How to check if you have been underestimated What to do in such a situation

How to check if you have been underestimated What to do in such a situation

Understated compensation is the most common problem affecting the motor insurance industry. Insurers can offer a lower amount of compensation to the victim, assuming that the customer is not aware of the amount to which the compensation is due. Often…
How do I know if you were underpaid? What should I do in such a situation?
Undercompensation is the most common problem in the motor insurance industry. Insurers can offer a lower amount of compensation to the victim, assuming that the customer is not aware of how much compensation he is entitled to. This is often true and, as a consequence, the victim does not appeal against the decision. So what if you suspect that the amount of compensation paid is not reasonable?
How to estimate the correct value of compensation?
For this purpose, it is worth checking a few basic items in the insurer’s cost estimate. These are the most common issues that can result in underestimated compensation:
Working hour rate
When the damage is caused, the perpetrator or insurer insurance of the perpetrator is obliged to repair it. It is up to you to choose: the insurance company may decide to restore the car to its previous state or it should pay such a sum that will allow you to repair the damage yourself. In the first case, the insurer determines the cost of repairing the damage. The amount consists of time spent on necessary workshop work. Insurance companies often set it at 50-60USDnetto per working hour, when market rates can be up to 2-3 times higher.
Application of prices of so-called substitutes
Non-original “spare” car parts are usually much cheaper than the original ones. It may happen that the calculation of compensation is based on such alternative parts. The insurer can only do this legally if you have agreed to it or if the car used replacement parts before the collision. Otherwise, you should request that the original parts be used to repair the car.
Total damage
It happens that the so-called total loss insurer states when the consequences of the accident were so severe for the car that the repair will exceed 80% of the value of the vehicle. Such actions are illegal. According to the Supreme Court’s opinion, excessive repair costs amount to more than 100% of the value of the vehicle before the damage. If the costs of repair in your case do not exceed the premature value of the vehicle, you should demand a recalculation.
What steps should I take if I suspect underestimated compensation?
The first step is to report to your insurance company. It is best to send the complaint in the way indicated by the insurer in the decision to award the compensation. The insurer has 30 days to reply from the moment of receiving the complaint. If the insurer does not respond within the set time limit, the insurer will accept the claim.
The next step may be to contact the Financial Ombudsman. It should be noted which insurance company you are complaining about, refer to a specific damage number and specify the policy from which it was liquidated. Remember, however, that the Ombudsman cannot order the insurance company to change its decision. They can only suggest it.
If the previous options have not been successful, consider going to court. It is a good idea to have a specialist here. This solution requires already knowing the law and estimating the chances in the trial. Additionally, using the help of a compensation office increases our chances of obtaining even twice as much compensation. If – in your opinion – you have received underestimated compensation, on this website: -You will find articles to learn more about this subject.

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