Latest study stacks up insurance company settlements on auto write-offs. Findings: you better do your homework

FORT LAUDERDALE, FL, July 29 /PRNewswire/ - An Automobile Total Loss Settlement Study conducted by Automall Network found that out of 3,200 insurance claims where the vehicle was written off, insurance companies overpaid the claim in 54% of the cases while underpaying in 38%. Only 8% were within +/- $100 of a fair and reasonable market value.

Automall Network's study also found that most policyholders are quite frustrated by the claims process and have several complaints, the most common being that they owe more than the insurance company is willing to pay them. Unfortunately, most have nowhere to turn for answers or assistance.

As a result of the study, a free consumer support helpline and website (www.TheyWroteOffMyCar.com) have been established to help total loss policyholders get the answers and assistance they need. Further, the helpline will provide a free review of the insurance company's valuation and can provide underpaid policyholders an independent professional opinion report and free coaching on how to get more money for their vehicle.

"They helped us get back an additional $7,000 because the insurance company made a mistake in their valuation" said Meg and Rob Dadswell. "We would have simply accepted our adjuster's settlement value and moved on without knowing otherwise".

At the website, consumers can obtain a free "Total Loss Survival Guide" which explains how to calculate the value of their vehicle and ensure they are getting a fair and reasonable offer from their insurance company. In addition, an informative community Blog has been established that is also available from the site.

A complete copy of the Automobile Total Loss Settlement Study is available at www.TheyWroteOffMyCar.com.

Automall Network is a vehicle buying service that helps consumers buy vehicles. They do for car buyers what real estate agents do for home buyers. TheyWroteOfMyCar.com is a free consumer helpline for people whose vehicles have been written off by their insurance company.

SOURCE Automall Network Inc.