Blog
When does the ubiquitous white cargo van need an appraisal?
An appraisal for that white cargo van may be needed in various situations such as determining its value for divorce, bankruptcy, probate, diminshed value, total loss, insurance purposes, before selling or buying it, for financing, or for taxation purposes.
Is your car repairable, or a Total Loss?
You have just been in an automobile accident and now you are wondering if your vehicle is repairable or if it’s totaled. Your body shop manager says that they are certain they can repair it, but the insurance company says they want to total it! What to do? Who do you believe? What are your options?
Total loss because of fire?
Has your vehicle been declared a total loss because of a fire? If your insurance company wants to settle for less than what you believe it's worth, invoke the Appraisal Clause in your policy, and get it appraised! Call/text 786-853-0711
Has your Jaguar been in an accident?
If your Jaguar has been in an auto accident, there are two possible outcomes: declared a Total Loss, or repaired and back on the road. Either way, you should be aware of the auto insurance industry's two biggest kept secrets: Appraisal Clause and Diminished Value. Do an internet search of both terms, and learn how you can receive a greater settlement than the insurance company is willing to pay. Call/text: 786-853-0711
Financing older cars, trucks, motorcycle and boats
If you have tried to obtain a financing loan on a vehicle, say, 10 or more years old, you may have found that the lending institution won't do so without a current fair market value appraisal. In addition to financing, we provide diminished value and prior-to-total loss appraisals. Call/text 786-853-0711 for more info.
Find out what your car was worth prior to the accident
Find out what your car was worth prior to the accident. If you have been in an accident and it has been determined that your car is a total loss, your insurance company will need to pay to replace your car.
Tim’s Automobile Total Loss Story
Tim M’s 2014 Kia Sorrento was stolen in December 2018, never to be seen again! His insurance company offered to compensate him $11,329 for his total loss. Tim felt this was less than fair market value so contacted us to help him. We advised him to inform his insurance company that he wished to invoke the ‘Appraisal Clause’ in his policy. We all have one in our policies!
So your car has been totaled: FAQs
Q: Can I keep my car if the insurance company totals it? A: Yes. After it's been declared a total loss, you have the option to keep the car. The insurance company will subtract the salvage value from the car's market value. The salvage value is the amount a salvage yard will pay for the damaged car. If you keep the car, it will have a salvage title. If it is successfully repaired or rebuilt, you can apply to transfer the salvage title to a rebuilt title. Caution! A vehicle with a rebuilt title can be difficult and/or expensive to insure. Do your homework!
Beware of Initial Insurance Claim Settlement Offers!
If you have submitted an insurance claim and feel the offer to replace your vehicle is inadequate, you’re probably right! Of all the Insurance offers we evaluate, there are only a few companies which make a reasonable offer and we can tell clients “you’re getting a decent offer.” It may be on the lower end of what the car is worth, but the cost of an appraisal isn't going to generate a sufficient return on investment.