What The Insurance Company Doesn’t Tell You After You’ve Been In A Car Wreck

 

What The Insurance Company Doesn’t Tell You After You’ve Been In A Car Wreck

October 18, 2019

FInd an independent auto appraiser at Auto Appraisal Network

We all like to think that our insurance company has our best interests in mind, especially after a car accident. But the truth is that no matter how nice, helpful and friendly the agent on the phone is, their goal is to give you the absolute minimum amount for your vehicle that they possibly can.  

 

After you’ve been in a car accident, you naturally contact the insurance company, they send out an adjuster and may even cut you a check on the spot. While that all seems super easy and might be the fastest route to getting back on the road, it isn’t necessarily in your best interest to accept the amount the adjuster determines your car is worth. If you were not the at-fault driver, before accepting a check from the insurance company, you may want to consider contacting an independent car appraiser who isn’t tied to the insurance company.  

Most auto policies have a “diminished value” clause, though insurance companies aren’t likely to mention this to you. An independent appraiser will calculate something called the “diminished value” of your vehicle. Diminished value is the difference between the fair market value of your vehicle before the accident and the fair market value of it after repairs have been completed. (https://wallacepierce.com)

  

From the Insurance Information Institute website, “In all states except Michigan, if an accident is the fault of another driver, you would receive compensation for diminished value. This is because legally the third party has an obligation to make the victim of the accident “whole” again; in this case, to restore the victim’s car to its pre-accident fair market value.

 

In other words, the at-fault driver's insurer is responsible for repairing your car and for paying you the difference between the car’s resale value before the accident and after the repair. This cost is usually covered by the liability portion of his or her insurance policy.

 

If the at-fault driver is uninsured and cannot pay for repairs, receipt of payment will depend on whether you have purchased uninsured motorist’s coverage. About half of the states allow recovery for diminished value under this coverage.” Check your states’ laws to find out if you’re covered in this event. 

 

The burden of proof falls to you.  The insurance company will require you to pay for an appraisal from an independent auto appraiser.

 

Auto Appraisal Network is a nationwide franchise that can help you with these types of situations. If you’ve been in a car wreck and were not at-fault, visit us at autoappraisalnetwork.com and find an appraiser near you.  In many cases, our appraisers have helped individuals get thousands more for their vehicle than was originally offered by the insurance company.  

 

Tags

All blog car appraisal cars tires Auto insurance Safer driving Divorce appraisals Car consultant Diminished Value VIN Vehicle Identification Number Collector Cars Appraisal Clause Pre purchase inspections Vehicle Inspections Charitable Donation Total loss Prior to loss Totaled car Wrecked car Modified vehicle Extended warranty Probate Estate settlement Boat appraisals Financing Stolen vehicle Auto theft Hyundai Restomod Amelia Island Auction Nissan Cadillac Auto accident Collector car math Porsche Stolen car Ferrari Agreed value insurance RM Sotheby Monterey Ford Thunderbird Pebble Beach McLaren Mercedes Austin Car Jokes Hurricane Dorian Flood Austin Healey BringATrailer Buick Audi R8 Motorcycle appraisal Lamborghini Most Expensive Car in the World

Facebook Feed

STOLEN! One owner from new 1963 Chevrolet Impala STOLEN! One owner from new 1963 Chevrolet Impala

This one owner from new 1963 Chevrolet Impala was stolen from a car show in California! Reminder that all classic, collector and antique vehicles should have an up-to-date replacement value appraisal for their agreed value insurance policy. For auto appraisals in South Florida call/text: 786-853-0711

Motorcycle appraisals in South Florida for Pre-Purchase, Financing, Insurance Replacement Value, Total Loss or Diminished Value. Motorcycle appraisals in South Florida for Pre-Purchase, Financing, Insurance Replacement Value, Total Loss or Diminished Value.

Motorcycle appraisals in South Florida for Pre-Purchase, Financing, Insurance Replacement Value, Total Loss or Diminished Value purposes. Whatever your motorcycle appraisal needs are in South Florida, John or Tom can help. Text/call: 786-853-0711

What The Insurance Company Doesn’t Tell You After You’ve Been In A Car Wreck What The Insurance Company Doesn’t Tell You After You’ve Been In A Car Wreck

What the insurance company won't tell you after a car wreck could mean getting paid thousands less than what your vehicle is actually worth. Find out how to get paid for what your car is worth!

Total Loss 'Supercar' in South Florida. Settlement is $4.7k higher than Ins. Co. offer! Total Loss 'Supercar' in South Florida. Settlement is $4.7k higher than Ins. Co. offer!

Is the Audi R8 a 'Supercar' or not? The debate still rages! If it's 'Totaled' in an accident in South Florida the insurance company may delay, deny or underpay your claim! Be aware of the 'Appraisal Clause' in your auto insurance policy! Get a Prior-to-loss Fair Market Value Appraisal and receive full compensation. Text/call 786-853-0711 for details.

South Florida: Stolen, crashed, trashed, recovered and Total Loss, all in one day! South Florida: Stolen, crashed, trashed, recovered and Total Loss, all in one day!

The insurance company offered $8,319 for the Total Loss of this 2011 Honda Pilot. After a Total Loss appraisal, the insurance company settled for $12,000. Car damaged in an auto accident? Visit https://southfloridacarappraisers.com/

What is Diminished Value? What is Diminished Value?

If your vehicle has been in an accident, regardless of how well it has been repaired, it has suffered a loss of value, known as Diminished Value. To learn how to make a claim contact us at: call/text 786-853-0711 or johnl@autoappraisalnetwork.com

When your Insurance Company says your car is a Total Loss When your Insurance Company says your car is a Total Loss

So your Auto Insurance Company tells you your vehicle is a Total Loss! Do not accept the Insurance Company's offer to settle and compensate you for your loss! Be aware and invoke your right to the 'Appraisal Clause' in your policy!

Hurricane Dorian - vehicle flood damage Hurricane Dorian - vehicle flood damage

Vehicle flooded or damaged during Hurricane Dorian and declared a Total Loss?

Has your vehicle, of that of a friend or family, been damaged in an accident recently? Has your vehicle, of that of a friend or family, been damaged in an accident recently?

Has your vehicle, of that of a friend or family, been damaged in an accident recently? Has your insurance company declared it a Total Loss, or has it been repaired, now with Diminished Value?

Has your vehicle been damaged in an accident? Has your vehicle been damaged in an accident?

Has your vehicle been damaged in an accident? Total Loss, or repaired now with Diminished Value?

Auto Appraisal Network South Florida

Enter Your Zip Code

What The Insurance Company Doesn’t Tell You After You’ve Been In A Car Wreck