Settling Property Damage Claim After a Car Accident In Oregon
You are hurt in a car accident and left dealing with serious or minor personal injuries. But what about your car or other autos you had been using to get to work or buy groceries for your family? Will your insurance company or possibly the other driver’s insurance cover the repairs and losses?
Options:When you start to work in the property damage claim, you will need to be patient as you work with the auto insurance company.
There are two options in front of you: to repair the vehicle or ‘total’ it. If the insurance company totals it, they will give you a check for the ‘fair market value’ of the car. Many people are surprised by that. Keep in mind that almost always the insurance company will send the check directly to the loan holder, but you might still be left owing to the bank.
The totaling of your car will require you to sign a special release form, but please be careful! This form should only be a release regarding property damage. Make sure you read what you sign.
If the car was not totaled in the crash, you can recover the repair costs and the diminution of value. We always recommend taking your car for repairs to your trusted mechanic shop and not the one the insurance company recommends. Your safety is your priority.
Do your research before you settle the diminished value claim. Most of the time Herron Law firm will request help from a car value expert to determine the depreciation or diminished value of client’s vehicle. Such report will cost between $300 - $500 to our clients. You can absolutely handle vehicle depreciation claim yourself with some help from any above-mentioned expert.
Does it feel like you were injured twice? You did.Property damage claims are “a bad deal” for the consumer since one never gets as much as one really should from the insurance company. But be persistent and keep going. After all, it is your money.