THE EDITOR: If you own a car, here are some facts for you. I have gained this knowledge over the last three years.
1. If you have an accident claim, you have four years to get it settled.
2. Under prevailing conditions, just accept the offer and move on.
3. Do not waste your money on lawyers, they won't help you.
4. If possible, the only help you might get is from a claims adjuster and it probably won't be enough.
How did I gain this knowledge?
My vehicle was damaged by another driver who apparently believed that a red traffic light meant keep going.
His insurer had a valuator decide the value of my car. His quote was somewhere in the area of less than half of what it was actually worth.
My vehicle suffered only cosmetic damage yet he decided it should be written off.
His estimate to repair my car was more than the value he put on the entire car. Does that make sense? How can two fenders, one hood, one bumper and grille and one radiator cost more than the entire vehicle when the vehicle was already equipped with those items and also had an engine, transmission, suspension, steering, brakes, seven leather seats and a lot of other goodies, too many to mention.
I sought help from five different lawyers and all I got were promises and nothing else.
I eventually found out that the court very seldom disagrees with the valuation quoted.
Here is the catch: if the valuator supplied an honest quote, certain insurance companies would not accept it and seek the services of another valuator who would supply them with a valuation they prefer. The services of the first valuator would not be used in the future.
The valuators rely on the insurance companies to keep their businesses going and in this way they have been conditioned to provide a low valuation.
There is an opposite side to this. I offer this fact in support of my statement.
I purchased a property in 1998 for $580,000 and I had a valuator assess the property in order to get ample insurance coverage. The valuator valued the property at $1,300,000. The insurance in this case is collecting, not paying.
I have to say that justice is severely lacking when it comes to insurance claims.
In a just society, in a case like mine, if the insurance company decides that my vehicle is a write-off, it should be prepared to replace it with a similar make, model and trim, instead of being allowed to get away with a pitiful, partial payment, leaving the innocent owner holding the bag.
RICHARD DEANE
Diego Martin
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