I am fighting with my insurance company regarding fixing my motor on my boat. The insurance company already denied my claim. So now, I asked them for a second opinion and was told by the claims representative that I would have to pay for the second adjuster to come out. However, her boss did not tell me that I would have to pay out of my pocket for a second adjuster to come out and look at my boat. So I was wondering how much will it (might) cost me to have the second adjuster to come out.
2007-12-21 05:50:36 · 10 answers · asked by sestud69 4 in Cars & Transportation ➔ Insurance & Registration
I can't fix the motor on my own. I am not mechanically inclined plus a new motor would cost $8000 and then I still have 28 months left to finance the boat. Someone suggested that I sell the motorless boat to the marina that is currently housing it.
2007-12-21 06:46:39 · update #1
The insurance company said that the "risers" are worn. Risers only last 5-8 years. However, my marina said that the risers were fine. But water was getting into the engine which caused a loud knocking noise. The motor was just waiting for break down. Travelers said that risers are not covered under my policy. - Trust me, I am trying to cut my losses and I am trying to apply for a loan to pay the boat out right from the finance company. I don't want to have the boat repo becuase it will ruin my credit. My family is of absolute no help and 2 of my older brothers are wealthy and wont lend me a dime!
2007-12-21 08:04:19 · update #2
I did hit a rock in August 2002 would that have made a difference?
2007-12-21 14:46:07 · update #3
You didn't say what happened to the motor. That would give us a clue if there is any gray area in the claim that would make it worth your while to hire an outside adjuster (not affiliated with your company). You should have gotten a letter explaining the reason for the denial & citing the policy wording.
A few hundred dollars would be reasonable, sometimes they take a % of the claim, depending, you would have to look in the phone book under public adjusters & start calling to find out. But, if they are going to say "no way, that is not covered" then it is a waste of your money to hire them. So, the details would be needed.
2007-12-21 07:48:58 · answer #1 · answered by Sue 6 · 0⤊ 0⤋
Did the water getting into the engine cause the damage? If so, what caused that?
The insurance on the boat motor pays for accidental damage - IE- hitting a submerged stump and damaging the foot of the motor.
The policy will not cover any type of wear and tear issue or maintenance issue. So if the water getting into the motor is caused by any type of wear/tear or maintenance issue - that is not covered.
Regarding having a second adjuster come out: The company does not charge you to send another of their people out. They are probably talking about an independent appraiser (from a company like Crawford and Company). You may want to call them and see what they would charge.
The insurance company may be invoking an appraisal provision in your policy --- here's how that works:
You hire an appraiser and the insurance company hires an appraiser. The two appraisers settle on an umpire. A decision by 2 of the three is needed. You and the insurance company split the cost of the appraiser.
But before you get into all that - have your repair shop put in writing what caused the damage. If the repair shop says it's any type of wear/tear/maintenance of any part of the boat/motor - that will not be covered so you don't need to bother pursuing it any further.
2007-12-21 10:07:02 · answer #2 · answered by Boots 7 · 0⤊ 0⤋
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RE :How much do insurance adjusters cost?
I am fighting with my insurance company regarding fixing my motor on my boat. The insurance company already denied my claim. So now, I asked them for a second opinion and was told by the claims representative that I would have to pay for the second adjuster to come out. However, her boss did not tell me that I would have to pay out of my pocket for a second adjuster to come out and look at my boat. So I was wondering how much will it (might) cost me to have the second adjuster to come out.
Update: I can't fix the motor on my own. I am not mechanically inclined plus a new motor would cost $8000 and then I still have 28 months left to finance the boat. Someone suggested that I sell the motorless boat to the marina that is currently housing it.
Update 2: The insurance company said that the "risers" are worn. Risers only last 5-8 years. However, my marina said that the risers were fine. But water was getting into the engine which caused a loud knocking noise. The motor was just waiting for break down. Travelers said that risers are not covered under my policy. - Trust me, I am trying to cut my losses and I am trying to apply for a loan to pay the boat out right from the finance company. I don't want to have the boat repo becuase it will ruin my credit. My family is of absolute no help and 2 of my older brothers are wealthy and wont lend me a dime!
Update 3: I did hit a rock in August 2002 would that have made a difference?
Follow 11 answers
2016-08-17 18:09:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
My wife is a property claims adjuster. She makes about $75/hr. If you include travel, it usually comes to $200-$300. Even then, the insurance company can still deny the claim. Just fix the motor on your own.
2007-12-21 05:59:14 · answer #4 · answered by Anonymous · 0⤊ 0⤋
To have someone come out and look at it should cost you a couple hundred bucks. Ask your agent if he knows an outside adjuster that would do it for you, at a cut rate.
2007-12-21 08:35:09 · answer #5 · answered by Anonymous 7 · 0⤊ 0⤋
A second adjust from the same company would have a vested interest in giving you the same answer the first one did, and denying your claim.
If you really want to fight them, you will have to hire an attorney, and pay him up front to file, and even then the chances are you will lose.
I still would suggest you attempt to find someone to take over your payments, as is, and walk away from it.
2007-12-21 06:01:46 · answer #6 · answered by oklatom 7 · 0⤊ 0⤋
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