Expert: Ron Cercone - 5/12/2009

Question
We have full coverage on our 1997 grand cherokee jeep just purchased in aprilof 2009, it was stolen & has been recovered,the insurance company has done an appraisal on it& has deemed it a total loss what are our rights for compensation

Answer
Hello Regina,

I could write a book to answer your very broad question. To answer your question in a small part, you have a right to a fair and timely settlement. You have a right to market value of your vehicle. You have a right not to be low balled. The argument will be whose determination of market value, yours or the insurers. Most insurers use computer generated appraisal services like CCC and ADP. Be aware that it is built into the system for most insurers to lowball the valuations and come up a little, only a little, for the squeaky wheels. When I used to work for for many insurers as an "independent" adjuster, one company adjuster once said to me "Ron, it doesn't matter if you give a car a number 2 rating (1-4, 4 being the best), we have to run them through CCC as a number 1 (the lowest).

You can Google "unfair claims practices" + your state name to find out some of your "rights" in statutory law. Getting your adjuster to follow the law is another matter. State insurance departments are more interested in fraud by the little guy than fraud by the big guy (your insurer). Why? Because we are easier targets.

If you want all the information on how to deal with lowballing as well as other issues (such as salvage) you should consider the ebook entitled "TOTAL LOSS AUTOMOBILE INSURANCE CLAIM ADVICE AND HELP - FOR INSUREDS" at UClaim.com http://www.uclaim.com/products.asp .

And don't get sucked in by the "policy appraisal provision". Umpires and arbitrators are "owned" by the insurance industry. It does not matter if you are the one doing the choosing.