Expert: Doctor Settlement - 4/23/2007

Question
I was in accident over 6 months ago and the other insurance company accepted liability. There were property damage and bodily injury. We are in the settlement stage of this claim.

As part of the settlement, is loss of vehicle value a valid request? Meaning as a result of the accident, my vehicle loss value in accordance with Kelley Blue Book. I can no longer claim the vehicle to be in excellent condition and the accident is reported on CarFax. This loss of value can be significant. Please advice.

Answer
Hi Lawrence,

YES, diminished value claims ARE provable in a case such as yours.  Some adjusters will try to tell you otherwise, but that is for first party claims, where you are collecting from your own company.

In third party claims, where you are collecting from the tortfeasor's company, ALL DAMAGES PROXIMATELY CAUSED BY HIS NEGLIGENCE are compensable and MUST be paid.  

Of course, this presupposes that you can gather the proof to show a diminished value claim.

Here is the best for diminished value insurance claims http://www.settlementcentral.com/page0455.htm

FAQ Expert diminished value help http://www.settlementcentral.com/page0454.htm

REMEMBER DO NOT SIMPLY MAKE A PHONE CALL.  FINAL TOPIC: Effective communication with insurance claims adjusters.  Establish Firm, Professional, and Positive Relationships With the Insurance Injury Claims Adjuster http://www.settlementcentral.com/page0059.htm

Always communicate with the adjuster in writing, showing your own analysis of value. It is OK I guess to have one call or so, but no more.   Always have your information and ammunition in writing to give to the adjuster.

Let him know that you are FIRM IN YOUR RESOLVE to get what you are demanding (NOT "asking", since that invites a counter-offer, but instead "demanding" as fair and reasonable compensation) by asking him what the options are to resolve the matter fairly should he not agree to a reasonable claim value. In other words, let him know that you will go through with a court filing if need be.

Remember these tips, do your homework, print out your evidence, show resolve to get your fair settlement, and you will DO JUST FINE.

I trust that my extra time here has produced some information that has been of value to you, and thus I would respectfully request that you take the time to locate the FEEDBACK FORM on this site and leave some feedback for me.

Best Wishes,

Dr. Settlement, J.D. (Juris Doctor)
http://www.SettlementCentral.Com