More details to this question:
Luxury vehicle struck deer. Insurance company wants to total vehicle. Not giving proper diminished value. Have not provided me with a written estimate or what vehicles they have used to assess vaule. Vehicle is repairable. It should not be a total loss. When I tried to talk to claims they went down my throat and told me that is how they assess the damage and total loss by using just one company to give them that information. Any suggestions?
1 ANSWER
Insurance & Worker's Compensation Attorney serving Towson, MD
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Each insurance company has different methods for determining the value of a vehicle. If the cost to repair the vehicle is close to or exceeds the fair value of the vehicle, then the insurance company is only required to pay you the fair value of the vehicle. If you and the insurance company cannot agree on the fair value of the vehicle, you have the option to file a lawsuit and let a court decide the fair value of the vehicle. Keep in mind that litigation can be costly and can take a period of time before you actually go to trial. You also can call the Bureau of Insurance which is the state agency in Virginia which regulates insurance companies to determine if your insurance company is correctly handling your property damage claim. Good luck with this matter.
Answered on May 09th, 2013 at 6:10 PM