How Our Client’s $5000 Success Can Lead the Way to Your Success!
Having an uninsured motorist or under-insured motorist diminished value claim (UM/UIM claim) doesn’t usually qualify for the fun list, but if you’re faced with having to deal with this type of diminished value, it pays to educate yourself about these types of claims! It paid our client $5000 to be precise!
Let’s start this article out right with the great news! We just had a client go to court in Collin County, Texas and she got a big win thanks to our appraisal, expert help and our attorney who stepped in to get that case into court! More details about that case are a few paragraphs below so keep reading!
The Norm for Uninsured Diminished Value Claims – a BIG FAT DENIAL
Believe it or not, the vast majority of insurance adjusters do not get any training on how to handle an uninsured motorist diminished value claim. In fact, insurance companies routinely refuse to pay for uninsured motorist diminished value claims and make up all kinds of excuses why they don’t owe for them. It’s just a claims handling tactic meant to deter people that don’t have much wherewithal or persistence. With just a little bit of research, you can prove to yourself that your own insurance company owes you for any inherent diminished value you sustain due to an uninsured or under-insured motorist.
The best case to cite for a Texas uninsured motorist diminished value claim is the Noteboom vs. Farmers case that you can easily find with an internet search.
Now, don’t get all excited since you now know the truth.
You can rest assured that even with the exact right answer and perfect evidence, the insurance company will balk and typically refuse to pay anything near the real diminished value amount. When that happens, you have to know how to bring your claim to a close without messing up your ability to use the court system.
How Can You Fight for Diminished Value on your Uninsured Motorist Policy?
How To Deal With A Diminished Value Claim Against A Commercial Vehicle Insurance Policy
During my auto claims career I have dealt with hundreds of claims that stemmed from the negligence of a commercial vehicle. In particular, three types of claims are most common: Claims involving rental vehicles, taxis, or small freight / towing truck companies. In most cases, if one of these commonly self-insured entities has caused you damage, then you’ll have a very difficult time recovering your damages.
Here’s an example of what you could run into . . .
I currently have a case on the books where my customer’s vehicle was damaged because a towing company failed to secure an item that was on the bed of a tow truck. The item fell off causing over $7K in damage and lost value to my client’s vehicle. The tow company’s risk manager told us that he would not pay for damages, and that my customer would have to sue. Then, he said if the customer won the suit, he still would simply never pay the judgment.
Throughout the country, individuals are realizing that they have a right to recover the inherent lost market value (diminished value) that occurs after a vehicle has been wrecked and repaired.
UPDATED JAN. 2016
There are only two states where case law does not support recovery of diminished value in a negligence cause of action. California is not one of those states. New case law in California is clear that it IS possible to recover for the diminished value of your vehicle if you are able to prove your loss. (more…)
For Arizona diminished value claims, there is case law that is exactly on point. It is a case styled “Paul Oliver v. James Henry”. A Google search will surely land you with a copy of the case, or you can request a copy directly from my office and we’ll send you the full case for free. That case law says that a vehicle owner can hire an expert appraiser to document the lost market value due to damages, and that an expert appraisal or testimony is sufficient evidence. This means that if you want to recover your Arizona diminished value claims, then the quality of your expert is really the thing that matters most.
Does that answer all your questions? I didn’t figure it did. Let’s break it down by the most frequently asked questions after learning that diminished value in Arizona is supported by law. (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, and not any actual physical medicine.
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.
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.
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.
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.
Okay, so you have run into a brick wall and can’t get justice served, right? If you live in Texas, if justice means recovering money from somebody or company that owes you $10000.00 or less, then you can probably force the issue to a head by doing a little research on the Small Claims court rules. They are located in the Texas Government Code, Chapter 28. The rules of battle are clear and simple enough for most to understand with just a little research.