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Dear concerned car owner,
What should you do after your car has
been in an accident? What if the repair shop you use does not have a body
repair facility, but you have called their towing company for assistance?
Insurance companies will usually allow you to transfer your vehicle from one
location to the repair facility of your choice one time at no additional
expense to you. If your car has been towed to a storage facility and you need
it towed to the repair shop, the insurance company will usually pick up the tab
for the second tow charge.
So, if you do not have a body repair shop
already picked out (which you should the day you get your new car) then you
will have a day or so to find one that you like. If your car was damaged beyond
repair (a total loss) then it really does not matter if your car is at a
storage facility or at the repair shop. The insurance company will send out a
claims adjuster to see the damage to your vehicle. If it is a total loss and
they want to settle with you:
- Be sure to agree upon a price of the claim
and get it in writing!
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Find out how much and when they will pay you
before you release your vehicle to them. KEEP your rental car until they have
paid you !
Once you sign the vehicle release, the car
belongs to them and you just lost your bargaining power. The insurance company
will have to pay storage each day your car sits on the storage lot; so your
agent will want that car removed as soon as possible. When the car is gone and
there are no storage charges accruing, the insurance company has no burning
desire to settle the claim quickly and fairly. I tell my customers not to
release their totaled vehicle to the insurance company unless they are
COMPLETLY satisfied with the settlement number they have agreed upon, and
they have a check in their hands.
You might think your insurance
company is your friend and will be on your side, and you are right as long as
you are paying them! I have seen many people get more money than the
insurance company was initially willing to allow because they were able to show
recent repair receipts, other comparable vehicles in the newspaper or on the
internet, or they just held out a day or two until the insurance company
finally compromised. Do not be unreasonable, greedy, or petty...but do
not allow them to take advantage of you either. Research the reasonable value
of the vehicle on your own and make informed decisions.
I am not out to
get insurance companies, but they do a great job of taking money over the years
and when you ask them for money once in (hopefully) 5 to 10 years, you should
be able to expect them to be fair. I get lots of thank you letters from
customers who do this and they are amazed at the fact that they don't have to
settle for what their insurance company tells them is fair.
I had one customer call me and tell me she
got well over a thousand dollars more than what the insurance company said they
would give her, just because I told her to look on the Internet for cars that
were like hers with the same mileage, etc. and get an average price. If you
just had $300 worth of tires installed and a new set of floor mats-those assets
should be added to the value as well. If you are in a rental car at
the insurance company's expense, tell them you will return it when you get
your check. This sure speeds up payment!
What if the damage was not
enough to total the vehicle and your insurance company wants it fixed, but at
their approved shop? More on this in another chapter..... Would you like to
learn more? Click on the link above to go to the site.
SIDE NOTE: Do not sign the release
until you have your settlement in writing and you are satisfied. Show
me the money!
Sincerely,

Austin C Davis
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