Total Loss Claim | Get the Real Value of Your Car
Total Loss Claim | If you have a total loss claim, then you will soon learn that insurance companies are not as “consumer friendly” as they claim in T.V. commercials. Every day we hear horrible stories about people getting offers for their total vehicle loss low as $50. The question usually asked is, is this legal? What is the process of settlement? We have written prior articles on the subject creating a lot of interest, so we decide to do your best to summarize the process and show you how you can protect your rights. The best location to find total loss claim is in Charleston, SC and Atlanta, GA.
The insurance adjuster still has the discretionary power to add or subtract certain things, for example, if they believe the car is in exceptional condition, they might add $200 to their offer. If the car has prior
damage, then they will reduce what they believe it is adequate.
Here is where the “negotiation” begins. The total vehicle loss is a negation; however we put it in quotes because it will not appear to be one. The total loss adjuster will give you an offer and tell you that it is a final offer, then cut the rental car (actually, they will cut the rental car the day they tell you to have a vehicle total loss claim, some jurisdictions allow for three days after that), and tell you that if you do not settle, then they will deduct the value of salvage of the car and send you whatever is left.
Is that legal? Yeah, it is. As long as the offer was within the “range” that CCC (or the third party company) gave and the rental regulations are within the “state law requirement”, insurance companies have the upper hand. Can you protect yourself? Yes, there are ways to defeat the above situation. You need to ask for the CCC report. This is critical. The insurance companies MUST (not optional) give it to you. They must give you the numbers they are looking at.
You can dispute this report if you believe they are not taking into account things they should be taking into account (your low mileage, for example). It is important to you do not forget about the original estimate of repair. If the insurance company is trying to make a value of your car so low, then ask them if they would fix it. If you can “pin” down what percentage do they use to declare a total vehicle loss, then you can use a reverse math approach to argue that they need to fix the car (they will not do that). The only way to truly win your total vehicle loss is by having all information in front of you. Do not settle until seeing everything. You will be surprised how many “mistakes” or how many things they “overlook” when
If you’ve been in a auto accident in the past 3 years, your insurance company probably still owes you money that you never collected! You probably weren’t told about it, but in most cases you’re entitled to collect “Diminished Value” (in addition to repairs) on your damaged vehicle…and it could be thousands of dollars! Contact us today to see if you qualify for a diminished value claim.
- South Carolina Offices: 678-794-2878
- Atlanta Offices: 404-392-4822
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