In a professional forum for diminished value providers, we had a member inquire about how the amount of the repair bill affects the diminished value (inherent) 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.
In nearly 15 years as an adjuster, I have seen some doozies when it comes to collision repair.
Not all shops are crooks, but body shops, like any other business, are in business to make money.
Most people are not experts on collision repair, and body shops know this.
Taking your car to a body shop is sort of like going to the doctor or hiring an attorney. You kind of have to trust what the doctor or lawyer says because they are specially trained.
It is the same for a body shop, you kind of have to trust what they tell you because they are specially trained.
We get so many questions every day from people involved in an accident where their vehicle was totaled and they are now getting a low offer from the insurance company and just don’t know what to do next.
We always tell them that it is always a negotiation and that they have to fight and prove their points with the information we are revealing below today!
We put together some total loss settlement tips to get you moving in the right direction on your auto claim.
Most of us will be involved in an auto accident within our lifetimes.
This means that we are likely to have a claim with an insurance company; either our own insurance company or someone else’s insurance company.
After over 17 years of experience in the field of insurance (most as a claims adjuster), I have come to realize that the majority of the public just doesn’t get it (the claims process, that is).
Additionally, I also believe that the majority of auto claims adjusters don’t get it.
When I first began to speak with people about insurance claims over 17 years ago, the problem was not so apparent, but as more attorneys and less experienced adjusters come on the market, claimants get fed a lot of misinformation.
Just search the internet for auto accident claims help or some similar string of search words and you will quickly become confused on how to best approach getting a fair settlement on your insurance claim.
In my own opinion, the best approach is the simplest approach. As the title of this article indicates, critical thinking is the key to a successful claim negotiation.
As an adjuster who has handled almost every type of claim imaginable, I will attempt to give some pointers on critical thinking that we should all remember when we are dealing with a claim, adjusters and claimants alike.
Thomas was one of those customers that really mulled over the decision to pursue his diminished value.
He got a free claim consultation and months passed before he finally called back in ready to fight for his 2013 GMC Acadia Denali diminished value and he walked away with $4,000!
Does it really happen?
How do you know if you’re being steered?
Anderson Cooper at CNN just did a story on lawsuits that are being filed against huge insurance companies who continually dictate what is repaired on vehicles after an auto accident and this video is worth watching until the end!
If you’ve been in an automobile collision, after the initial shock and if the vehicle is not a total loss, the first thing to do is to determine where to get repairs done and get the vehicle there.
Most people simply take their vehicle to a dealer facility or a body shop that is suggested by the insurance adjuster or company. Although there are always exceptions, dealer facilities and body shops that insurance carriers suggest are not normally on the top of my list for high quality repairs. I present to you a few insider tips and questions that you should be thinking of when you select a repair facility.
The only way to remedy unethical and unfair behavior is to expose it to the entirety of victims that it affects in the hopes they will stand up to the bullies. It is a shame that those in power seem to have a propensity to abuse it (crony capitalism anyone?). To that end, I hope this article reaches many victims and their legal counsel, and that at least some of them take a stand with me and demand action from their representatives at the State.
Shane is an attorney so he was well aware that diminished value was owed to him after he was hit in his 2007 Aston Martin Vantage.
He definitely had an advantage when it came to negotiating his claim but he did rely on our knowledge and highly technical report to prove that his loss was substantial despite the fact that his luxury car was repaired perfectly by the best in Dallas.
He knew that his Aston Martin diminished value claim was going to run pretty high but he had to prove it!
Carl had an $8000 repair on his 2012 Infiniti G25 after he was rear-ended in an auto accident and he was looking for more info on Diminished Value. He couldn’t find an attorney to help him with a property damage only claim and he was stuck until an attorney helped him find us. After reviewing his claim, we formulated our opinion at around $5000 for his Infiniti diminished value claim. (more…)