BYD Insurance Blog: The Adjuster! Making Insurance Claims Pay

The Adjuster! Making Insurance Claims Pay

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The Adjuster! is a practical, down-to-earth self-help guide to learning the business of insurance claim adjusting. Written in an easy, comfortable style the book takes the beginner by the hand and leads the way through the basics of investigation, evidence gathering, analysis, evaluation and ultimately settlement negotiation. For the person who has no insurance experience the book provides the nuts and bolts of claims in a straightforward, simple manner with excercises and suggestions for further study. It includes descriptions of the materials and equipment which are used by the insurance claim adjuster and explains in honest terms what it takes to go into business for oneself. The book demonstrates how to start out "on the kitchen table" in a business of your own, or teaches the basics by which a trainee can go out and get a job working for someone else in a new and exciting career.

The Adjuster! Making Insurance Claims Pay

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Conspiracy or insurance adjusters?

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Insurance Adjuster?
Hiya:

Things like oil, air filter, and spark plugs are not going to add a whole lot of value to your vehicle.

When I explain this to people I usually explain that a vehicle is SUPPOSED to come with those things. Just like tires. A car is supposed to have them. If you have racing wheels on a..honda civic, let's say...then that can likely DECREASE the value in particular markets. If you have a fancy paint job - the vehicle is worth less in certain markets (like an elderly community - those people are not going to pay for racing wheels and a fancy paint job).

The V8 engine would rank above a V6 but the mileage is going to be the big deal. A 94 vehicle with 40K miles is going to be worth more than a 94 vehicle (especially a truck) with 97K miles on it. Trucks are known for heavy duty work and the value depreciates a lot quicker.

Anyway...you can go to www.nada.com and plug in your vehicle stats to come up with a pretty good idea of the value in your area. (Values can REALLY vary from state to state, btw). The adjuster is going to do a market search based on your vehicle stats. That means they are going to call dealers, check out the trading mags, call local sellers with vehicles advertised for sale.......They have to establish what your truck would be worth in your market. If you are in a farming community - it might be worth more. If you are in a cosmopolitan city - it would likely be worth less.

Yeah, so.....that's about as clear as mud, right? :-) NADA should help you out. You can also ask your adjuster for the information they base their value on.

BTW - if there is more than a few thousand in damages....it's likely a total loss. That doesn't mean you lose your truck though (if you are the titled owner). You always have the option of keeping it. (The adjuster would decrease the offer to you by whatever the salvage value is though. If the offer was $ 5000 and the salvage value was $ 500 and you wanted to keep the truck? You would get $ 4500 (less deductible if 1st party) and could keep the truck. Granted - In some states you'd have to get a salvage title and wouldn't be able to drive the truck legally until it was repaired and inspected......at least, that's the way it is where I've handled claims.)

Still clear as mud? Hopefully not. Goodluck!

~jifr!Dude, unless you specifically insured "customizing equipment" when you took out the policy, you're only covered for stock parts. NOT the fancy stuff.

But typically, expensive spark plugs, air filters, and oil do NOT increase the value of the truck. The Running Boards and Bedliner might, but again, unless you INSURED them, you don't have COVERAGE for them.

Your agent should have gone over this with you.