| whaap |
12-25-2012 11:45 AM |
This is going to be quite lengthy. Whether you have the time and patience to read this, I don't know but it's possible you might learn something and then again you might not.
I handled automobile insurance claims for 25 years. I retired in 1989 as an insurance claims manager. I know a lot has happened since I retired but the basics in handling claims is still the same.
Three things have to be known before it can be determined if a car is a total loss or not. One is the value of the car before the accident. Two is the cost to repair the damages caused by the accident and three is the value of the car (salvage) as it sets there now. Most often the salvage value is an unknown amount but the insurance companies have years of experience/records on what certain types of salvage will bring and they can make a pretty good guestimate. Some companies have contracts with salvage buyers that agree to pay a certain percentage of the cars original value.
I often read complaints about "this" insurance company or "that" insurance company. It's not really the company that's the problem, it's the individual adjuster handling the claim. Just like any business you can have dedicated employees that make a strong effort to do right and you have those that don't give a damn and only do enough just to slide by. If you have a good adjuster he will actually "shop" your car. After all, when he closes his file after paying you off he has to show his boss what he based his evaluation on. He will clip ads from auto trader, newspaper, etc. and scotch tape them to a sheet of paper for the file. He will talk to sales managers in the auto business and note their names, affiliation, phone numbers and what they said about the value. If a good effort is made and a good adjuster makes you what he thinks is a fair offer and you say it isn't fair "just because". How far do you think that will get you? "Gee boss, I paid the guy $300.00 more than I thought the car was worth because he said I wasn't being fair!!" Wrong. However, if you have done your homework and copied things you've found on ebay, auto trader, Craigslist, conversations you've had with salesmen in the business and taken the time to build your own file, just as he has done, you might have a valid point when you indicate he might be a little low. There's a saying in the claims business: If you ask three adjusters what a total loss is worth, you'll get three different answers. Unless you can find an "exact" replica to your car it's almost impossible to come up with a rigid, exact value on your car. Also, keep in mind that to be fair you're should be making an effort to establish the selling price which is quite often different than the asking price. Just saying here's an ad for X# of dollars doesn't mean that's what the car did or will sell for.
Getting a lawyer for a total loss is one of the most ridiculous suggestions an idiot can make. The attorney will take at least 1/3 or what ever you get and possible up to 1/2 if the case goes to trial. It doesn't take a wizard to figure out the advantages/disadvantages of that.
If you are making your claim against the other persons insurance company and you can't come to an agreement you don't have any recourse except to take their offer, take their insured to small claims court (depending on the limits in your state and the amount of your claim) or the last resort is to get an attorney. Since that cost is prohibitive sometimes you are at their mercy.
However if your claim is under your policy with your own insurance company you do have a recourse if you truly think you're being treated unfairly. This is something few people are aware of and it is a great tool. Again, it's only applicable to your own insurance company. In your state the insurance industry operates under the control of your states Insurance Commissioner. They can't blow a fart or raise your rates a dollar without first getting the approval of your states Commissioner. If you truly think your company is treating you unfairly (any insurance policy, homeowner, etc.) look them up in your phone book under state offices and call them. Their service to you is free as they are paid by our taxes. They will make an inquiry to your insurance company as to why this problem exists. Believe me, in the insurance claims business the biggest thing they do not want is an Insurance Commissioner complaint. Once they've gotten a response from your insurance company they will contact you either telling you that your insurance company has reconsidered their position or perhaps telling you that you're company is right on and you are the one that is off base.
:burnrubber:
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