You would inevitably have to deal with an insurance company if your car is involved in a car accident and got damaged. You would do this so you can recover from the loss that you have suffered and just like we all know, the insurance company would be out to pay you less for the damage done to your vehicle. When it comes to car accident property damage settlement with an insurance company, most people have no idea that they do not have to blindly accept just any offer that the insurance company presents to them.
Accepting just any offer that an insurance company says your car is worth is absolutely wrong and every individual has the power and legal rights to negotiate and push for the amount they feel would be fair to them. If you were involved in a car accident and the insurance company after inspection has labeled your car as a totaled car then you can rely on some of the useful tips that we have brought to you which would help you in negotiating for decent settlement with any insurance company.
Car Accident Property Damage Settlement
Ask For Valuation And Analysis
The first step when it comes to negotiating with any insurance company is asking the insurance company how they were able to arrive at the amount they are offering you as settlement. The truth is not every insurance company makes use of a valuation program and the essence of this program is to compare with vehicles that have been sold or vehicles that are up for sale so the worth of your vehicle can be determined. These cars would be compared to your vehicle and their value would get adjusted based on condition, mileage and other additional features.
Check Valuation Or Analysis For Accuracy
Once the insurance company presents you with their valuation or analysis, ensure that it is reviewed for accuracy. It is common for insurance companies to use wrong information when checking the vehicle of a damaged car and it is also very possible that an insurance company might not have the right model number. Ensure that the correct information is being used in checking your vehicle’s worth and also make sure that every option included is present in your vehicle. If all options are not included then list them out to the insurer.
Check The Subjective Information Given In The Valuation Or Analysis
In every analysis, there is something called the subjective component which insurance companies make use of in describing the conditions of various aspects of your vehicle. Someone working for the insurance company is going to examine the condition of the vehicle after it has been involved in a car accident and he is going to rate the condition of the vehicle. This involves analyzing the mechanical, exterior and interior parts of the vehicle. There is always the value of one to five with one rated as poor and five rated as excellent.
It is very important that you go through the insurance company’s analysis of the condition of your vehicle after the accident and make sure you prepare a list of certain areas you feel they are not right about.
Examination Of Comps Used
Make sure the comps used in evaluating and analyzing your vehicle is examined by you to ensure that they are correct. Do not rely on them regardless even if they are correct.
Get Recent Repair Records And Receipts
If recent repairs were made to your vehicle prior to the damage it suffered in the car accident, make sure that this information is well organized and presented to the insurance company. This is because some levels of repairs can receive compensation and this also helps in boosting the value of your vehicle eventually.
Negotiate The Value Of Your Car
If you are able to complete the five steps that we have talked about in this guide so then the next thing you must do is write a letter to the insurance company and tell them why you disagree with their valuation of your vehicle and why their valuation is wrong. Also ensure that the right documentations, lists and reasoning are included in the letter you are writing to them and if the information you are giving out to the insurance company is absolutely correct then they would be left with no choice but to increase whatever they have offered you initially.
The amount that any insurance company would offer you should be based on the information you are providing them with.
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