Home Forums Hunting & Shooting Hunter's Campfire Diminished Value Auto Claims--Anyone Know?

They don't call them to "decide" total loss claims.

With an insurance-company-retained total loss, the salvage amount isn't even known until after the vehicle is sold at auction, which is usually long after the total loss itself has been settled with the owner. The only time a salvage value is obtained prior a total loss claim being settled is if the car is owner-retained. And only after the value has already been determined. That's so the salvage value can be subtracted from the insurer-retained value. Some states require guaranteed bids from salvage yards, others just bids. But every state requires all insurers to determine total loss values in that state the same way. And every state I know of its based on a CCC Valuation report that takes into consideration every option on the car, condition of most components, mileage, and a comparison to verifiable comparable vehicles that are actually for sale in that economic area. That's called a Market Survey.

I hold adjusting licenses in Texas, North Carolina and Delaware. I handle claims in those states, plus Virginia, Maryland, West Virginia, DC, Alabama and Germany.