the problem is i was paid value of car on sept 20th 06 which was 1100 dollars less than it was worth on nov 05.shouldnt i have been paid the value of it on the claim date. nov 2005?
2006-10-23 22:49:57 · 9 answers · asked by terry a 2 in Cars & Transportation ➔ Insurance & Registration
11 months later i was paid
2006-10-24 12:02:22 · update #1
Yes. The price they paid you should have been the value as of the date of the theft. Sue them in small claims court.
2006-10-23 23:03:58 · answer #1 · answered by SPLATT 7 · 1⤊ 1⤋
First, what makes you think your vehicle was worth that much more 2 months earlier? I doubt it would depreciate that much in 60 days. But if your claim is true, and it was worth that much more at the time of loss, indeed you do have a claim, since insurance is supposed to give you the value of the vehicle at the time of loss.
I'd start by asking (asking, not demanding) some questions about the amount of the settlement and how it was arrived at. Then go from there.
2006-10-24 05:40:33 · answer #2 · answered by oklatom 7 · 1⤊ 0⤋
YES. The value of the car is at the time of loss. Refuse settlement - dont cash the check - until it has been addressed by the insurance company. If you cash the check - youre done with any negotiating power.
2006-10-24 18:04:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Why did this take a YEAR to close?? This could be a simple oversight by the claims adjuster as the settlement amount should be the ACV of your vehicle at the time the loss occured. Try calling them and asking -- like I said, could be a simple mistake or could be circumstances that you are not aware of.
2006-10-24 10:44:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yeah, that's Insurance Companies for ya, quick to take our money, hate to give us any back! If it makes you feel any better, my insurers just wrote off my van because of a small dent on the fender, their reason?....it would cost more to fix than the value of the van! I would question why they haven't paid out the full value though. Best of luck!
2006-10-23 23:06:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If she has finished coverage she in basic terms has to report it to her business business enterprise and no funds will be due. The claims adjuster will anticipate a minimum of 30 days before contract in case the vehicle is recovered. even if it is discovered day after today, stripped and burned, then the coverage business business enterprise pays the commercial employer quickly. If she doesn't have coverage then she might want to ought to pay off the finished loan. however if she has coverage she might want to owe more advantageous than the vehicle is definitely worth -- then she might want to ought to shop paying the commercial employer until eventually the soundness is paid.
2016-12-05 04:14:49 · answer #6 · answered by silender 4 · 0⤊ 0⤋
Car's don't depreciate a lot within a month.
Check out nada.com or bluebook.com to check your actual cash value of the car. They ask your claim agent how he came to the price he gave you.
2006-10-24 04:32:28 · answer #7 · answered by PeppermintandPopcorn 3 · 0⤊ 0⤋
And the winner is the insurance company. Its called legalised theft
2006-10-23 22:52:38 · answer #8 · answered by Anonymous · 1⤊ 1⤋
lol yes
2006-10-23 23:03:38 · answer #9 · answered by Anonymous · 0⤊ 0⤋