First Party Diminished Value Claims in Texas

November 7, 2009Diminished Value, Insurance Claims

first party diminished valueOkay guys listen, it is possible to file a diminished value claim against your own insurance company.

In Texas, there are still some courts that will hear a case under the collision portion of your policy, and there is at least one case in Dallas where the trial court agreed that diminished value was part of the damage calculation that should be used under the collision portion of a policy.

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Total Loss – Help Yourself on Automobile Total Losses

October 6, 2009Insurance Claims, Total Loss

total loss

I get a lot of questions about what the consumer can do to fight the insurance company when it comes to the value of their total loss.  Unfortunately, if you don’t have an adjuster’s license or some other credentials that qualify you to render an opinion on a vehicle’s value, then you are at the mercy of the insurance company.

All hope is not lost, though.

There are a few things you can do that may help you get a better settlement without spending another dime on your insurance claim.

Argue.

This may work if you make some valid arguments.  The insurance adjuster should be able to discern whether your arguments are valid or not and if they are valid, they should adjust the claim accordingly.  Make sure you have a copy of how they evaluated the value of your car and then look it over very carefully for any discrepancies in the mileage, options, or condition of your vehicle.  If there are no discrepancies, you will likely have a hard time arguing value because the value is an opinion of market worth that can only be certified by an insurance company or licensed and trained professional.

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