How do I stop my insurance company from totaling my car? What are my rights?

The first rule is to take your time and investigate all your options that are legal within your state and get good legal advice before accepting any offer of settlement. Start with asking to see the actual value of comparative vehicles in your geographical area. Do not accept Kelley Blue Book or NADA values since they are not considered for total loss evaluations.

First, ask for the repair cost percentage compared to the total loss value for your truck in your state. If repair costs are usually 70%-90% of the trucks’ total value, then it is usually written off as a total loss. Always start with obtaining the total loss limits before the claims adjustor evaluates the cost of repairs. Insurance companies know these limits before they evaluate your truck and can produce the limits as a result of a third party evaluator like the CCC Information Services Group, Inc. that they hire. Also, keep up with all costs added to repair costs including the cost of a rental truck while yours was being repaired. The CCC will evaluate the cost of repairs to your truck and determine the value of similar trucks on the market in your area.
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Make sure all evaluations your claims adjustor makes are accurate or it will be a costly error on your part. Review your trucks’ options to make sure you get total credit. Then start the negotiation process and do not allow the insurance company to send you a check unless you formally agree to a settlement. Ask for the CCC Report and the insurance company must provide it (according to law). You can dispute the report and argue in detail about values overlooked or not taken into account. Also, bring up any accounting errors, conditions or attributes not given value in the original inventory of your trucks’ value.
Reserve your settlement decision until you have seen all the facts on paper and conduct a fact-finding review.
Links and Resources:
.Bad Faith Insurance LawInjury.ParrLaw.com
Indiana Insurance Claims Attorney Free No Obligation Consultation!
Wrongful Death? www.WKW.com
Vehicle Diminished ValueCollisionClaims.com/Diminished Value
Free Diminished Value Claim Review. Helping Consumers Nationwide.
Read more: How to Settle Your Vehicle Total Loss | eHow.com http://www.ehow.com/how_4618417_settle-vehicle-total-loss.html#ixzz1CAagGRlV
Total Loss eBook

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Posted in General by policywiz at January 31st, 2011.
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