by marleysdad1 » Wed Aug 25, 2010 11:36 pm
do insurance companies deduct the money they spent trying to see if the vehicle was a total loss or do they still have to give me the fair market value regardless
Posted: Thu Aug 26, 2010 01:29 am Post Subject:
Their expenses in determining what is owed is not part of the claim. You are paid the value of the vehicle regardless of how much money they spend to determine this.
Posted: Thu Aug 26, 2010 07:52 am Post Subject:
See, I don't think your policy papers have any such thing as deductions in terms of total loss determination. It would be up to the adjuster (based on a number of factors) to decide how much you could be compensated for. Your vehicle becomes a total loss once the repair charges equal 80% of it's ACV.
Posted: Fri Sep 10, 2010 12:52 pm Post Subject:
Definitely! It will very much be on the adjuster to decide how much you could be compensated for. Yeah, you can negotiate on the offer I guess.
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