Auto Accidents – Critical Thinking

July 20, 2015By Justin Petty
Auto Accidents – Critical Thinking

What To Do After An Auto Accident

Advice on Dealing with an Auto Insurance 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.

GET MY 6 TIPS FOR CRITICAL CLAIM THINKING!

Choosing A Body Shop: What To Look For

February 4, 2015By Justin Petty 1 Comment


how to pick a body shop

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.

FIND OUT WHAT TO LOOK FOR

BIG Loopholes in Uninsured Motorist Claims Exposed

January 13, 2015By Justin Petty

UM claims exposed

As a veteran adjuster and automobile damage claim litigation specialist, I have seen countless claims where the at fault party is unknown.

No problem if you have uninsured motorist coverage, right?

Wrong!

Click here to read the rest of the article and find out important facts you need to know about your Uninsured/Underinsured Motorist coverage that may make you shiver in your boots!

[ut_button color=”mid-blue” target=”_self” link=”https://diminishedvalueexpert.com/diminishedvalue/dvhottopics/loopholes-um-claims-exposed/” size=”medium” title=”UM CLAIMS” ]CLICK HERE TO READ MORE ABOUT UM CLAIMS[/ut_button]

Tow Trucks, Taxis, & Rentals, Oh My! Commercial Vehicle Claims

January 6, 2015By Justin Petty

 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 . . .

Diminished value claims against commercial vehicle

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.

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Expert Answers – Fraud and Pre-Existing Damage Arguments

March 28, 2014By Jen Petty

EXPERT ANSWERS – Pre-existing Damage

Question:

expert answers

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…)

What is a CCC report?

March 24, 2014By Justin Petty 15 Comments

Total Loss and the CCC Report

First off, I just want to say that we get a lot of calls from irate folks who think we are CCC because this article pops up high in searches for CCC. We have lots of funny interactions with accident victims where the conversation starts out with a full-on blow out argument! lol

Let’s be clear – we are not CCC! We are appraisers who help consumers when they get a low valuation from companies like CCC (there are others as well). Just wanted to get that out there to set the record straight since so many folks are finding this article useful (and to prevent screaming matches and the therapy sessions that then have to follow :)).

If your vehicle has been deemed a total loss, many insurance companies will rely on a company called CCC (that is not US lol) to provide a market evaluation on the value of your vehicle to act as a settlement tool.  CCC (Certified Collateral Corporation) Information Services Inc. is a company that provides vehicle value reports to insurance companies.  They utilize their own methods and develop a value for your vehicle that is supposed to be reflective of the actual cost of a replacement vehicle in the market where your vehicle would have been sold, had it not been totaled.

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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…)

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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Total Loss – Help Yourself on Automobile Total Losses

October 6, 2009By Justin Petty No Comments

total loss

I get a lot of questions about what the consumer can do to fight the insurance company when it comes to the value of their total loss.  Unfortunately, if you don’t have an adjuster’s license or some other credentials that qualify you to render an opinion on a vehicle’s value, then you are at the mercy of the insurance company.

All hope is not lost, though.

There are a few things you can do that may help you get a better settlement without spending another dime on your insurance claim.

Argue.

This may work if you make some valid arguments.  The insurance adjuster should be able to discern whether your arguments are valid or not and if they are valid, they should adjust the claim accordingly.  Make sure you have a copy of how they evaluated the value of your car and then look it over very carefully for any discrepancies in the mileage, options, or condition of your vehicle.  If there are no discrepancies, you will likely have a hard time arguing value because the value is an opinion of market worth that can only be certified by an insurance company or licensed and trained professional.

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