Insurance Nightmare - A "Total Loss" 1105

Apparently, insurance company repairs as well as 'total loss' claims are lowballed as a general practice. I just read an article at www.claimsreporter.com that says that you can get on average, the ~$2K
difference needed to get a replacement ride (vs. trade-in)... for sure, if it was not your fault. Anyone got any experience with using a local 3rd party appraisal to get more $$ back?
<M@YW-I/_
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Just Getting Square wrote:

lowballed as a general practice. I just read an article at www.claimsreporter.com that says that you can get on average, the ~$2K difference needed to get a replacement ride (vs. trade-in)... for sure, if it was not your fault. Anyone got any experience with using a local 3rd party appraisal to get more $$ back?

What I want to know is WHO runs this website, and therefore then, for what reason? It's content and claims are suspicious, in that they aren't consistent nor identified with any laws which might back up any statements as factual. Aside from that, some claims made or suggested by this website, according to my attorney, just aren't valid at all. One of those, being the myth of being able to recover loss for "diminished value."
Bev
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According to SnoM**....he runs this web site...non-consistent and factual are you kidding me? I would believe what my attorney told me...they always tell the truth.

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To add, diminished value is beoing looked at by the NYS legislature but nothing has happened yet, I do believe it is valid in some states when settling a claim on a repaired vehicle, not a tl of course.

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Shep wrote:

Don't get me wrong, you invest 35k in a new silverado, you're sitting at a stop light, and a cab rear ends you doing $2,500-3K worth of damage to your 6 month old investment. The damage estimate alone requires all involved parties to file a state accident report. Who doesn't have access to a car fax report? Do you sell it or trade it in before the state has a chance to turn it over to publically available record? What prosective buyer wouldn't run one if you were offering it for sale? A dealer when you trade it in? No private party who hadn't just come out of a 20 year coma, that I know about. Are they going to buy your investment or use the car fax against you? I know I would, in fact, I'd move on even if the damage had been [minor]. Fact is, in my state, according to my attorney, I can't sue for diminished value because I am not required to disclose the accident in a sale. Unfortunately, the state does that for me. Thank you for protecting me lord and master.

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Here's the way I look at diminished value. If you repair your damaged vehicle, and the accident was not your fault, your repaired vehicle is now worth less than before the accident. That is my definition of dimished value.
That said, I was hit by an 18 wheeler that did considerable property damage to my vehicle. I elected to have my vehicle repaired. I went after the trucking company for dimished value. It took me a year to collect, but I persisted and got my $$.
My own insurance company, which helped me with the claim against the trucking company, said I would never collect. I guess I just like a challenge.
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Carfax does not list minor accidents of this nature in most all states, I am sure of that some states do not even have TL reporting, so Carfax is useless there. Run a Carfax on your truck or someone else you know that had collision damage and see what happens.

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Diminished value:
Is the cause of a shoddy repair.
None of my customers has ever claimed D/V on any of my repairs.
RK

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Refinish King, it is not the quality of repair that generates the question of diminshed value it is the fact that in some cases there is a public record of the incident which makes buyers wary and the possible issue of a trade in being worth less because there are suttle signs of body work work having been done.

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I would agree:
Only in the case of a total; ;loss, or a major collision.
4K of damage or under, are rarely ever reported, because a deer hit, 5MPH parking lot hit can generate that kind of claim.
Equifax owns CarFax, and the insurance companies rarely ever report more than a total in Pa.
Please correct me if I am misinformed.
Nice hearing from you again.
Sincerely,
RK

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Here in NYS it can be unpredictible, what is reported another than a tl . I have seen a 3,900 incident on record with Carfax on a 2003 Lesabre, it can be very inconsistent, no across the board regs state to state, New Hampshire has no tl reporting period!

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Many states don't report,
Or have a lax reporting standard. But, the fact remains that: if it's a total loss, it should be reported.
Dealers buy cars on their specific brand lane at the auctions, most truck damaged at delivery. They are not reporting to the end buyer that, their new vehicle was in fact a repair job,
I remember doing a $6500.00 job on a truck with.4 miles on it, and the dealer never told the buyer.
Thanks for your reply, and kind regards.
RK

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wrote:

Are you bucking for troll-hood too? Must be because as usual you are just looking for thing to complain about or to try to stir the pot. ----------------- TheSnoMan.com
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I agree with Snoman.
MikeG, What in this thread prompted your response?

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