This is a hard subject to explain to a lot of people.
Let me start by saying that you need to understand what is in this article before you blow your top at some insurance adjuster. There are ways around a reservation of rights defense, but you have to be stealthy and, above all, you have to remain calm.
If you have found this article, you are either an insurance adjuster doing some research or you are involved in a claim and being advised that your claim is not being paid at this time and that they are putting the claim on a “reservation of rights”.
I’m going to speak on Texas and specifically on auto insurance as Texas is my home State and auto insurance is where I have the most experience, although the reservation of rights or its equivalent exists in almost every State in the U.S. and can come about on claims that are not automobile claims.
Back in May, I saw a sad story about a filmmaker in South Africa that was killed by the head butt of a giraffe out in the bush while filming for a movie.
In my mind, I related that to how the giant insurance companies just throw around invalid denials to diminished value claims to shut down the claimant from figuring out how in the heck to fight, therefore making them give up.
Until they find us.
A while ago, 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.
Let me start by saying that some people never need an attorney, and others will always need an attorney.
Additionally, this article is based on my 15 years of claims adjusting experience. I have developed a simple little formula that will help you decide if you need an attorney or not. Keep in mind, this quiz is tailored for auto accidents only, and I make no warranties or guarantees that your result is a foolproof answer.
Ultimately, the only person that can decide if you need an attorney is you.
With that being said, simply answer the following 15 questions and then add up your answers. All of these questions are yes or no questions. Whatever answer you have the most of is your answer to the title of this article.
What should you do when you are dealing with a total loss?
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.
My friend crashed her car in a recent storm. She immediately filed a claim, however it took an adjuster 10 days to come look at her car! By this time the car had rusted in the damage area. They deemed it a total loss. Today she is dealing with an investigation. They are trying to hassle her about the damage saying because its rusty it appears to be pre-existing damage, when in fact it’s not. What should she do and why is her own insurer treating her so poorly like she’s a criminal? (more…)