My question involves insurance law for the state of: NJ
I was involved in a traffic accident approximately 3 weeks ago. There were no injuries. My vehicle was towed from the accident to a local auto body shop.
The next day, an adjuster from my insurance company contacted me to verify the circumstances of the accident, and wanted me to authorize moving my vehicle from the body shop to the insurance company's storage facility. She also asked me to sign a document granting the insurance company power of attorney to transfer vehicle title. At this point, nobody from the insurance company had seen the vehicle.
I refused to sign over power of attorney, but did allow the insurer to move the vehicle to their facility. At that point, the vehicle was appraised and determined to be a total loss. My adjuster gave me a settlement figure, which I felt was substantially low. I asked her to provide the appraisal report, which she did.
I reviewed the appraisal and found that the report used comparable vehicles which were entirely different body style and engine size than my vehicle, and I objected as such. The adjuster told me that I could submit my own comp vehicles with evidence that they were a better match, and the company would consider them for purpose of valuation.
I have provided a total of 10 comparable vehicles to the insurer. The first 5 were rejected by the adjuster, claiming that because the vehicle locations were too distant, they could not be considered comparable. I then provided 5 additional vehicles within the distance specified by the adjuster. The response to these vehicles was that first they were missing pertinent information (they were not) and then that the insurer doesn't actually do the appraisals themselves - that they are reliant on vendors JD Powers and Mitchell to tell them what the vehicle is worth. The latest data returned by the vendors were two vehicles, which were located at a greater distance, and with far lower mileage than my own loss vehicle or any of the comparables I provided.
At this point, I am hearing nothing but continual excuses from the insurer, and have received no payment for my claim, other than rental reimbursement. When the insurer cut off my rental coverage, after declaring my vehicle a total loss, I was forced to incur out-of-pocket expense in order to purchase a replacement vehicle.
What are my rights in this situation, and how much weight is given to my vehicle valuation comps as opposed to the insurer's? I have provided them with detailed comparisons, illustrating that the vehicle comparables that I provided are a closer match in equipment and mileage to my loss vehicle, yet they continue to claim that their vendor's lower value is correct, despite no evidence shown.
I apologize for the length - I've tried to include all the pertinent details.
I was involved in a traffic accident approximately 3 weeks ago. There were no injuries. My vehicle was towed from the accident to a local auto body shop.
The next day, an adjuster from my insurance company contacted me to verify the circumstances of the accident, and wanted me to authorize moving my vehicle from the body shop to the insurance company's storage facility. She also asked me to sign a document granting the insurance company power of attorney to transfer vehicle title. At this point, nobody from the insurance company had seen the vehicle.
I refused to sign over power of attorney, but did allow the insurer to move the vehicle to their facility. At that point, the vehicle was appraised and determined to be a total loss. My adjuster gave me a settlement figure, which I felt was substantially low. I asked her to provide the appraisal report, which she did.
I reviewed the appraisal and found that the report used comparable vehicles which were entirely different body style and engine size than my vehicle, and I objected as such. The adjuster told me that I could submit my own comp vehicles with evidence that they were a better match, and the company would consider them for purpose of valuation.
I have provided a total of 10 comparable vehicles to the insurer. The first 5 were rejected by the adjuster, claiming that because the vehicle locations were too distant, they could not be considered comparable. I then provided 5 additional vehicles within the distance specified by the adjuster. The response to these vehicles was that first they were missing pertinent information (they were not) and then that the insurer doesn't actually do the appraisals themselves - that they are reliant on vendors JD Powers and Mitchell to tell them what the vehicle is worth. The latest data returned by the vendors were two vehicles, which were located at a greater distance, and with far lower mileage than my own loss vehicle or any of the comparables I provided.
At this point, I am hearing nothing but continual excuses from the insurer, and have received no payment for my claim, other than rental reimbursement. When the insurer cut off my rental coverage, after declaring my vehicle a total loss, I was forced to incur out-of-pocket expense in order to purchase a replacement vehicle.
What are my rights in this situation, and how much weight is given to my vehicle valuation comps as opposed to the insurer's? I have provided them with detailed comparisons, illustrating that the vehicle comparables that I provided are a closer match in equipment and mileage to my loss vehicle, yet they continue to claim that their vendor's lower value is correct, despite no evidence shown.
I apologize for the length - I've tried to include all the pertinent details.
Auto Insurance: Vehicle Damage Settlement Dispute
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