Auto Insurance Claims/Property damage

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Expert: - 3/23/2010


Question
When there is no question about liability, is the defendant's insurance company responsible for paying 100% of the fair market value of the vehicle being repaired?? I am being told otherwise????

Answer
Hi Rick,

When liability is clear and is accepted 100% by the responsible persons insurance company, they are responsible for paying either the cost of repairs + rental car + diminished value. If the repair cost will exceed 75% of the value of the vehicle it will be declared a total loss in which case the insurance company is to pay the fair market value of the vehicle + sales tax.

I hope this helps
Richard Hixenbaugh

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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