Is Your Insurance Company Scamming You?

February 20th, 2018

The Bottaro Law Firm has many clients who are in need of getting their vehicle appraised and fixed after a motor vehicle accident. And unlike other law firms, we care about our clients getting the fair market value for their vehicle instead of being scammed out of their well-deserved money. Subsequently, we like to refer our clients to trusted auto body shops who we have years of experience with so that you will not get short changed by big name insurance companies like many Rhode Island drivers recently have.

According to WPRI, Liberty Mutual Insurance Group was caught short-changing Rhode Island drivers whose vehicles were totaled in crashes. A person insured by Liberty Mutual sent the Rhode Island Department of Business Regulation (DBR) a consumer complaint detailing a December 2016 accident that totaled his 2006 Honda Civic. Liberty Mutual’s insured claimed that the insurance company used an illegal valuation method for the determination of fair market value for his totaled car. WPRI reported that the complaint showed Liberty Mutual offered to settle the total loss claim for $4,200, while the National Automobile Dealers Association (NADA) fair market value for the vehicle was almost $6,000.

After receiving this complaint, DBR investigated more than 2,000 total loss claims paid out by Liberty Mutual from October 2015 through January 2017. WPRI reported that Liberty Mutual owed Rhode Island vehicle owners money in 126 cases. Additionally, WPRI obtained the consent agreement between DBR and Liberty Mutual which reported that the insurance company was required to issue 126 refunds to customers which totaled $103,512.27 plus interest because NADA values had not been considered for claim settlements. Additionally, Liberty Mutual had to refund 115 title fees, totaling $6,035.67 plus interest and the state of Rhode Island fined the insurance company $30,000.

Consequently, it’s important to get a trusted auto body to appraise your vehicle using a reliable valuation method. Even if you leave this part to your insurance company, always make sure you check the valuation with NADA to make sure you are not getting scammed. It’s always better to be safe than sorry.

Contact Us Today

If you are a client of ours, always know that we recommend the best and most trusted auto body shops to appraise your vehicle. If you or a loved one has been involved in a motor vehicle accident contact us today to see if you have a claim. Call or text us at 401-777-7777 or fill out our free online form.