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Had a truck that was in an acident, we had state farm and the other driver, had the same insurance co. It was decided that
they did not want to fix it. How can john q public be sure that
he was not manipulated, to settle for half of the value of the
truck? Was this a ploy to benefit the adjuster with a nice bonus?

Rose

2007-03-28 17:33:49 · 6 answers · asked by rose of 2 1 in Cars & Transportation Insurance & Registration

6 answers

No all insurance is regulated by the states Dept of Insurance. Find yours states and file a claim with them if you feel that you were wronged and they will investigate the company's practices.

2007-03-28 17:38:40 · answer #1 · answered by CheleS 2 · 1 1

1

2016-09-24 21:47:57 · answer #2 · answered by ? 3 · 0 0

The value is "an agreed value" and the party involved can argue that the settlement is not fair. You do not cash the check though in the meantime! You wait until a fair settlement has been reached! Most states have an Insurance Commissioner and this is a line of defense. Another line of defense is to take the insurance company to court and let a judge decide. Insurance adjusters do not receive a "nice bonus" for low settlements. "John Q. Public" is responsible for deciding if he gets a fair settlement as he is the owner of the vehicle. There is a wealth of info available on a vehicles value. It is up to "John Q. Public" to get this info and decide if he is being treated fairly or the offer is too low. Alot of insurance companies start with a low initial offer and if you accept it it is your fault!

2007-03-28 17:44:29 · answer #3 · answered by know da stuff 4 · 0 0

Insurance is regulated at the state level. Check your state government website for your state dept. of insurance.

Here is the link for California's DOI
http://www.insurance.ca.gov/

Usually, your insurance company's adjuster will assess the amount of damage and determine a repair cost based on a time and materials rate manual.
Depending on what kind of insurance coverage you have purchased, if the vehicle's depreciated value is lower than the repairs would cost, they may or may not pay you for the full repairs.
It sounds like you have a dispute of the salvage value of the truck and/or the cost of repairs. You might want to find another damage assessor to give you an independent repair estimate. If you have photos or other ways to determine the value of the truck before it was in the accident, you can contest the salvage value determined by State Farm.

You should be able to appeal their decision to State Farm, or contact your insurance commissioner for arbitration.

2007-03-28 17:52:36 · answer #4 · answered by Tom-SJ 6 · 0 0

You need to contact the Insurance Commission, it will be listed under state govt headings. The insurance adjuster works for the insurance company, not for the claimant. They are there, to save the company money, not you.

2007-03-28 17:43:20 · answer #5 · answered by fisherwoman 6 · 0 0

Every state has an insurance commissioner. He manages the state dept that oversees insurance of any kind in the state.

2007-03-28 17:39:53 · answer #6 · answered by TedEx 7 · 1 0

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