Car wrecks

When the insurance company low balls your diminished value claim: Texas employment attorneys

Insurance companies have responded to the growing number of claims for diminished value by low balling rather than outright rejecting the claims. Although there is still a lot of outright rejection going on. A lot of people tell me that regardless of the appraisal reflects they receive a flat $500 settlement offer. It's curious that multiple insurance companies are all offering the exact same number. Somewhere along the way the insurance companies decided that $500 represents an effective settlement offer to combat diminished value claims. Insurance companies are very good at using settlement offers to avoid litigation. They are very good at managing...

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Why insurance companies don’t care about your diminished value claim: Texas lawyer explains

I receive many calls and emails each week regarding diminished value claims. Almost every time, the story is the same. Although the other driver caused the wreck, the insurance company refuses any discussion of a diminished value claim. The person might pursue a few hundred dollars all the way up to tens of thousands of dollars. Regardless of the amount, the insurance companies usually pitch the same handful of responses like, "we don't pay on diminished value" or "Texas law doesn't entitle you to diminished value." Insurance companies and diminished value claims in Texas Insurance companies hate diminished value claims. They consider these claims dubious...

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Texas employment lawyer: Diminished value on a salvage title

A salvage vehicle means a vehicle declared a total loss due to a wreck or theft. In Texas it is possible to buy and drive a vehicle with a salvage or rebuilt title. It requires inspection by the Department of Motor Vehicles and a certificate issued on the basis of the inspection. Many people are leery of buying a vehicle with a salvage title but there is definitely a market for them. Many buyers in the salvage market are looking for older vehicles or specialty vehicles to work on as a restoration. Some are looking for vehicles to gut and upgrade for...

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Fort Worth divorce lawyer: What do diminished value claims and prenups have in common?

I mean other than two legal issues that I can help you with? Diminished value claims and prenups have two things in common: 1. they both preserve the value of property; and 2. they both become legal issues after a wreck. Ok, so diminished value claims have to do with car accidents but prenups have to do with marital property. So why am I writing about these two subjects together? Let's call it a mental exercise in legal analysis. First let's start off briefly describing each: What is a prenup? A prenuptial agreement (prenup) is a contract by two parties that becomes...

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Seven Things That Will Hurt the Value of Your Diminished Value Claim in Dallas-Fort Worth

Diminished value claims, which allow recovery on the lost market value of a car that has an accident in its history, do not follow a precise formula. Texas allows recovery under a diminished value claim; but whether you can recover and how much of the value you can recover depends on many factors. Among those factors are the value of your vehicle before the accident and how effectively your attorney can negotiate. Before you begin negotiating any diminished value claim you should understand how to calculate your specific claim. Today's post will deal with some key issues that will lower the...

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5 diminished value claims mistakes that will make the claims adjuster laugh at you: Texas lawyers

Although diminished value claims are on the rise in Texas, insurance companies still feel like they are winning the war. Insurance claims adjusters know that for the majority of people the adjuster can take advantage of the claimant's inexperience in dealing with insurance claims and personal injury litigation. If you are new to diminished value claims, start by reviewing my introduction to Texas laws for diminished value claims. (Part 1, Part 2, Part 3, Part 4). Insurance claims adjusters have heard everything imaginable and they know all of the tricks to frustrate, manipulate and stall claimants. They know as long as you...

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Texas diminished value claims and first party liability: Fort Worth labor lawyer explains

Diminished value claims are claims for the loss of market value in a vehicle after it experiences a car wreck. Diminished value is a subset of personal injury law that deals with car accidents. Insurance companies avoid paying on diminished value claims because they can add thousands to a claim. Sometimes insurance companies will tell you lies. Like they do not pay diminished value claims, or use artificially low calculations for your diminished value claim. For more information about Texas diminished value claims check out my four part series. (Part 1, Part 2, Part 3 and Part 4.) Third party liability...

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When the insurance company says they don’t pay diminished value claims: Texas employment lawyer

A common statement I hear at my law firm about Texas diminished value claims is the insurance company insists they will not pay diminished value claims. In fact, this is probably the #1 statement I hear from people looking for help settling their diminished value claim. Insurance companies are experts in defending against car wreck claims. They will use every trick to deprive you of the value for the injury and your car. Insurers in Texas know without an attorney you are less likely to take the right steps to defend your claim. After all, they are large businesses who have entire departments who...

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How insurance companies calculate diminished value claims by Dallas labor lawyer Adam Kielich

Most insurance companies use a diminished value calculation known as "17c". This diminished value calculation was developed by Infinity Insurance and first implemented in a court by State Farm in a Georgia lawsuit in which State Farm submitted this calculation method as a way to calculate diminished value. The court in that case (Mabry v. State Farm) approved its use--in that case--and as a result of the low value produced by the formula, most insurance companies have adopted it or a close variant. (The name 17c comes from the place where the formula was described by the court: paragraph 17...

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Getting your Texas diminished value claim paid by small insurers

Getting in contact with insurance companies to file any claim can be a nightmare. Figuring out the right number to call to file  a claim can be a challenge. Especially when the policy comes from a small insurance broker who sells policies issued by an entirely different insurer. By the time you reach somebody who can work your claim you may have talked to many people. You may not really have an idea who you are talking to. When you try to file a diminished value claim (discussed in this four part series in earlier blog posts one, two, three and four)...

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