LOCATION: Fredericksburg, Virginia Norman signed up for a free claim consultation through our website after doing his own research and getting an initial offer on his BMW diminished value claim of around $3000. Hit by a drunk driver, he was having a hard time proving the amount he was owed, but he was SURE it was … Read More
One of the most common questions I get comes from customers who have been negotiating for the recovery of their lost market value and get told by an adjuster that the amount of inherent diminished value they want is only an opinion. Faced with this argument, the customer wants to know what to say. A … Read More
Tesla Model S – Diminished Value On A Rare Vehicle Recently, I was asked to review the impact a collision would have on a relatively rare vehicle, the Tesla Model S. The review was challenging because the vehicle doesn’t have many of the mechanical components that a traditional internal combustion engine vehicle has. Additionally, there … Read More
The subject of determining fault has no doubt spawned many a fist fight, and the debate on the best way to allocate fault is still alive and well. This subject can get very complicated, but I’ll try and simplify it down to a quick study. I have to say that negligence laws differ in each … Read More
If you’ve found this information, then you’ve probably been involved in an auto accident of some sort and you are seeking recovery for property damages you have incurred. It is not uncommon to have a dispute with the insurance company over your claim. Disputes most commonly occur over the dollar value a claim is worth. … Read More
Recently I was provided with a pretty big list of arguments that attempted to show why diminished market value on automobiles is not real, or at least why it is never very much. I am going to address each one, point by point so as to be very thorough. Mind you, these arguments were made … Read More
I guess most of us have heard of the placebo effect, but just in case. . . here’s my definition: Being told that a pill (you don’t know it’s just sugar) is a fix for a problem, then having the problem resolve. The healing effect due ONLY to the belief of having a healing medicine, … Read More
Recently, I had a case where an adjuster was negotiating an inherent lost market value claim based on values and condition descriptions found in Kelley Blue Book. The amount of inherent lost value that the adjuster was willing to pay was about $4k less than what my research and opinion came out to. Obviously, I argued … Read More
In a professional forum for diminished value providers, we had a member inquire about how the amount of the repair bill affects the inherent diminished value of a vehicle. It is my experience that the amount of damages is an imperative factor to have in order to accurately assess diminished value. Let’s dig right into the details. … Read More
If you don’t know what subrogation is, then this article isn’t for you. In this posting, I am speaking only of personal automobile subrogation recovery. A recent teleconference with some claims professionals made me think of this blog posting. Subrogation recovery is a difficult skill to master. There are two fundamental approaches to maximizing recovery. … Read More
Recently, the Texas legislature enacted a law that abolishes the Small Claims Court in Texas. There are a few articles on the web about it, but for the most part, nobody noticed! After researching the subject matter (thanks to Hal Monk), I found the amended rules.
In every claim I have ever handled where the vehicle was a total loss and had a salvage / rebuilt title, I was instructed to deduct 50% of it’s pre-accident value to account for the salvage / rebuilt status. Also, when I was handling claims for insurance companies, I was routinely told that diminished value … Read More