Writing Insurance Claim Dispute Letters

October 14, 2013By Justin Petty No Comments

dispute letters
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.  For the purposes of this excerpt, I will address the article’s title and focus on helping you get words down on paper (or computer screen).

This is a difficult topic to quickly and sufficiently cover, but we’ll give it a shot by focusing on general guidelines and common tactics for most insurance claims.  We’ll assume that you have sufficient language and grammatical skills to compose a demand letter that doesn’t contain glaring mistakes. (more…)

Arguments Against Diminished Value Versus The Truth

September 24, 2013By Justin Petty No Comments

Diminished Value ArgumentsRecently 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 by a professional who evaluates the market of stigma losses on automobiles.

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The Placebo Effect / How It Affects Your Diminished Value Claim!

September 18, 2013By Justin Petty No Comments

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, and not any actual physical medicine.

placebo-brain
©iStockphoto.com/ FotografiaBasica

I think this is a great example of the power of thought on the physical world.  It is at the very least, evidence that it may be possible to think healing into being.  As I was reviewing my historical records of how diminished value claims are settled, I began to think about and analyze the conversations and belief patterns of my customers as they behaved and thought about their insurance claim potential.  The placebo effect is rampant.

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Diminished Value and Kelley Blue Book

September 13, 2013By Justin Petty No Comments

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 that Kelley was not accurate, and naturally, the adjuster requested a synopsis on why I believed that using Kelley Blue Book was not a reliable method for researching inherent lost market value, or DV as it is becoming common to call it (diminished value).

I happily obliged the adjuster, and here in this blog entry, I will re-cap why I think using Kelley Blue Book (or any other online valuation guide) to calculate DV is a severely lacking and inaccurate method.

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Severity of Damage and Inherent Diminished Value

September 10, 2013By Justin Petty No Comments

auto repair

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. . .

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Texas Small Claims Court Abolished?

June 28, 2013By Justin Petty No Comments

mean-judge_616

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.

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Salvage Vehicles, Total Losses, Rebuilt / Salvage Titles, & Diminished Value

May 23, 2013By Justin Petty 4 Comments

total loss, auto appraisal

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 did not exist and to simply deny paying for it.

If asked, the main reason for denial was because it was a “stigma” claim, for which we did not legally owe (which was a lie).  The next best denial reason was that unless the vehicle sold for a loss due to the repair history, the claim was “unrealized” and there was no claim (also a lie).

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Older Vehicles Can Have Diminished Value, Can’t They?

April 30, 2013By Justin Petty No Comments

do older vehicles have diminished value
Are you joking?  YES!

Seriously, I sometimes get the feeling that some people just don’t understand how life works, and that causes them difficulty in discerning ordinarily easy facts to observe.  Our mission statement at the office is “We are here to prove that paying attention to details and doing the right thing is the key to success in business and in life.”  I understand that we can always argue semantics about what is the right thing, but this article should at least demonstrate some of how I think as well as shed some light on how to determine whether an older vehicle has any lost value due to a collision and repair that is worth pursuing.

I assume if you found my blog, you don’t need a definition of inherent lost market value, so, let’s take an older car example and go with it. . .

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How To Sue The Insurance Company Over A Wreck

September 15, 2012By Justin Petty No Comments

how to sue

I truly cannot tell you how many times a claimant threatened to sue the company when I was adjusting insurance claims.  All insurance adjuster learn pretty early on that a person will have a hard time trying to sue someone else’s insurance company for bad claims handling, so never was I ever worried when a third-party claimant threatened suit.  In fact, I hoped that they tried so they would learn a lesson.  Just the fact that they threatened it made it known to me that they had no clue how to fight with me.

Now that I am a private claims consultant, it is still one of the most common questions I get from individuals who are upset about the way they are being treated by an insurance company.  If you’ve found this article by searching the internet for “How to sue an insurance company” or some variation, then you are who I am trying to reach.  Please continue reading, the following information is 100% true.

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

December 9, 2010By Justin Petty 3 Comments


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…)