OEM (Original Equipment Manufacturer) Parts that are manufactured and sold by the maker of your vehicle.
LKQ(Like Kind and Quality) or Recycled – This is also known as a recycled part. These parts are from the undamaged part of a total loss vehicle. These parts usually come more complete(i.e. Door comes with glass and all hardware) which makes them more cost effective for the repair. They are also a better repair option than after-market items.
A/M or QRP - These are parts made by manufacturers, other than the vehicle manufacturer. It is much like buying a Fram filter, instead of going to the dealer. These parts are helpful, when the OEM parts are no longer produced, or the cost of OEM is cost prohibitive.
Total Loss - A term used to describe a vehicle that would cost more to repair than the vehicle is valued at.
Deductible - The portion of repairs the customer is responsible for (i.e. $500, $1000). The customer selects this amount when purchasing insurance. Insurance will pay the amount of the repair minus the deductible. The deductible is paid to the repair facility when the repair is completed.
Appearance Allowance - This is an amount subtracted from the deductible in exchange for the owner agreeing to concessions. Example: An interior trim panel may be scratched and you agree to a $50 appearance allowance. If you have a $250 deductible, you would only have to pay a $200 deductible. These are only offered on cosmetic damage, and will depend on the value of the part, as well as your insurance company.
Betterment/Depreciation - If an item is deemed to be a wear item (i.e. Shocks, batteries, tires, you will be charged a percentage of the amount to replace that item based on its life expectancy. Example – A tire with 10/32nds of tread when new, is damaged and has 5/32nds of tread left, the customer would be charged 50% of the cost of the tire. This decision is completely at the insurance companies discretion.
Direction to Pay - authorizes the insurance company to pay the repair facility for the repair costs associated with your claim.
Authorization - This form authorizes the repair facility to perform the repairs to your vehicle. It must be signed prior to repairs beginning.
Supplement – This term is used to refer to additional parts and/or labor found after the original estimate.
Hidden Damage - Damage discovered after the vehicle has been disassembled.
