NJ Automotive Insurance Collision Repair Dent Removal - Not All Insurance Companies Are The Same Ask Us Why

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Alternative Parts Usage:

Aftermarket parts are parts not made by your vehicle’s manufacturer (OEM parts). They are generally made in Taiwan or China.
Aftermarket parts are NOT equal to OEM parts.
Aftermarket parts do not fit, nor do they wear, the same as the original parts that were used on the vehicle.
Insurance companies have significantly different policies on when aftermarket parts should be used.
The use of aftermarket parts can affect the look, longevity and safety of your vehicle.

Betterment / Depreciation:

Betterment is a term used in the insurance industry when a part such as a tire is replaced, and the insurance company pays for the unworn part and the customer pays for the amount that was worn.
Depreciation is a decrease in the value of property due to age, wear and tear.
At times, insurance companies will adjust the amount of a claim based on depreciation and betterment.
Companies do not apply betterment and depreciation the same way. How it is applied can dramatically affect the amount you pay!

Total Loss Calculations:

The formula an insurance company uses to determine whether a vehicle with significant damage is worth fixing changes dramatically from company to company.
The amount of money you receive if your vehicle is a total loss can greatly differ based on the formula used by your insurance company to determine “replacement” value.

Full Replacement Coverage On Totals:

Most of the depreciation of a new auto occurs within the first year – 25% or more. Most insurance companies only pay for the depreciated value at the time of the accident. You would not be compensated for the gap caused by depreciation. This is very important if you have a loan on your vehicle or it is lease.
If you have a policy that offers full replacement coverage, it is replaced with a brand new automobile.

Lien Holders On Checks:

Some insurance companies will include the lien holder on checks, which delays delivery of the vehicle until the lien holder’s signature is obtained.
Obtaining a signature from the lien holder can involve getting photos of your vehicle completed, copies of Body Shop invoices, and costly Express Mailing of checks to and from the lien holder. This can be a lengthy process after your vehicle is complete, making you unable to pick up your vehicle until your check is endorsed and returned from the lien holder.

Rental Coverage:

Rental coverage varies widely among insurance companies, from unlimited coverage of a similar size and quality automobile to no coverage at all.
Companies offer different levels of coverage. Some companies may not even offer it, unless you ask. You may assume you are covered until you find out you do not have any coverage when you need it!

Other Differences: