Insurance Company Lowballing Diminished Value Claim

[JCruz]

My question involves insurance law for the state of: Oklahoma


My wife was hit by another driver, their insurance company accepted liability and has payed out $4999 on the first estimate. Durin the repairs additional damage was found and an updated estimate with an additional $1650 worth of repairs was sent it.

I spoke with the insurance company and they were going to do an evaluation, since in their books, the car had exceeded 60% of its value in damage and there were likely going to total the car. I get a call back a few minutes later.

The body shop did the repairs without permission from the insurance company. They will not be totaling the car out, and will be issuing a check for the repairs. They said since I chose the body shop it is MY fault and that they will NOT total the car out now.

Under Oklahoma law the car now has to receive a salvage title.

http://usedcars.about.com/od/usedcar...eTitleLaws.htm

I spoke with the Oklahoma Tax Commission and confirmed this. I *will* be getting a red title back.

The insurance company has told me they will not total the car out since it has been repaired.

They have began a diminished value claim and will be calling me soon with an offer. If they follow rule 17c, it'll be $1000 or so, and Ill have a rebuilt title car.

What can I do? Should I go to court and fight this?

[Mr. Knowitall]

Your belief that the diminished value claim is being "lowballed" is based on what?

[JCruz]

Your belief that the diminished value claim is being "lowballed" is based on what?

Ive spoken to many auto dealers and banks.

They have all told me the values are cut in half for a car with a salvage/rebuilt title.

All the banks I talked to said they would only loan 50% on a car with such a title. Auto dealers told me they would only give me 50% of trade value on a branded title car.


As of this point i have a complaint filed with the insurance commission in Oklahoma.