Tesla Battery Value Issues on Total Loss Disputes

May 15, 2023By Justin Petty No Comments

I recently wrote an article where I talked about this super important issue that I’ve had countless discussions about with Tesla owners. Trust me, it’s a topic that’s been making waves because of the parts availability on Teslas that is causing repair times to drag on and there’s a buzz going on with more and more auto manufacturers diving into the Electric Vehicle market.

One thing that really caught my attention is the value of the battery on a Tesla. I’ve seen this issue pop up time and time again, and it’s something I definitely think we should dig into.

If you’re interested or dealing with this, I hope you’ll check out the entire article where I go into detail about my thoughts and opinions on this matter. I genuinely believe it’s a hot topic that deserves some serious discussion. So, click the link below to give it a read, and let’s kickstart a real conversation about how we should be handling these claims.

Thanks for taking the time to dive into this with me!

WHAT CAN YOU EXPECT FROM THE NEW CARFAX TOTAL LOSS EVALUATION THEY JUST ANNOUNCED?

June 26, 2019By Justin Petty 2 Comments

What can you expect from the new Carfax Total Loss Evaluation they just announced?

If you’re an insurance company or a dealer, then you can expect business as usual. 

If you are the owner of a vehicle that has been totaled, then my guess is that you can expect nothing good from this new tool that is aimed at insurance companies. 

Don’t be fooled; CARFAX is not going to provide private individuals with fair valuation reports on their car’s value. 

Their announcement says the product will help ADJUSTERS that are considering total-loss claims.  Yay, more help for adjusters and none for the victims, oh boy! 

There are already total loss valuation companies that partner with insurance carriers and they have been, and / or are involved in class action lawsuits about the secret way they attempt to value vehicles (think CCC, or Mitchell) which many times results in a value that is much lower than what market information actually reflects. 

The simple fact is that CARFAX is attempting to join the group of insurance partners who usurp authority on auto appraising.   Keep in mind that CARFAX is not a vehicle valuation expert, nor are they an authority on auto appraisal methodology.  They simply glean information about a vehicle’s history, and now they claim to have “History-Based Value” information. 

The more one knows about Carfax and the more experience one has with Carfax, the less that person will trust them to give accurate results.  Mark my words, the lack of transparency in valuation methodology will become increasingly evident as we see this new “CarfaxForClaims.com” portal take effect for adjusters. 

My opinion is that it is just another way for insurance companies to pretend to be fair by partnering with a company that markets itself as consumer friendly (when it really isn’t).  Look behind the big curtain in the corner folks.

Do you need help with a total loss? Is your claim against your own insurance company?

If so, we can help review and see if your case is a good candidate for invoking the appraisal clause. Fill out the form below today to get a FREE consultation with our experts on your claim!

Trouble viewing the form or missing a submit button? Here is a direct link to it: https://pettydetails.wufoo.com/forms/request-a-free-appraisal-clause-consultation/

Tesla Model S Appraisal Clause Dispute

June 12, 2019By Jennifer Petty

Tesla Model S Appraisal Clause Dispute

Are you dealing with a low offer on a total loss claim through your own insurance company?

So was Michael! His brand new 2018 Tesla Model S had less than 6K miles on it and a purchase price of $90K – he was offered $67,000….😡

He invoked the Appraisal Clause and hired Petty Details to be his appraiser on his dispute. After quite a battle, our experts got his total loss claim settled at $80,000.

Many accident victims and attorneys deal with these total losses and don’t know where to turn to find out how to fight for the value of their vehicle.

Want our expert opinion on your total loss?

If you’re dealing with a total loss claim with your own insurance company & want us to review it to find out our opinion, visit our website today & request a FREE claim consultation!

Trouble viewing the form or missing a submit button? Here is a direct link to it: https://pettydetails.wufoo.com/forms/request-a-free-appraisal-clause-consultation/

The Convoluted Appraisal Clause

April 30, 2019By Jennifer Petty

Get ready for your mind to be blown in the latest article from Justin Petty regarding the Appraisal Clause and how much it can vary from policy to policy.

appraisal clause mind blown

You will see four different versions of the appraisal clause and he’ll compare them and show you some of the differences/problems with them. He’ll also talk about how they work and how the clauses can sometimes be worded in a way that ultimately works AGAINST you, even though everyone normally assumes it was created to HELP you!

Read his opinion about these different appraisal clauses and how you might be able to deal with them if you are trying to resolve your total loss.

You might walk away with more questions than you had before – luckily, Justin is just the guy to point you in the right direction!

Appraisal Clause: Deceptive Practices by Insurance Companies

October 23, 2017By Justin Petty

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 know. 

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.

Actual Cash Value or Fair Market Value?

October 16, 2017By Justin Petty

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.

APPRAISAL CLAUSE BRINGS JUSTICE AGAIN!

July 27, 2017By Justin Petty

OFFICIAL OFFER WAS OVER $7000 LOW ON A 2006 Dodge Ram 2500 SLT

Hey guys!

 It has been quite a while since we had time to post on our blog because we’ve spent our year so far helping tons of accident victims get a fair shake when dealing with diminished value and total losses.

We’ll start today with our latest success on a little known power you have against your own insurance company (1st party claim) if you have a total loss:

THE APPRAISAL CLAUSE!

Even if you know about the appraisal clause, it doesn’t mean it will be effective for you since most insurance companies have their own idea about how the appraisal clause works (even though it is in black and white in the contract) so you have to have an experienced expert that knows the rules and how to navigate the process legally.  

We have inside knowledge that the appraisal clause is on top of everyone’s mind working inside the claims department because it is costing them a ton of money to defend the practices of their uneducated adjusters.

The requirement that appraisers and umpires be “disinterested” is something that the insurance companies purposely and habitually fail to recognize.  

The two appraisers working the claim must be totally disinterested.  Their concern should be about the TRUE VALUE of the loss.  

It isn’t YOUR SIDE VS. THEIR SIDE.  It is NO SIDE VS. NO SIDE!