Total Loss Disputes
If you’ve done some Googling because of a total loss dispute with your insurance company, you probably came across information explaining your right to appraisal (also called the invoking the Appraisal Clause).
Unfortunately, because auto total loss disputes are usually less than $10,000.00, it is an area that hasn’t traditionally attracted attorneys (but there are a few attorneys that will fight for you).
In fact, because the amounts in dispute are typically under $10,000.00, most insurance companies don’t even train their claims staff about the appraisal clause.
I was an adjuster for over a decade and NOT EVEN ONCE was the appraisal clause mentioned. If you invoke the appraisal clause, you can bet that you will be dealing with a claims representative that has no clue what they are doing (if you’re an adjuster that thinks you know better, prove it).
I educate adjusters and insurance carriers every week about this little known right that their insureds have.
I’ll bet that no one has explained to you what I am about to explain . . .
First of all, the terms Actual Cash Value (ACV) and/or Fair Market Value (FMV) are sorely lacking and ambiguous when it comes to actually helping to define the value of a private passenger automobile.
In fact, the formal definition in almost every source one can find leaves out the MAIN ASPECT that would make the definition useful.
The terms ACV and FMV are so ambiguous that they are totally meaningless when it comes to figuring out the value of your vehicle.
Don’t believe me, let’s break it down.
Start with familiarizing yourself with the “formal” definitions.
Prove a point on your total loss due to flooding after Hurricane Harvey with the Appraisal Clause
If you’re a victim of the recent flooding in South Texas and have a total loss due to flooding with your carrier, you should call our office immediately and make sure that any offer you get is fair and reasonable.
Now that South Texas is dealing with the aftermath of Hurricane Harvey and Florida and Georgia brace for the impact of category 5 Hurricane Irma, victims will undoubtedly be dealing with total loss claims in exponential numbers and they need to know that insurance companies routinely handle these claims in a very dogmatic manner.
The biggest tactic is for a carrier to simply refuse to negotiate.
They will simply tell you, “take it or leave it”.
They like to claim that they do not have the authority to negotiate outside of their captive company market reports.
This is completely untrue and you can fight it.
Can you claim for the cost of a rental Car on Total Loss Claims in Texas?
Blogs are buzzing because in the recent Texas Supreme Court Case, J&D Towing LLC v. American Alternative Insurance Corporation 2016 WL 91201 (Tex. 2016), a major wrong that has been going on since before there were even cars was righted.
The Petty Details of Total Losses
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.