Diminished Coverage for Diminished Value
Recently, the Insurance Services Office concluded that diminished value (DV) isn’t covered in the language of Personal Auto Policies. This may soon lead to head-to-head battles between insurers and consumers, since both sides interpret DV differently. But what effect will the exclusion –– and the head butting –– have on the collision industry?
No Grease Monkeys Here: Our Industry’s Image
If you don’t think a lot of the problems we face in the collision repair industry are related to our negative image, think again. Between the public and the educators, our industry is often viewed as fit employment only for the mentally disabled and the drug and alcohol impaired. But it’s not their fault they think that way — it’s ours.
Another Leg to Stand On?
Ohio court rules that an insurer has to pay for the “diminished value” of an insured’s car after a wreck
Salary vs. Commission
Each compensation method has its pros and cons. Ultimately, it comes
down to choosing the one that will compensate each individual technician according to his or her ability.
Ditch Your One-Dimensional Ways
Only selling collision repair service these days? Diversification is the answer
to getting your profits back and making your business worth owning.
It’s Showtime, Baby
You can ‘bet’ that the 25th annual NACE show will offer plenty of business opportunities, not
to mention a little fun.
Analyzing “McDonald” izing
The concepts that made McDonald’s arguably the most successful small business in the world can help propel your collision business to the next level of success.
Life in the Fast Lane
The latest industry buzzwords — speed lanes, cycle times, process efficiency — all focus on repairing cars faster. Fast is hot; slow is not. As we ring in the new millennium, we may also be ringing in the era of rapid repairs.
Liability For Sale
With more than $3 trillion in assets belonging to the insurance industry, the acceptance of liability must be a valuable commodity — and the sale of liability must be a profitable business. So why are you only charging the wholesale time it takes you to do a task without financial consideration for the liability you accept?
Finding Your True Cost of Business
It takes more than a coin toss to decide which jobs your shop should accept. It’s about understanding the cost of doing business. If you’re not measuring the profitability of repairs, how do you know the repairs are even profitable?