After
the Accident...
by Austin Davis of TrustMyMechanic.com
Reader
Question: I
just had an accident, what should I do now?
Dear
concerned car owner,
What
should you do after your car has been in an accident?
What if the repair shop you use does not have a body
repair facility, but you have called their towing company
for assistance? Insurance companies will usually allow
you to transfer your vehicle from one location to the
repair facility of your choice one time at no additional
expense to you. If your car has been towed to a storage
facility and you need it towed to the repair shop, the
insurance company will usually pick up the tab for the
second tow charge.
So,
if you do not have a body repair shop already picked
out (which you should the day you get your new car)
then you will have a day or so to find one that you
like. If your car was damaged beyond repair (a total
loss) then it really does not matter if your car is
at a storage facility or at the repair shop. The insurance
company will send out a claims adjuster to see the damage
to your vehicle. If it is a total loss and they want
to settle with you:
Be
sure to agree upon a price of the claim and get it in
writing!
Find out how much and when they will pay you before
you release your vehicle to them. KEEP your rental car
until they have paid you !
Once you sign the vehicle release, the car belongs to
them and you just lost your bargaining power. The insurance
company will have to pay storage each day your car sits
on the storage lot; so your agent will want that car
removed as soon as possible. When the car is gone and
there are no storage charges accruing, the insurance
company has no burning desire to settle the claim quickly
and fairly. I tell my customers not to release their
totaled vehicle to the insurance company unless they
are COMPLETLY satisfied with the settlement number they
have agreed upon, and they have a check in their hands.
You
might think your insurance company is your friend and
will be on your side, and you are right as long as you
are paying them! I have seen many people get more money
than the insurance company was initially willing to
allow because they were able to show recent repair receipts,
other comparable vehicles in the newspaper or on the
internet, or they just held out a day or two until the
insurance company finally compromised. Do not be unreasonable,
greedy, or petty...but do not allow them to take advantage
of you either. Research the reasonable value of the
vehicle on your own and make informed decisions.
I
am not out to get insurance companies, but they do a
great job of taking money over the years and when you
ask them for money once in (hopefully) 5 to 10 years,
you should be able to expect them to be fair. I get
lots of thank you letters from customers who do this
and they are amazed at the fact that they don't have
to settle for what their insurance company tells them
is fair.
I
had one customer call me and tell me she got well over
a thousand dollars more than what the insurance company
said they would give her, just because I told her to
look on the Internet for cars that were like hers with
the same mileage, etc. and get an average price. If
you just had $300 worth of tires installed and a new
set of floor mats-those assets should be added to the
value as well. If you are in a rental car at the insurance
company's expense, tell them you will return it when
you get your check. This sure speeds up payment!
Sincerely,
Austin
C Davis
