
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 to 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. Unfortunately, when it comes to car accident property damage settlement with an insurance company, most people have no idea that they do not have to accept just any offer that the insurance company presents blindly.
Accepting just any offer that an insurance company says your car is worth is absolutely wrong. Every individual has the power and legal rights to negotiate and push for the amount they feel would be fair. If you were involved in a car accident and the insurance company, after the 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 could 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 they can determine the worth of your vehicle. Then, the company would compare these cars 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. Therefore, ensure that the correct information is being used to check your vehicle’s worth and 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 use to describe the conditions of various aspects of your vehicle. For example, someone working for the insurance company will 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.
You must 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
Ensure you examine the comps used in evaluating and analyzing your vehicle 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 before the damage, it suffered in the car accident, ensure that this information is well organized and presented to the insurance company. This is because some repairs can receive compensation, which also helps boost the value of your vehicle eventually.
Negotiate The Value Of Your Car
If you can complete the five steps that we have talked about in this guide, 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 documentation, lists, and reasoning are included in the letter you are writing to them. If the information you give out to the insurance company is absolutely correct, they would be left with no choice but to increase whatever they have offered you initially.
The amount that an insurance company would offer you should be based on the information you are providing them with.
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