I believe that my insurance company is trying to rip me off by not paying up a reasonable amount to re-imberse me for a flooded kitchen.. They have offered a derisory amount and don't seem to want to know.. What is my next course of action..???
2007-06-16 04:46:22 · 7 answers · asked by john p 2 in Business & Finance ➔ Insurance
The big thing that will help you resolve this is communication. Here are my suggestions based on the hundreds of claims I have handled over the years.
1. If not already done get an item by item estimate from the insurance company.
2. Have a qualified contractor of your choice, qualified is the key here review the insurance company estimate. Unless you are a contractor your opinion will mean nothing. I'm not being rude that is just the reality of the situation. Have the contractor inspect both the damages and the company estimate.
3. The contractor should then write their own estimate, highlighting the differences between the two estimates. This may lead to a re-inspection of your kitchen.
4. email/fax/mail the contractors estimate to the insurance company. Trust me on this, they are much more likely to consider paying more when a qualified contractor points out the differences. This will work much better then when the home owner tries to get more money without documentation.
5. If that doesn't work talk to the claim manager. Be polite and professional yelling and screaming will get you know where. They will dig in their heels and you will get nothing. You might want to mention that you are considering filing an insurance commissioner complaint. Claim managers hate answering those complaints they take a ton of time to do and I don't know of any claim mangers with a ton of free time.
Most insurance policies prohibit suing your own insurance company over disputed claim amounts. Most policies also have an "arbitration clause" for disputed claims between the company and their policyholder. It is a long process that will only cost you time and money. Try to avoid it if you can.
Getting a lawyer or a public adjuster won't help either. The lawyer will cost too much and the public adjuster has to get the insurance company to pay 110% of the claim so the public adjuster gets their 10% fee and you still have money to repairs 100% of the damages.
Good Luck
2007-06-16 05:39:35 · answer #1 · answered by fighting saints 6 · 3⤊ 0⤋
John,
It sounds like 'Fighting saints' is reffering to claims handling in America so some of his comments are not really applicable- althopugh he is right about not shouting & screaming.
Write to them explaining why you feel the offer is too low.
If you are right you should be able to justify it with supporting docs e.g. brochures, estimates etc.
If you still have no joy and want to take it further you MUST go through the companies in house compliants procedure BEFORE referring it to the financial ombudsman.
The company has to provide you with a copy of their complaints procedure if you request it.
2007-06-19 12:10:17 · answer #2 · answered by Dan Insurance Man 2 · 0⤊ 0⤋
Reject it in writing, and ask for what you believe to be a REASONABLE amount to re-instate the kitchen.
You should not expect to make a profit on the claim
2007-06-16 04:54:41 · answer #3 · answered by Girlie Electrics 7 · 1⤊ 0⤋
Take it to the Financial Ombusman
http://www.financial-ombudsman.org.uk/
http://www.financial-ombudsman.org/publications/assessment-guide/first-annual-report/resolving-insurance-related-disputes.htm
they will give you free advice and are there to support YOU.
2007-06-16 05:23:00 · answer #4 · answered by IncoStress 3 · 0⤊ 0⤋
Fighting Saints is right on!
2007-06-16 11:04:34 · answer #5 · answered by DFK 3 · 1⤊ 2⤋
take them to the small claims court.
2007-06-16 04:55:51 · answer #6 · answered by lister_larger 3 · 0⤊ 1⤋
THEN SUE THE BASTARDS THEY DID THAT TO ME AND MANY OTHER PEOPLE YOU WOULD BE RESPECTED AND YOU WOULD WIN ALOT OF MONEY!!!!!
2007-06-16 05:00:54 · answer #7 · answered by Anonymous · 0⤊ 3⤋