How Insurance Companies Work
Accidents happen and therefore a collision claim can also happen. There are many different slogans insurance companies use to make you feel as though they are your good neighbor or you’re in good hands or you can save 15% or more. In some cases, this is furthest from the truth. Even though there are some good insurance companies out there many will not live up to your expectations when you make a claim.
Unfortunately, when you make a collision claim, in essence, you are taking money out of your insurance company’s pocket. Therefore they look at you as an adversary and will automatically pay you the least that they can.
In many instances after you’ve been an accident, your vehicle will now have a diminished value. When you submit a collision claim, the insurance company does not want to compensate you for your loss of value in your vehicle. They typically won’t volunteer information regarding diminished value. If they do they will grossly underestimate the diminished value. Does your insurance company have the right to tell you the value of the vehicle? No, they just provide insurance for vehicles, they don’t sell vehicles. There are some insurance companies that will recognize diminished value only some intervention. As a consumer, you need to know your rights. Please give us a call for a free consultation to see if you qualify for diminished value after your accident.
Collision Claim – Total Loss
Facing a collision claim? If you are ever in an accident and your vehicle is totaled your insurance company will at times grossly underestimate the value of the vehicle. If this is the case what do you do? Some have told their policyholders sorry you have to take the offer. Not the truth. Once again the insurance company only insures the vehicle. They do not sell vehicles. You have the right to an independent appraisal of your vehicle. There is a provision in your policy where you have to hire an outside independent appraiser to appraise the vehicle and your insurance company should do the same. If you feel that the offer on your total vehicle was too low please give us a call. Let us look and see if they’re treating you fairly. If not we’re here to fight for you.
Note the following example of a gentleman who totaled his 2016 ram 1500 4 x 4 Laramie package. He submitted a collision claim. He was offered $22,000 for his totaled truck. Knowing that this was a low offer he contacted us. After reviewing his information and hiring us we got him an additional $6000.00.
Be sure to check out –> Total Loss Of Your Car – Don’t Settle With Your Insurance Company
On the average insurance companies offer on average thousands less than what your vehicle is worth. So before you accept an offer or if you feel as though the collision claim estimate is too low, please call us. Let us see if they are giving you what your vehicle is truly worth.