I handle personal injury cases in Atlanta, Georgia and throughout our state. Lately I have been writing about how folks who have been involved in a wreck can settle their vehicle damage claim without having to go to the expense of hiring an attorney. Today I'm going to continue talking about how to negotiate the maximum settlement on a totaled vehicle.
Saturday, January 14, 2012
Sunday, January 8, 2012
How To Settle Your Georgia Property Damage Claim (Car or Truck Damage) WITHOUT An Attorney - Part Three
What do you do if your vehicle has been totaled in a wreck? In my current series of posts I have been blogging about the ins and outs of how to settle a property damage claim in Georgia. Today I will get into the details of how to research the value of a vehicle that is a total loss.
What I say today has no relevance to you if your vehicle can be repaired. BUT - be mindful of the fact that sometimes a vehicle that an insurance company wants to declare a total loss may be repairable. Under some circumstances you (with the aid of a knowledgeably body shop) can persuade an insurance company to repair a badly damaged vehicle rather than total it. There may be reasons you would prefer to have your car or truck fixed. How to go about persuading an insurance company is a topic for another post - today I am focusing on situations where a vehicle is beyond any hope of repairs.
The insurance company, once it has determined that your vehicle is totaled, will make you an offer. That offer usually includes the fair market value (FMV) of your vehicle (before it was totaled) plus sales tax and tags. Determining FMV is a bit of a guessing game. FMV in this context means what a willing buyer would pay a willing seller for a vehicle like yours (before it was totaled). To determine FMV insurance companies use a variety of methods, most based on research of the used car/truck market in your area. They may gather used car/truck ads for comparable vehicles and average them to arrive at FMV for your vehicle. The databases most insurance companies use to calculate FMV are proprietary (meaning they own the rights to see them and you and I are not generally going to be allowed to).
When the insurance company makes you an offer ask them if you can see the paperwork that supports their determination of FMV. Sometimes they will share this with you. If not, ask a lot of questions about how they reached their number. Focus on whether they have included all your vehicle's options and accessories. If they have failed to include a custom sound system or new tires in their evaluation that can dramatically decrease the FMV calculation.
Once you know how the insurance company has arrived at its number - do your own research. For ballpark values, go to websites like Edmunds, Kelley Blue Book, AutoTrader, and the National Automobile Dealership Association (NADA). These sites will help you research used vehicle values.
More on this topic next time.
What I say today has no relevance to you if your vehicle can be repaired. BUT - be mindful of the fact that sometimes a vehicle that an insurance company wants to declare a total loss may be repairable. Under some circumstances you (with the aid of a knowledgeably body shop) can persuade an insurance company to repair a badly damaged vehicle rather than total it. There may be reasons you would prefer to have your car or truck fixed. How to go about persuading an insurance company is a topic for another post - today I am focusing on situations where a vehicle is beyond any hope of repairs.
The insurance company, once it has determined that your vehicle is totaled, will make you an offer. That offer usually includes the fair market value (FMV) of your vehicle (before it was totaled) plus sales tax and tags. Determining FMV is a bit of a guessing game. FMV in this context means what a willing buyer would pay a willing seller for a vehicle like yours (before it was totaled). To determine FMV insurance companies use a variety of methods, most based on research of the used car/truck market in your area. They may gather used car/truck ads for comparable vehicles and average them to arrive at FMV for your vehicle. The databases most insurance companies use to calculate FMV are proprietary (meaning they own the rights to see them and you and I are not generally going to be allowed to).
When the insurance company makes you an offer ask them if you can see the paperwork that supports their determination of FMV. Sometimes they will share this with you. If not, ask a lot of questions about how they reached their number. Focus on whether they have included all your vehicle's options and accessories. If they have failed to include a custom sound system or new tires in their evaluation that can dramatically decrease the FMV calculation.
Once you know how the insurance company has arrived at its number - do your own research. For ballpark values, go to websites like Edmunds, Kelley Blue Book, AutoTrader, and the National Automobile Dealership Association (NADA). These sites will help you research used vehicle values.
More on this topic next time.
Thursday, January 5, 2012
How To Settle Your Georgia Property Damage Claim (Car or Truck Damage) WITHOUT An Attorney - Part Two
In my last post, How To Settle Your Georgia Property Damage Claim (Car or Truck Damage) WITHOUT An Attorney - Part One, I wrote that if you need to bring a property damage claim you should start the process by making sure you know which set of deep pockets to turn to - by which I meant deciding which of the insurance companies involved is going to give you the best deal on your claim.
Many times you will have a choice - present your damage claim to your own insurance company, under your collision coverage, OR present the claim to the at-fault driver's insurance company (usually referred to as the "Liability Carrier"), under the other driver's liability coverage. Which is going to be best? Well . . . that depends!
Many times you will have a choice - present your damage claim to your own insurance company, under your collision coverage, OR present the claim to the at-fault driver's insurance company (usually referred to as the "Liability Carrier"), under the other driver's liability coverage. Which is going to be best? Well . . . that depends!
Tuesday, January 3, 2012
How To Settle Your Georgia Property Damage Claim (Car or Truck Damage) WITHOUT An Attorney - Part One
I handle personal injury cases only. Most of my clients live in or around Atlanta, Georgia. I usually do not take on property damage only claims - but I often counsel my injury clients about how to settle those claims. This series of posts is for everybody, whether you were injured or not, who needs guidance on how to handle a Georgia vehicle damage claim.
Wednesday, December 21, 2011
I Want A Christian Attorney To Represent Me On My Personal Injury Case
I live and practice law in Atlanta, Georgia. My Atlanta accident law firm helps Atlanta citizens put their lives back together after the devastation of an injury. I love what I do and I do what I love! I am so thankful for the privilege of serving my clients.
Tuesday, December 20, 2011
London Scooter Safety Program Is A Great Model For Atlanta Police Departments
ScooterSafe-London is a program going on in England where experienced police officers train riders in scooter safety with the goal of reducing the number of scooter riders killed and seriously injured. I think it would be fantastic if Atlanta area police departments launched similar programs.
The program covers issues like hazard awareness, conspicuity and safety in riding equipment and clothing, and what to do in the event of a collision. The target audience is riders who operate mopeds and scooters up to 250cc.
I think Atlanta needs a vision for a transition to lighter and smaller vehicles, like scooters, motorcycles and bicycles. A program like this would fill a need to help novice riders gain the skills needed to reduce the incidence of accident and injury.
The program covers issues like hazard awareness, conspicuity and safety in riding equipment and clothing, and what to do in the event of a collision. The target audience is riders who operate mopeds and scooters up to 250cc.
I think Atlanta needs a vision for a transition to lighter and smaller vehicles, like scooters, motorcycles and bicycles. A program like this would fill a need to help novice riders gain the skills needed to reduce the incidence of accident and injury.
Monday, December 19, 2011
Atlanta Scooterists Would Benefit From Exclusive Motorcycle Lanes (EMLs)
Scootering is a passion for many in Atlanta. But most Atlanta streets were not designed with a passion for scooters. The unfortunate result of that lack of passion? Injury and death for scooterists.
Atlanta is, without a doubt, a gas-guzzling, car-loving city. But the times they are a-changin' and we would do well to have future transportation plans include alternatives for smaller vehicles like scooters.
Here is one idea that might be a partial solution - Exclusive Motorcycle Lanes (EMLs). EMLs are special lanes for small vehicles like scooters, motorcycles, and bicycles. The advantages of such lanes include a reduction in accidents (and therefore injury and death), less congestion in other lanes of travel, creation of an incentive for more people to get on their scooters and bikes, and reduction of air pollution (the more scooters we have on the road the less gas guzzling cars we have on the roads).
EMLs are found in cities across the world, London (photo above) to name one. They are more common in Asia. But they are not as of yet being taken seriously in the United States. I think they should be!
Atlanta is, without a doubt, a gas-guzzling, car-loving city. But the times they are a-changin' and we would do well to have future transportation plans include alternatives for smaller vehicles like scooters.
Here is one idea that might be a partial solution - Exclusive Motorcycle Lanes (EMLs). EMLs are special lanes for small vehicles like scooters, motorcycles, and bicycles. The advantages of such lanes include a reduction in accidents (and therefore injury and death), less congestion in other lanes of travel, creation of an incentive for more people to get on their scooters and bikes, and reduction of air pollution (the more scooters we have on the road the less gas guzzling cars we have on the roads).
EMLs are found in cities across the world, London (photo above) to name one. They are more common in Asia. But they are not as of yet being taken seriously in the United States. I think they should be!
Subscribe to:
Posts (Atom)