How is Fault Determined in an Auto Accident?

October 18, 2013By Justin Petty No Comments

fault argument

The subject of determining fault has no doubt spawned many a fist fight, and the debate on the best way to allocate fault is still alive and well.

This subject can get very complicated, but I’ll try and simplify it down to a quick study.

I have to say that negligence laws differ in each State, so I am going to generalize and speak about negligence and fault as it is addressed in the vast majority of the United States, and we’ll omit specific exceptions due to locale.  If you have a specific question about tort liability or negligence in auto accident, please seek out a competent attorney or professional.  The information presented here is not legal advice and is for informational purposes only. (more…)

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.

(more…)

Will that accident affect your insurance rate?

April 22, 2010By Justin Petty No Comments

So one of the most common questions I get is related to how an accident will affect insurance premiums.

If you are worried about this, then you are correct in doing so.  The answer as to how much your rate will increase is specific to the insurance company that provides your coverage.  For example, if you watch TV you’ll see advertisements from more than one insurance company that now offer “accident forgiveness”, or something of the sort.  In my opinion, this is a great marketing technique, but I would want to know how much it would have cost me to have an accident before “accident forgiveness” and then whether there is a charge to get “accident forgiveness” on your policy.  Without having those answers, how can one determine if the offer is a deal or a dud?

(more…)