Why Use Used Parts?
"Why isn’t there a higher mark-up or other incentive for shops to use salvage parts?" — P. Michael Riffert, pres., Engle’s Frame & Body Service, Ephrata, Pa. Any of us are in the collision repair industry because we love it. And when you like your occupation, 99 times out of 100 you’ll produce a better
10 Tips for Eliminating Repair-Related DV
Figuring dimished value.
Hey, Big Spender: Insurance Company CEO Salaries
Before you start believing that billion-dollar judgments against State Farm and other insurance companies will bleed them dry (fat chance) and necessitate premium hikes, check out the exorbitant CEO salaries these companies pay. With paychecks and stock options like these, insurers obviously have a money tree planted somewhere.
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?
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.
The Unofficial Collision Repair Dictionary
Many terms are used every day at our shops, but their true meanings are often muddled by the craziness of our business. A quick check of the dictionary can get us back on track.
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?
Career Shop or Stepping Stone? High Employee Turnover Rate
A high employee turnover rate can slow shop productivity, weaken the image of your business and dilute the morale of remaining employees. But by understanding techs’ most common complaints, getting personal and offering some unorthodox benefits, you can be sure the employees you hire today are with you tomorrow.
Keeping the Wolves at Bay: When it’s Hard to Pay the Bills
When you can’t pay those who you owe and you’re out of your wits, there are a number of ways to prevent them from huffing, puffing and blowing your credit and finances to bits.
Salvaging the Salvage-Parts Market
Collision repairers agree: Used parts are a viable alternative to new OE crash parts. They also agree that the lack of compensation they’re given for making used parts usable isn’t doable. Their solution? Insurers need to scrap their current way of thinking and recognize what repairers have to do to save them money.
In September’s article, "Repairing the Crash-Parts Market" (pg. 44), we took a closer look at the manufacturing of aftermarket crash parts, the problems repairers have with their use and the solutions raised by industry leaders. This month, we’ll examine the salvage-parts market in much the same way.