Chubb Group Of Insurance Company

As the customer reported, he received a copy of the worksheet that lists the formula and the rating factors in determining the value.
On the second page of the report it lists the amount of the damage, along with a breakdown of the labor hours necessary to repair the damage and the total of the price of the parts. Below that section is the Diminished value rating that is applied based on the value of the vehicle, the type of vehicle, the repair parts and labor. The formula for obtaining the diminished value is listed on this page.
A phone number was also provided to the independent company that provides the value as well as their web address and contact information for further clarification.
At this time we will not be revising our offer as there has been nothing submitted to us that supports an actual loss in value in excess of what has been offered.

This customer has submitted a claim for the diminished value of his 2014 Ford Explorer as a result of a minor rear end accident. The insurance company has paid to repair his vehicle to its pre accident condition. The customer is now asking for more than the amount of damage that was...

repaired for the diminished value of his vehicle. The vehicle is a 2014 year model and as such, has diminished in value based upon the age of the vehicle. This was considered when determining a potential diminished value claim.The insurance company hired an independent firm to determine the diminished value of the vehicle as we recognize that an accident may cause a resulting loss in value. The independent firm that completed the diminished value considered the actual repairs that were done - structural versus cosmetic, and based the value on a percentage of the actual cash value of the vehicle. This complaint involves a dispute as to the amount of the value and this specific vehicle. It should also be noted that a recent carfax report on the vehicle indicates that there was only minor rear end damage to the vehicle and no airbags deployed as a result of this incident.
We believe that a fair offer has been made for the potential yet unrealized diminished value claim. The customer has submitted no further information that would affect our offer of settlement.

As the customer reported, he received a copy of the worksheet that lists the formula and the rating factors in determining the value.
On the second page of the report it lists the amount of the damage, along with a breakdown of the labor hours necessary to repair the damage and the total of the price of the parts. Below that section is the Diminished value rating that is applied based on the value of the vehicle, the type of vehicle, the repair parts and labor. The formula for obtaining the diminished value is listed on this page.
A phone number was also provided to the independent company that provides the value as well as their web address and contact information for further clarification.
At this time we will not be revising our offer as there has been nothing submitted to us that supports an actual loss in value in excess of what has been offered.

Our investigation has been completed and a check in the amount of $1,029.12 for the repairs to this vehicle was issued on May 5, 2015. A copy of the appraiser's repair estimate was also provided with the check. The check and estimate were sent to the home address that Mrs. [redacted] provided to us. A...

telephone message has also been left for Mrs. [redacted] providing her with the same information.

This customer has submitted a claim for the diminished value of his 2014 Ford Explorer as a result of a minor rear end accident. The insurance company has paid to repair his vehicle to its pre accident condition. The customer is now asking for more than the amount of damage that was...

repaired for the diminished value of his vehicle. The vehicle is a 2014 year model and as such, has diminished in value based upon the age of the vehicle. This was considered when determining a potential diminished value claim.The insurance company hired an independent firm to determine the diminished value of the vehicle as we recognize that an accident may cause a resulting loss in value. The independent firm that completed the diminished value considered the actual repairs that were done - structural versus cosmetic, and based the value on a percentage of the actual cash value of the vehicle. This complaint involves a dispute as to the amount of the value and this specific vehicle. It should also be noted that a recent carfax report on the vehicle indicates that there was only minor rear end damage to the vehicle and no airbags deployed as a result of this incident.
We believe that a fair offer has been made for the potential yet unrealized diminished value claim. The customer has submitted no further information that would affect our offer of settlement.

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.I am currently on vacation and don't know if they sent the information. Prior to my husband and I leaving they contacted us telling us they weren't paying for the full repair. They are trying to tell me the appraiser said my car was missing emblem on hood prior to accident and it wasn't. As of today I am not happy with the communication and service. I should get the full repair cost not partial and I didn't receive anything but a message prior to leaving for vacation.Regards,

The insurance company has never sent me any methodology to their fact findings on how they come up with their diminished value numbers. Chubb insurance did send a copy of an independent assessment but it didn't show any methods of how the appraisal was reached. Also I have sent 3 independent reports to validate my claim, while the chubb insurance company has only sent me emails with no details to their methods.  I have sent  detailed info on the appraisal and worth of the car before and after the accident.   Chubb insurance company even stated that if I sell my car, they will consider the loss value at that time.  I feel selling my car for a loss is unfair and unrealistic.  I even suffered injury and missed work for severe whiplash, and in good faith didn't even try and claim any personal injury.  I just want the fair difference in the loss of value.  I can no longer sell my car as a certified used car, no reputable dealerships will by the car as evident of the fact finding papers I have sent the chubb insurance.  When the accident occured, my car had very low milage and no previous accidents.  The reason was to maintain the certified tag to the car to help with my future trade in.  Now the car is only good for auction.