2006-12-03 02:18:39 · 9 answers · asked by Orphans 2 in Business & Finance ➔ Insurance
My home was destroyed in Aug 2005 and we lost 35 years possessions including a clock collection of some 550 clocks.We followed all the rules never claimed for anything we did not have but to date they have not settled on the contents side.
We got the majority of prices off ebay but they still dispute the prices.
Then they told us to take it to arbitration but so far it has taken 4 months to even answer our solicitor.
Not a nice company would you say.
Can you win with a big company like AXA
2006-12-03 05:09:36 · update #1
My policy stated Contents Unlimited and also I provided them with photos of all possessions before and after the fire. I have already proved to them that what I claimed for I actually had.
eg: I had a collection of books bought 30 yrs ago for about £30 some out of print each offered 15 euro each
300 old Cigarette Lighters offered 30 euro for the lot
Collection of computer software Value 5000 offered 40 euro
The above are only a few of the items in dispute.
2006-12-03 08:47:29 · update #2
Because they're lying cheating scumbags, probably.
2006-12-03 02:21:19 · answer #1 · answered by mcfifi 6 · 1⤊ 0⤋
AXA is not a very reputable carrier. If they have not settled your claim yet, you need to get a lawyer who specialized in fighting insurance disputes and take them to court. Once they know you are going to sue, they will most likely offer a settlement you are happy with. It is sad to have to say this, I am an independent employee benefits agent and work work with many carriers. Unfortunately, there are many carriers out there who we in the industry know are not good about paying claims. The insurance I work with is different from your homeowners insurance, but the issues are still the same. We as brokers do as little work as possible (don't sell) with the carriers we know to be unfair. Unfortunately, those carriers usually 'buy business'. In other words, their rates are so low that our clients often ask us to quote them. If their decisions come down to the lowest quote, then there are always problems later on... as you can attest.
Make sure you have exhausted the appeal process and have reviewed your policy very carefully with the carrier before you go legal. If they are telling you that you have to use their arbitration method, you don't. You can always take them to court.
2006-12-03 16:34:18 · answer #2 · answered by onlyupfrmhere 2 · 1⤊ 0⤋
Unfortunutely, so many people rip them off that they have to protect themselves from fraudulant claims from dirt bags that are trying to make a profit off the insurance company, and their loss (if they really even had one). People like you have to pay the price of providing extra information so that the crooks of the world stop getting away with scamming insurance companies and getting our rates raised.
Certainly, since you are being honest, you will "win" If it seems as it is taking an unreasonable amount of time with no answers, contact the Insurance Commissioner in your state and file a complaint. Nothing gets an insurance company to settle a claim quickly, and to your liking, than getting the Insurance Commissioner involved.
Not all Insurance Companies are greedy, they are just have to make sure that you have a valid claim. It will all work out.
2006-12-03 16:46:09 · answer #3 · answered by Susan C 3 · 2⤊ 0⤋
Well, the PROBLEM is, you didn't go to your agent in advance, sit down with them, and say, Hey, I have this CLOCK collection worth $500,000.
So now that there's a loss, it's pretty darned hard to prove that 1. you owned them, 2. what they were worth (old stuff has VERY variable prices, ya know? 3. that they were in working order. You DIDN'T have them insured properly to begin with, so that's why you're having a hard time.
Insurance companies don't want to pay out for a Bently, if you tell them up front you have a Ford. Sorry, it's just the way it is.
BTW, if you DID tell your agent up front, you have a professional liability claim against them, for not insuring you properly.
2006-12-03 16:31:26 · answer #4 · answered by Anonymous 7 · 1⤊ 2⤋
Did you think they were in it for their health? It's a business, and they will do the minimum they have to do under the law to keep their money. What would you do, give it away without investigating every claim until you are broke?
2006-12-03 11:00:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They love to take your money but when it comes to payouts there are delays and excuses coming out of their yinyangs!
2006-12-03 15:07:22 · answer #6 · answered by Gone fishin' 7 · 1⤊ 1⤋
Same as every other private company - they only exist to make money so they're obviously going to protect their profits in a ny way they can. Plus they're evil!
2006-12-03 10:22:19 · answer #7 · answered by somekindahero 2 · 1⤊ 1⤋
It's all down to MONEY.
2006-12-03 10:21:21 · answer #8 · answered by Anonymous · 1⤊ 0⤋
One word ...GREED
2006-12-03 10:24:49 · answer #9 · answered by R W 6 · 1⤊ 1⤋