I was in an accident in June (someone hit me from behind) and my car was totalled. The accident was considered no fault of my own, and I am owed a $500 deductable from my car insurance co. Here it is November and I have been calling and calling, but they keep telling me it is a long process. We're ready to switch companies, but we of course want our money. How long does this sort of thing normally take?
2006-11-03 13:37:26 · 7 answers · asked by kath_08012 3 in Cars & Transportation ➔ Insurance & Registration
Your deductible comes from the other driver's liability coverage. When your insurance company collects, they will refund it to you. If he has no insurance, you will get your deductible back if they collect from him.
2006-11-03 14:20:21 · answer #1 · answered by Fred C 7 · 1⤊ 0⤋
Subrogation can take 6 months to a year. You cannot get your deductible back until your insurance company actually gets the $ back from the other carrier. It IS a very long process sometimes. Really the holdup must be on the at fault party's insurance company's end. This is not something that is worth you switching insurance over. Don't you think that your company wants that money back even more than you want your deductible?
2006-11-03 20:32:01 · answer #2 · answered by Chris 5 · 2⤊ 0⤋
Chris is dead-on. If you're talking about getting a deductible back when someone else was at fault, you're carrier is seeking subrogation from the other carrier and it has nothing to do with your carrier but the other carrier. Believe me, your insurance company has a larger vested interest than you do because if your car was totalled, they paid all that money for your car and will be seeking all that back plus your deductible. Like Chris said, they want the money just as bad as you do. Subrogation is VERY important to all carriers. Don't switch. Call your carrier, ask them what the status is, they should be able to tell you. They may switch you to the subrogation department for more information, though. (Things to know, when doing subrogation, a lot of factors come into play, they need to submit proof, argue liability, negotiate settlement and then receive and issue payments appropriately.)
2006-11-04 07:27:52 · answer #3 · answered by Infinity606 3 · 0⤊ 0⤋
Your company doesn't 'owe' you $500.00. They will attempt to subrogate the other party and/or their insurance company for the entire amount of the claim. IF they are successful they will return your deductible amount to you. This process sometimes takes a very long time.
2006-11-03 15:50:10 · answer #4 · answered by Anonymous · 2⤊ 0⤋
I have experience in the medical field. When people would come in after a car accident it would take a long time for them to get paid. The insurance companies would try to not pay out. It is often necessary to get an attorney. In every instance at my office, the patients ended up getting an attorney because we are not taken seriously unless we have an attorney. It is like that with all insurance companies.
2006-11-03 13:47:16 · answer #5 · answered by ht98 2 · 0⤊ 2⤋
A long time, but not that long. Here's two magic words: insurance commissioner. Either use them in conversation with your insurance company, or call the i.c.'s office.
2006-11-03 13:45:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It took my friend over 18 months to get his $250 deductable back.... he had state farm....
2006-11-03 13:59:44 · answer #7 · answered by Jorge W 2 · 0⤊ 0⤋