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Auto Insurance Claims/How does an adjustor determine value?
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Question
My daughters 4oth anniversary edition mustang was backed into by another student while my daughter was in the driving lane leaving her high school parking lot(taking out the passenger door, quarter panel, and back bumper). The student admitted fault to everyone including the police officer who wrote up the report. I talked to the student's insurance company(Nationwide) who took the information I had. They said that I didn't have to get any repair quotes and that they had a method to determine the value of repairing my car. Is this true and should I go ahead and check a car repair shop to make sure this insurance company pays enough to do the job right.
All major insurance company have staff estimators who write repair estimates all day long using industry standard estimating software. The softwar calculates standard labor times and costs of replacement parts. You can choose any repair shop. If the shop finds additional damage, they will request a supplemental estimate and Nationwide will authorize it if reasonable. This is not at all unusual and the shops know the drill.
If you choose a shop that participates in Nationwide's direct repair program, the process will be smoother and faster because Nationwide will just pay the bill without inspecting the car. They will only allow reputable shops in their program, because they do not want to deal with complaints about improper repairs.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Just want to say thank you, I feel better about this process now that I have an understanding of how it works. | ||
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Answers by Expert:
Claims Guy
Expertise
I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer......I can answer questions related to any aspect of Automobile insurance claims and coverages. I can provide an inside look at how insurers operate. I always treat my customers fairly and want to help make sure you are treated fairly. However, please keep in mind that being treated fairly according to the law does not guarantee that you will get what you want. I can also answer some questions regarding Homeowner's and other types of insurance claims. I have handled all types of auto insurance claims and coverages. I am NOT an automotive repair expert but can give advice re how insurers handle complex repair issues. Please keep in mind that every state has its own set of laws pertaining to rules of the road, liability, and insurance. No one is an expert on every state. I am most familiar with laws in Maryland, DC, West Virginia, and Virginia, but will attempt to answer questions for other states. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.
Experience
I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.
Organizations
CPCU Society. Adjusters license in multiple states. International Association of Specal Investigators
Education/Credentials
I have a B.S. in Finance and have completed the AIC and CPCU designations.
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