Auto Appraisals and Total Loss\’s
By: David I. Smith
On April 9th, 2009, Oregon house bill ?HB2190? became a law that should be of interest to every body shop.
This new law requires insurers to provide vehicle owners with a written explanation of how their vehicle was valued and in a dispute; the insurer is now required to pay the vehicle owner the non-disputed amount (partial settlement) while further negotiations continue. This law also allows the vehicle owner to recover reasonable ?appraisal? costs from insurer when the final appraised value is greater than the insurer’s last (pre-appraisal) offer reducing ?take-it-or-leave-it? tactics!
This is an important victory for consumers and repairers alike whereas vehicles deemed total losses, due to low valuations, may now get repaired. Simply stated; fewer totals means more repairs!
Undoubtedly, many insurers will be more attentive to perform accurate and thorough vehicle valuations, and if indeed the vehicle is deemed to be a total-loss, your customer will likely receive a more accurate offer for their vehicle.
Fairer loss settlements mean happier customers who will not only use you again, but more importantly, they will refer their friends, family and colleagues to you as the trusted source for their collision and cosmetic needs! This is a win-win!
Article Source:
http://www.articlecity.com/articles/auto_and_trucks/article_2796.shtml
