My husband got a speeding ticket and got 2 points on his liscense, please read? |
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Is $1600 a fair offer for a accident settlement? |
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Who is responsible to pay the extra? |
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Insurance Help? |
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Homeowners Insurance? |
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I have had Brain Surgery and I have had an Organ Transplant within a 5 year period. Am I eligible for any? |
Governmental assistance? Additional Details I am male (white). Had a Hemorragic Stroke. Live in
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regardless777 | How Can I Fight an Unfair Insurance Company? |
I was hit and injured while I had the right of way on a road by an underinsured driver. We are both insured by the same company. My motorcycle suffered damages assessed by my authorized Honda mechanic to cost $10,900 to repair. However the repair estimate the insurance company states is $11,700.00 and declared my cycle a total loss and initially offered me $9000.00 to settle, using "AutoSource" as their source to determine the cycle's valuation. I provided the insurance company with a list of aftermarket parts totaling $8400.00+ that I had either had installed on the Wing, used in the course of its operation. They accepted receipt of the list but later ignored it, later offering $12,700.00. They claim their reason for not agreeing to have the cycle repaired is that regardless of the Honda mechanic's assessment, additional damage and expense "might" be noted.
How can I fight the insurance company and get compensatory damages from them? |
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OneManWrites
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I'll answer following your question sentence by sentence. Your mechanic has a lower estimate than the insurer...Well, estimates are, in fact, "estimates". The appraiser for the insurer may have seen additional damage, or their could have been a part price increase. Or, the mechanic's estimate was for structural and mechanic repair but did not include aesthetics such as blending paint to match faded, old paint. The insurer can't estimate damages to repair a vehicle halfway - they have to write the cost to repair it completely. By the mechanic's estimate or theirs, your vehicle would still be totaled. This is because of the likelihood of additional, hidden damage that could be found in the middle of repairing the bike as well as other elements of a property damage claim, such as loss of use of the vehicle.
Next, you say they offered $9000 to settle. This may well be the valuation "AutoSource" listed. But that's all a "book value" is - a number from a list. Ask the adjuster to show you the AutoSource valuation if you are curious. A book value cannot take into account factors such as the condition of your individual vehicle, not to mention aftermarket refurbishments. And, finally, adding $8400 in aftermarket parts does not make the vehicle worth $8400 more. Whatever you add to the bike, it is still a used version of the bike the manufacturer built. Essentially, the insurer will pay you what the market will bear for your bike as it was just before the accident - Market Value. It's a negotiable amount. So if you want to "fight" the insurance company, bring something to them showing that it is worth more than they offered. Find your own "book value" or some comparable vehicles sold recently.
By the way, you called those "compensatory damages". Interesting you use the term. After all, the insurer's job here is to "compensate" you for the value of what you lost. You think they owe you more? Why? Think about "why" and then bring the answer to the insurer with documentation to back your assertions. |
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529s.com
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You are not going to get the full price that you paid for the bike. Insurance companies factor in depreciation. Just like with a car, a used bike is worth less than a new bike. |
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rkallaca
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You have to get a lawyer. Insurance adjusters are the scum of the Earth and will do anything to low-ball you. Don't look to your insurance company for help because these guys watch out for each other. Lawyers are the only way to get their attention, I'm afraid. |
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matahari
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... |
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kmgoddessxxxx
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get a lawyer and cont back down! |
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frameking
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First of all, if you hire an attorney he/she will typically take 1/3 of the settlement, so you will net less. I'm not clear if you want your bike repaired, or you just don't agree with the company's offer. If the cost to repair exceeds the actual cash value, it's not repairable, and the company owes you the actual cash value. This is basically the amount of money you could have sold the bike for the minute before the accident. A lot of times putting all that aftermarket stuff on the bike doesn't make it worth more.
I would suggest checking ads for similar bikes for sale. Find as many bikes that match yours as closely as possible and see what the asking price is. If you can find a few that are for sale at a price of $15,000 for example, provide that to the company to show their evaluation is too low. You have to have some kind of substance to fight this. Simply "getting an attorney" or continually disputing them will not change their minds.
Hope this helps. I was in the claims business for 15 years and got out to do something totally different. I got tired of dealing with the crappy insurance companies! |
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Arnie Sherr
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Every State has an Insurance and Banking Commission. It may be a good idea to contact them for an explanation of your State's laws regarding compensatory damage settlements.
Another; Most Attorneys, especially for accident cases, offer free consultations. I dare say, contacting an Attorney immediately after your accident should have been your first move.
There is an old saying; "A person who represents himself has a fool for a client". Generally in accident cases, attorneys charge on a contingency basis. That is to say, they are compensated based on a percentage of the settlement they secure from your insurance company. Rarely do these cases go to Court. Most times insurance companies prefer to make settlements. Your claim may include additional issues such as personal injury and punitive damages such as loss of employment, etc.
Did you accept the insuring company's offer? In any case, contact a lawyer, right away!!!!!!
Good luck. |
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