Bryans Video

6 THINGS YOU NEED TO KNOW ABOUT DIMINISHED VALUE

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1. A DIMINISHED VALUE CLAIM (OR "DV" CLAIM) IS WHEN BODY DAMAGE TO YOUR VEHICLE CAUSES ITS RESALE VALUE TO DECREASE.

THE CLAIM IS FOR COMPENSATION BETWEEN THE TWO VALUES, TO MAKE YOU WHOLE BY COMPENSATING YOU FOR THE AMOUNT WHICH THE RESALE VALUE DECREASED.


2. SUCH A CLAIM MAY ONLY PRESENTED TO THE AT-FAULT PARTY'S INSURANCE COMPANY (OR SUBSTITUTION THEREOF).

YOU MAY NOT MAKE A DIMINISHED VALUE CLAIM AGAINST YOU OWN COLLISION COVERAGE. IF YOU ARE AT FAULT FOR THE BODY DAMAGE TO YOUR VEHICLE, YOU DO NOT HAVE A REMEDY UNDER THE LAW FOR THE DECREASE OF YOUR VEHICLE'S RESALE VALUE.


3. YOU CAN ASK THE INSURANCE COMPANY TO EVALUATE AND QUANTIFY THE DIMINISHED VALUE OF YOUR VEHICLE, BUT WE RECOMMEND YOU SEEK AN INDEPENDENT APPRAISAL.

WE DO NOT GENERALLY TRUST THE EVALUATION OF INSURANCE COMPANIES WHOSE SELF INTERESTS MAY CONFLICT WITH YOURS. (THEY DO NOT TEND TO PART WITH MONEY EASILY.) AN INDEPENDENT APPRAISAL WILL LIKELY COST A FEE, BUT YOU MAY FIND PEACE WITH THE AMOUNT OF THE REPORT KNOWING THE EVALUATION WAS TRULY INDEPENDENT AND UNBIASED.


4. ESPECIALLY ON NEWER VEHICLES, IF YOUR DAMAGE IS MODERATE, YOU COULD BE LOOKING AT A FEW THOUSAND DOLLARS.

EVERY CLAIM IS DIFFERENT AND SPECIFIC TO THE YEAR, MODEL AND MAKE OF THE VEHICLE, PLUS THE DAMAGE RELATED TO THE SUBJECT ACCIDENT.


5. DIMINISHED VALUE CLAIMS ARE VERY DIFFERENT THAN THE ACTUAL PROPERTY DAMAGE CLAIMS.

THE DIMINISHED VALUE CLAIM ASSUMES THE REPAIRS WERE ALREADY DONE WELL, WHICH THEY WILL BE IF YOU BRING YOUR VEHICLE TO BRYAN'S BODY AND FENDER.


6. WHILE WE DO NOT TYPICALLY DO APPRAISALS OF DIMINISHED VALUES, WE CAN RECOMMEND A WELL RESPECTED COMPANY.

MEANWHILE, GET QUALITY, GUARANTEED REPAIRS DONE AT BRYAN'S BODY AND FENDER.

Call today for your free estimate on the damage to your vehicle.

410-838-7320

Bryan's Body and Fender

3106 Rocks Road

Jarrettsville, MD 21084

Conveniently serving Harford County, MD, including: Bel Air, MD, Jarrettsville, MD, Forest Hill, MD, Aberdeen, MD, Havre de Grace, MD, Abingdon, MD, Edgewood, MD, Joppa, MD, Fallston, MD and Churchville, MD.

Estimates Are Free and Non-Obligatory

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Our Estimates are Free of Charge

If you have damage to the body of your vehicle, call us today for your free estimate. Whether you were in an automobile accident, you hit a tree or there is other damage to your vehicle, we can fix it the way you like. You do not have to settle for used or aftermarket parts to fix your vehicle. We may have to arrange some differences if your repairs are being paid for by an insurance company, but we can make that happen for you. There is no obligation when you call us for an estimate. Just because we draw up an estimate to fix your vehicle does not mean that you are bound nor obligated to fix your vehicle at Bryan's, although we hope you will. 

If you have auto body damage, give us a call today for your free estimate. 

410-838-7320

Bryan's Body and Fender

3106 Rocks Road

Jarrettsville, MD 21084

Conveniently serving Harford County, MD, including: Bel Air, MD, Jarrettsville, MD, Forest Hill, MD, Aberdeen, MD, Havre de Grace, MD, Abingdon, MD, Edgewood, MD, Joppa, MD, Fallston, MD and Churchville, MD.

Limited Time Discounts - Coupons

Keep $250 You Would Otherwise Spend on Repairs

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At Bryan's Body and Fender, we believe in saving you money. At times, we offer limited time discounts. The coupon above will be in effect until November 21, 2016. 

Act now to save yourself money! Can you imagine what you can buy with the $250 you would have paid towards your deductible or body work?

Call us now for your free, no-obligation estimate at 410-838-7320. 

Bryan's Body and Fender

3106 Rocks Road

Jarrettsville, MD 21084

Conveniently serving Harford County, MD, including: Bel Air, MD, Jarrettsville, MD, Forest Hill, MD, Aberdeen, MD, Havre de Grace, MD, Abingdon, MD, Edgewood, MD, Joppa, MD, Fallston, MD and Churchville, MD.

Do You Have to Use Your Insurance Company's Body Shop?

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Do you have to use your insurance company's "preferred shops"?

No. You do not have to use your insurance's "preferred" body shops. 

Insurance adjusters are trained to sell you on using their favorite shops. I wonder why. 

They made it seem like there are benefits to using their shops, such as: 1. They guarantee the body work done by the body shop of their choosing, and 2. The rental car is much easier if you do it that way. 

BUT, the truth is: 

1.  Most body shops guarantee their own work. Bryan's Body and Fender is dedicated to bringing you the service you want. We fix your car how you want it to be fixed, which may not be the case for your insurance company's body shop. Moreover, we guarantee all of our own work. 

2.  We can arrange to have the rental car company give you the rental when you drop off the vehicle to us, just like any other body shop can. Just call us with the insurance company and claim number. 

Even if you want to use your insurance company's "preferred shop," you may benefit from getting an INDEPENDENT appraisal by Bryan's Body and Fender. 

Call us now at 410-838-7320 for your free, no-obligation estimate. 

Bryan's Body and Fender

3106 Rocks Road

Jarrettsville, MD 21084

Conveniently serving Harford County, MD, including: Bel Air, MD, Jarrettsville, MD, Forest Hill, MD, Aberdeen, MD, Havre de Grace, MD, Abingdon, MD, Edgewood, MD, Joppa, MD, Fallston, MD and Churchville, MD.

Guide To Buying Car Insurance in Maryland

 

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Five Types of

Auto Insurance & What They Mean

1.   Liability Insurance




Examples of coverage

• Liability is the kind of insurance that protects you from financial exposure when you’re at fault for an accident. In other words, it handles others’ damages when you’re at-fault.
• $30k/$60k/$15k is the minimum coverage you can have in Maryland.
• What do these 3 numbers mean?
• The 1st # means “maximum per person”
• The 2nd # means “maximum total”
• The 3rd # means “maximum property damage
• Example: You were in an accident detemined to be your fault. You had coverages of $30k/$60k/$15k. It was a 3 car accident (but you are responsible for all the vehicles). There was a driver and 1 passenger in each of the other vehicle, all of which were very badly injured.
• The coverage would translate:
• Each injured party in the other vehicle would cap out at receiving $30,000 from your coverage. No one party could receive more than $30k for his/her injuries (i.e. 30k max per person). But, not each party would receive that much, even if his/her injuries warranted such. The maximum coverage available for all 4 injured people would be $60,000 (i.e. 60k max total). That means the 4 parties would have to divide up that coverage, even if their injuries were catastrophic. Although both of the other vehicles were considered to be total losses, your insurance would only pay $15,000 (i.e. 15k max for property damage for BOTH- $7,500 each or a percentage thereof).
• Keep in mind that the insurance maximum is not the maximum for which an injured party may be awarded a verdict.
• When you owe someone compensation greater than your insurance coverage, they can come after your assets (i.e. belongings: houses, cars, businesses). Therefore, the first number in your liability coverage should be larger than the sum of your assets. If there is no such option - look into buying an “umbrella policy” for additional coverage.

2. UM/UIM:

• You must have at least as much UM/UIM as your liability coverage in MD. (Unless you’re a taxi)
• UM (Uninsured Motorist) is insurance to protect you in case you’re in an accident with an uninsured vehicle or the other vehicle drives off. When the at-fault vehicle has no insurance, your insurance company steps in to “act as if” they’re the at-fault
• Insurance.
• $250 is the standard deductible for UM
• If you’re in an accident with someone who has $30k/$60k and you have very serious injuries, it
• would not be fair to only be covered for $30k (if you had more). Most people with minimum coverage don’t have assets to take, and it would be an uphill battle if they did. Uninsured motorist coverage makes sure you’re able to at least as much coverage as your liability coverage. If you have $100/300, your insurance would cover the difference between their insurance and yours. (between $30k and $100k = 70k) Their insurance would pay $30k (their max) and yours would pay $70k on top.

3. Collision/Comprehensive:

• Collision: This insurance covers your car damage when you’re involved in an accident that is your fault.
• You get to pick the deductible you will owe every time you use the coverage.
• Protects your vehicle in the event of damage caused by:
  
  - Natural Disasters
  - Falling Objects
  - Fire
  - Hitting/Being Hit by an Animal
  -Vandalism
  - Theft 
• Collision will also step in and help you if you’re in an at-fault accident that has a long
  investigation. They will fix your car immediately and get their money back from the at-fault
  insurance company.
• Rental coverage does not automatically come with collision. So, make sure you have it.

4.  Gap Insurance: 

• Cars depreciate every day. If you have a loan, you could owe more than the car is worth almost immediately.
• Total Losses never seem fair.
• The insurance company pays you what your car is worth on the open market, which often differs from what its worth to you. Don’t end up owing on a vehicle that you don’t have anymore.
• Gap insurance will pay off your loan if your total loss settlement is less than your loan.
  You may already have gap coverage with your bank. check before you buy it.

5.  PIP/MedPay

• PIP (Personal Injury Protection Coverage) is available to you no matter whose fault the accident was. It insures you for Medical expenses or 85% of lost income up to the amount you specify on your policy. 
• The standard amount of PIP is $2500 per occupant.
• It is illegal in md to raise your rates for using pip
  If the accident is the other driver’s fault & you use you PIP/MedPay to pay medicals and lost wages, the at-fault insurance has to pay them too. You can keep the double payment towards your pain and suffering.
  Medpay is like PIP, but it does not pay lost income.
  “Guest” PIP only covers household relatives, not you.
  PIP will not cover you unless you buy "full” PIP.
• PIP requires you to submit a pip application within one year of the accident.
• If you have been injured in an accident, you should consult an attorney.

*The information within is not legal advice. Insurance is always changing, so you should do more research before purchasing insurance. For more information, consult a Licensed Insurance Agent or a Maryland Attorney.

As always, call us anytime for your free, no-obligation estimate.

Bryan's Body & Fender

3106 Rocks Road, Jarrettsville, MD 21084

410-838-7320

Conveniently serving Harford County, MD, including: Bel Air, MD, Jarrettsville, MD, Forest Hill, MD, Aberdeen, MD, Havre de Grace, MD, Abingdon, MD, Edgewood, MD, Joppa, MD, Fallston, MD and Churchville, MD. 

 

Our New Blog!

Bryan's Body and Fender is excited to announce our new blog! We hope to provide you with interesting and dynamic content, and to further our commitment of helping our customers.

Before our first substantive post, please check us out on social media: 

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Make sure you also have our contact information: 

Bryan's Body and Fender

3106 Rocks Road

Jarrettsville, MD 21084

410-838-7320

We are conveniently located to almost every area in Harford County including:

Bel Air, MD

Forest Hill, MD

Churchville, MD

Fallston, MD

Abingdon, MD

Aberdeen, MD

Havre de Grace, MD

Edgewood, MD

Joppa, MD

Call us for your free, no-obligation estimate today!