i got insurance through a local agency. they gave me gmac insurance. the problem is this. the company i originally went to goes by (i was told by my agent) kelly blue book. gmac, however, wants to go by nada. a $2,000 difference. that's a lot of money in my book. ( a brand spankin' new hearing aid! ) how do i get the difference?
2006-06-10 08:59:12 · 3 answers · asked by Anonymous in Business & Finance ➔ Insurance
car insurance.
a deer committed suicide with my volvo.
2006-06-10 18:09:03 · update #1
Are we talking about a claim? I don't know of ANY insurance companies that base the value of your car solely on NADA or KBB. They usually subscribe to a service that considers that, plus salvage value, PLUS the local classified ads to see what the car usually sells for on a private party basis in your area.
Your agent can and should "go to bat" for you with the company, as long as you can provide them with ads from your local paper, showing that your car usually sells for XYZ more than you're being offered for it.
If you want to avoid the problem next time, ask your agent for an "agreed valuation" clause on your policy - ie, you and the company agree up front exactly how much your car is worth in case of an accident. Of course, this clause costs a lot more than the usual "actual cash value" clause you find on the standard policy. But at least you won't be arguing with them about what your car is worth.
2006-06-11 16:00:40 · answer #1 · answered by Anonymous 7 · 2⤊ 0⤋
what type of claim is this ? Your policy is with the insurance company not your agent or broker, it appears your broker is trying to keep some money for thierself.
If you can get a settlement directly from your insurance company and do not like the one that your broker is offering, merley hire an attoreny and sue them for a greater amount than either is offering
2006-06-10 15:46:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your coverage should be clearly stated in your policy. After the deductible it is their responsibility to restore your car to its pre-accident condition or pay its value less the deductible. Find comparable values in your area at used car sales and local ads. Present them to your insurance company. Its easy to let them do what they do best which is paying as little as possible.
2006-06-11 03:00:05 · answer #3 · answered by DramaGuy 7 · 0⤊ 0⤋