1. YOU'RE NOT AT THE MERCY OF AN INSURANCE COMPANY
Many people believe that there isn't much they can do about how their claim is handled, or how they're are treated by an insurance company. However, although insurance companies seem invincible, especially in New Jersey, you do have certain rights. The manner in which your claim is handled is set forth in the Unfair Claims Settlement Practices Act and corresponding Administrative Code provisions ( N.J.S.A. 17:17b-30-13.1 and N.J.A.C. 11:2-17);These provisions deal with just about everything, from the amount of time they have to adjust the claim, to the types of parts they are entitle to use, etc...;
2. YOU DON'T HAVE TO ACCEPT THEIR DAMAGE ESTIMATE
If you don't agree with the amount an insurance company is offering to settle your claim, you can reject their offer and provide proof that the damage exceeds their estimate. If you and the insurance company cannot agree on an amount, you can simply proceed to sue their insured for the total amount you feel is owed or, if it is your company, you my proceed through arbitration, or possibly a lawsuit;
3. NEVER TALK TO THE THE PARTY'S INSURANCE CARRIER
If you have an attorney, let them deal with the insurance companies. If not, the only company you must cooperate with is your own. The other party's company and adjusters know how to ask questions to get certain types of answers, which can make you appear at least partially at fault for the accident. So never discuss how the accident happened with them or, if you're injured, your injuries ad treatment;
4. DON'T FORGET ABOUT ABOUT YOUR DEDUCTIBLE
If you have collision coverage on your vehicle, your company will generally handle the adjusting of the claim and pay you for the damage; however, you will have to seek your deductible from the other party's carrier, and many times they will try and delay or reject responsibility. If this happens, refer them to the above statutes, or contact an attorney;
5. DIMINISHED VALUE CLAIMS
This is a portion of the damages that many people are either unaware of, or don't pursue and, unfortunately, they lose money. New Jersey and may other states recognize diminished value claims. Essentially, these damages are for the value the vehicle has lost due to being damaged. Now that Carfax and other services have been around, a comparison can be made between your damaged and repaired vehicle's value and a similar vehicle that has never been damaged. A damaged vehicle will suffer increased depreciation and market value. So, where applicable, always seek these damages from the other party's carrier. Depending on the age, condition and type of vehicle, it could put thousands of dollars in your pocket. There are companies that can help you appraise the difference, or you can contact an attorney who is familiar with these types of claims
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