I want to be paid for my Loss.

Submitted by Anonymous (not verified) on Sat, 02/09/2008 - 23:57

If my auto is damaged its value will be lowered.

Do I have to have it repaired before an insurer will Pay for my Loss?

Posted: 10 Feb 2008 04:25 Post Subject:

I'm sure that you have to get repair and inspections done before it can be claimed. Keep in mind that if repairing it will cost more than buying the car in good condition, it'll be declared "totaled".

Posted: 10 Feb 2008 06:43 Post Subject:

Do I have to have it repaired before an insurer will Pay for my Loss?

No.

Posted: 10 Feb 2008 05:08 Post Subject: Read any policy

Can you find anywhere in any policy that requires the property to be repaired before a loss will be paid? You must prove your loss and how would you do that? Look to the terms of your policy; most of them of late, have changed the language to make insurers the experts at detemining the loss based on their investigation and use of published data, and prevailing labor rates in your area.

Of course you could challenge this by obtaining a real estimate from a reputable bodyshop not under contractual agreement with an insurer, which would most likely include procedures and parts the adjuster is either instructed not to include on their initial estimate or damage they are unqualified to repair or examine. You could be leaving a huge amount of money on the table rightfully owed to you if you do not pay an expert to examine your damage and itemize the cost to repair whether you choose to or not.

And if you are in a state that allows insurers to write policies that make them the repair experts and pay based on this procedure instead of actual losses based on a repair invoice which was determined to be both reasonable and necessary which prove your loss, good luck getting full indemnification.

How may you ask do you prove that the investigator/adjuster, contracted drp, appraiser (both independent or company employed) estimate or settlment is accurate? Well if you are in a state that still has insurers include the appraisal clause in your policy you may challenge them based on what it takes to put you back into pre-loss condition whether you repair your vehicle or not.

Even if your insurer pays based on their investigation and they have eliminated the appraisal clause, you still have other avenues. Basically, these types of policies force you to sue your insurer for proper indemnification in the event you and they disagree to the amount of the loss.

Don't bother contacting your DOI on the investigation, you'may find it to be a monumental waste of effort on your part, if you are looking for solutions. Most states have statutes that require your insurer to pay you an amount sufficient to cause your vehicle to be restored to preloss condition. If you can prove for example in a small claims court, that they did not, you may be entitled to additional indemnifaction.

If you are a third party claimant, most states require that the loss be paid to the damaged party and not include a shop or leinholder on that settlement. If you are a first party claimant, your leinholder may require you repair your vehicle if they have an outstanding lein against your property or you could use the settlement as you wish if your leinholder signs off on the draft.

The reason first party claimants must have a shop or leinholder placed on the check is that it is required in most states under the uniform commercial codes in your state's statutes designed to protect leinholders in commerce.

Oh, and in case your vehicle was damaged due to the negligence of a third party, you should be able to collect for any loss of value that you can prove that is caused by the negligent party. The insurer of this negligent person then is required to pay for the loss because they insure that party for all liabilities and damages that they cause by accident or negligence.

Posted: 11 Feb 2008 01:33 Post Subject:

If my auto is damaged its value will be lowered.
Do I have to have it repaired before an insurer will Pay for my Loss

Correct me if I'm wrong but you appear to be asking for dimished value without repairing the vehicle? If that's correct I seriously doubt you will get by with that...another thing if you are discussing diminished value many states (mine) exclude/bar diminished value on first party claims right in the policy..

If you are simply asking can you get the repair amount (estimated repair cost) and not repair your vehicle...sure you can...as explained if first party and a lein holder present they will be included on the draft....

Please explain your quandry better...ie what is year / make/model/mileage of your vehicle...amount of damage, facts of the loss, are you the insured or claimant etc...also the state the accident occured we would be in a better position to assist you with this information.....

Posted: 11 Feb 2008 05:55 Post Subject:

If my auto is damaged its value will be lowered.

Do I have to have it repaired before an insurer will Pay for my Loss



I think you missed the word "" If ""

in my query??

I've discovered over the years that what Insurance Co.'s & Agents imply when selling.... is usually different that what *is* when making a Claim. Sooo, I thought this might be a good place to get a feel for how I might be treated if an accident should occur.

Sorry if my question was not clear enough.

FK

PS, I forgot my Password so it won't let me sign in with FK. (I used the "foget you password" and I'm still waiting for a reply?? Its been about 20 minuets.

Posted: 11 Feb 2008 11:56 Post Subject: repairs

If your vehicle has a lienholder on it most insurance companies will make payment to you and the lienholder. Only if you own the vehicle outright will they pay you and it's up to you to get it repaired. Hope this helps....

Posted: 12 Feb 2008 11:52 Post Subject:

You are absolutely correct I did miss that! :oops:

I think you missed the word "" If ""

To answer you correctly now (so sorry) it depends....not all accidents would diminish the value of your vehicle...and as I said (pertaining ONLY a diminished value claim) some states prohibit first party (you) from a diminished value claim...

Now, if you have an accident that is paid by YOUR carrier (making you first party) you do not ever have to fix it...that is your call...as laid out if you have a leinholder they will (and had better be) on the draft along with yourself, less your deductible on any claims paid under your collision or comprehensive coverage...If you are third party, someone elses policy is paying you they can pay you directly (they have no contract to protect the leinholder) and again no you do not have to fix it if you don't want to...

Back to diminished value claim....some states this is a easy claim others (mine) it's not...in all cases you must prove that you indeed (after repairs) have suffered a diminishment of the value of your vehicle...

hope that explained it...let us know if not...sorry for the misunderstanding....

I get you here too by the way...

I've discovered over the years that what Insurance Co.'s & Agents imply (that little word is HUGE isn't it?) when selling.... is usually different that what *is* when making a Claim.

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