Michael’s an owner operator with a highly specialized rig. Last November, he was stopped at a red light in Chicago when another truck slammed into the back of his trailer. The other truck driver hadn’t been paying attention. Thankfully, no one was physically hurt. However, both trucks and trailers were banged up pretty bad.

Michael filed an insurance claim with the other driver’s insurance. He was successful at getting that insurance company to admit that the accident was their insured driver’s fault.  Unfortunately, Michael thought that once an insurance company admits liability, the rest is easy. While in a perfect world this would be the case, Michael soon learned that it wasn’t.

The adverse insurance adjuster cut Michael’s repair estimate in half, saying it was inflated. The adjuster also only offered a few days of rental reimbursement for a 45-day repair. Michael was told by a valuation expert that his truck was now worth $10,000 less now that it had been in a serious accident. The adjuster said they don’t pay diminished value.

Prove Your Damages

If you’re in an accident, remember: while proving liability is the 1st step in a claim, proving damages can also be a big hurdle.

Pursue all of the losses you’re legally allowed to pursue. It may not be an easy process, but push for everything you deserve. Most states allow for many types of consequential damage recovery. This may include all of your losses relating to the accident including repairs, downtime, diminished value and out of pocket expenses. Unfortunately, there are some states that make it difficult to collect. Contact your insurance adjuster or attorney to learn more about your rights to collect on claims in each state.

Prove the Value of Your Equipment

The price of used equipment has skyrocketed in the last couple of years. If you have an accident in which your equipment was totaled, make sure the adjuster makes you a fair offer, based on current values. Sometimes it is necessary to hire an expert to provide a valuation report.

Prove the Value Lost on Your Equipment

Diminished value is a valid claim in many states.  If your equipment was worth more before the accident than after the accident, consider getting a diminished value report from an experienced heavy equipment adjuster or valuation expert.  Provide this report to the adverse insurance adjuster and push for this lost value to be included in your settlement.

Conclusion

While an accident can cause the average person to swear and cuss, keep your cool and protect yourself from losing out on your rightful damage payments. Contact the experts as needed and prove your losses. Accidents happen, but you don’t have to be a victim.

The information provided is for general informational purposes only and does not constitute legal advice.

For more information on this or other legal issues, please contact:
The Law Offices of
Eckert & Associates, P.A.
DowntimeClaims.com