A vehicle hit our home causing extensive damage. the claim has been settled, however, one of the renovation companies , when they received their cheque from the adjusters, received their payment less the deductible. The renovation company has since been trying torecover the deductible from us. We have been trying to sort it out with the adjusters,(3 in the past year) with the understanding that the deductible should have been recovered from the party at fault. this is an ongoing dispute and now the company has gone to a collection agency, and we still believe we shouldn't be paying the deductible, which is a substantial amount since it wasn't even our fault to begin with. Who should be paying?
2007-01-05 05:08:56 · 9 answers · asked by R K 1 in Cars & Transportation ➔ Insurance & Registration
the vehicle insurance company or the owner of the vehicle,you may have to take them to court
your house policy company should be doing that for you,i think you may need to get on there asses and bug the hell out of them
2007-01-05 05:12:04 · answer #1 · answered by doug b 6 · 1⤊ 1⤋
The renovation company is entitled to the payment. You cannot tell them to go away and come back when the insurance company pays up. You must protect your own credit rating, and your very property by paying the deductible. At this point it is your debt. If you don't pay, the company can put a builders' lien on your home. It may not be your fault, but it sure as heck isn't the fault of the renovation company either. The insurer of the driver owes the same debt to you, and you can take action against them and the driver to recover the amount. Your home insurance should have been involved. I don't understand why they didn't handle the claim for you, and subrogate against the driver. Just a thought: was the driver insured by a company I can't name but may have "state" in the name? If your home company is having problems collecting, it is known amongst insurance companies that the ones with that type of name are harder to deal with on a company-to-company level.
2007-01-05 16:50:09 · answer #2 · answered by Fred C 7 · 0⤊ 0⤋
You need to file it under your homeowners policy. If you have a standard HO3 policy, damage done by vehicles to your home is covered. Your homeowners policy will then go after (subrogate) against the at fault party (the owner of the vehicle and the driver) and they will likely have to pay out of pocket. They will attempt to get what they paid plus your deductible back. Just so you know - even if the driver was covered, the auto policy would only cover actual cash value of the damages, meaning the damages would be depreciated due to age and condition so unless your home was brand new or in 100% perfectly perfect condition, you would have to pay something out of pocket, it could be a lot, I am sure it would be much more than your deductible. If you are insured on your homeowners policy to at least 80% of replacement cost, again, if you have a standard HO3 homeowners policy, your homeowners policy says they will pay replacement cost up to the dwelling limit on the policy. This is much better coverage. It would also be much easier to deal with your own company instead of trying to deal with someone else's. Good luck to you.
2016-05-23 06:09:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Whenever you claim thru your own company YOU have to pay the deductible. When the claim is completely settled your insurance company will go after the other insurance company for their money along with your deductible. When they get paid, they will send you a check for your deductible.
Being turned over to collection is going to ruin your credit, causing higher homeowners insurance premium, auto insurance premiums, harder time getting good rates on loans, etc. Make sure you pay them immediately.
You should have contacted your agent and asked them to explain this to you. If you go thru an online company and do not have an agent, get one. That is what we are here for.
2007-01-05 07:04:37 · answer #4 · answered by blb 5 · 1⤊ 0⤋
Here in the U.S. you are responsible for the deductible amount if you are using your own insurance. Could be that your company (if that's who you used) has not recovered any money from the other party or their insurance as of yet, hence, they have nothing to return to you, (your deductible amount). If this is the case I advise you to pay what you owe at once as a collection will trash your credit rating.
2007-01-05 05:25:27 · answer #5 · answered by Anonymous · 2⤊ 0⤋
You need to contact your insurance agent/adjuster and ask them to explain to you why you are being asked to pay the deductible. In a case like your's you should not have to pay the deductible (if your insurance company is any good at all). They should be going after the people at fault's insurance company for all monies owing/paid. If you do not get satisfaction with your claim I suggest switching to a different insurance provider.
2007-01-05 05:22:44 · answer #6 · answered by Anonymous · 0⤊ 1⤋
You have to pay the deductable out of pocket. Your insurance company will attempt to subrogate, or get it back, from the other insurance company. However, until that time, you are responsible for whatever was not paid due to the deductable.
2007-01-05 11:42:37 · answer #7 · answered by jerry 5 · 2⤊ 0⤋
Your homeowner's policy should recover the deductible amount from the driver's insurance policy. When they do, you'll get it back but in the interim you will have to pay it.
2007-01-05 05:18:30 · answer #8 · answered by Bostonian In MO 7 · 4⤊ 0⤋
They do. You may have to pay it first, but you can get it back later when the other side pays up.
2007-01-05 05:31:39 · answer #9 · answered by Kasey C 7 · 0⤊ 0⤋