Guilty! State Farm to Pay $1.19 Billion
When the jury for the aftermarket parts trial against State Farm awarded the plaintiffs $456 million and the judge ruled the insurance giant committed fraud and awarded the plaintiffs an additional $730 million, some people cheered, some people jeered and others shed tears. But how will all this ultimately affect consumers — and repairers?
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.
Resolving Shop/Insurer Conflicts…Peacefully
Many shop owners complain that insurance companies aren’t allowing them to make a living. How is it, then, that so many other shop owners are working with insurers successfully?
The Court of Diminished Value
As consumers across the country file diminished value (DV) claims against insurers and hire lawyers to file DV class-action suits, repairers need to learn what the law says about DV — and if and when the scales of justice will be tipped against them.
In Court with State Farm
The trial against State Farm for its usage of aftermarket crash parts is underway. Since you can’t be there in the courtroom, we’re doing the next best thing: bringing the courtroom to you.
The Incredibly Shrinking Industry
Until three years ago, the prospect of some Wall Street investor teaming up with a body shop owner was incomprehensible. Today, it’s reality. Welcome to the brave, new — consolidating — world of collision repair.
I’m Just A Bill: Why Not Get Involved?
On Capitol Hill, a lot of bills await their fate. And many of them — if enacted into law — will affect the profitability of your business. Why, then, aren’t more collision repairers actively involved in legislative activity?
Plastic Fasteners, Clips, and Auto Body Rivets
Items such as fasteners, clips and rivets may be small, but their impact on profits can be huge. Invest in too many, and you’ll end up with stuff you’ll never use. Invest in too few, and you’ll end up not having stuff on hand that you need.
Ending The Blending Debate
The issue isn’t about whether or not you should blend — make it a standard operating policy and just do it! The issue is about blending correctly, meeting vehicle owners expectations and getting paid by insurers.
The “Big 3” Interview
Reps from Ford, GM and DaimlerChrysler speak candidly about their plans, their problems and their predictions for the collision repair industry.