by mastertrotter » Sun Nov 09, 2008 01:07 am
I was driving my truck and trailer,a woman pulled into my path,we collided totaling both.She was ticketed and found at fault.Her insurance was only good for$25000 , my damage estimates were over $100000,so I sued her. She filed bankruptcy, and got her debt dismissed.Allstate has never paid,and I want interest on the $25000 if I ever get it!
Posted: Mon Nov 10, 2008 12:12 am Post Subject: let me restate the crash
truck was 1997 ford,1998 horse trailer,racehorse on board appraised value of$90,000. all totaled. Total damages were$118,000. My insurance carrier told me, because I only had liability and no under insured policy rider. I would have to take her to court!
Posted: Mon Nov 10, 2008 08:54 am Post Subject:
that is kind of suprising to me if Allstate where soupose to pay you 25k and they have not paid and now you want intrest it is not such a bad idea but i advice you to do this in a legal way you are just an individual who a company is oweing 25k so i badvice you to go and see an attorny over this matter i belve the atorny will be able to give you an advice or even tell you to sew Allstate for not having paid you your money and the intrest depends on how long this money had been held by them
tank you that is the best i can say for now i will try to seek an attorny over this isue un your behalf and will tell you when i have done that to get you in the right track
Posted: Mon Nov 10, 2008 11:32 am Post Subject:
My insurance carrier told me, because I only had liability and no under insured policy rider. I would have to take her to court!
And they may be correct if allstate denied the claim...but why or what reason did they give you to deny this claim? OR did they pay their policy limits of 25k and now you are sueing their insured for the balance, is that it? Allstate will not pay if you have an excess suit out there, in fact they cannot pay until there is a judgement, and even then they can only pay what their limits are and no more, regardless of how many judgements you get....once you get a judgement lets say for 100k, then allstate will pay their limits (lets say 25k) then it's up to you to collect that additional 75k from the person that hit you personally...and if they filed bankruptcy good luck...sounds to me like more than likely you are going to end up with policy limits and a terrible lesson in protecting your own property...personally I wouldn't be on the road with a 100k rig that wans't insured (meaning collision and comp) because I could not afford that kind of loss...apparently you can...and good for you...but that's what it comes down to, allstate will pay their limit, and you'll have a heck of a time collecting the balance I'm guessingPosted: Mon Nov 10, 2008 11:55 am Post Subject:
Gosh I kind of find this unfair. First it was the other drivers fault . Then the person they hit does damage over $100,00. How does this person get the right to claim bankruptsy and just let the person they hit to swollow their own losses? I know a person should have insurance to cover theirself but its still unfair that you have to pay for damages someone else brings on you. Didn't they change these bankruptsy laws a few years ago? In cases like this lets hope.
Posted: Mon Nov 10, 2008 09:56 pm Post Subject:
I may be missing something here, but it appears as if the biggest value item was the horse. Was there any coverage on the horse separate from the auto insurance? Livestock coverage, a floater on the horse, anything? I have written coverage for valuable animals, and have never seen anyone own a horse worth that much and not have it insured. :? :? :?
Farmers/Rancher's policy? Any other coverage that might come into play?
InsTeacher 8)
Posted: Tue Nov 11, 2008 02:09 am Post Subject:
Didn't even think of the horse. Didn't even know you could cover one...wow. I am agreeing with Lori...if you have a horse at that value and a rig why not carry the insurance to protect them?
Posted: Tue Nov 11, 2008 10:57 am Post Subject:
I use to handle these types of losses...(cattle, livestock)...in fact one guy actually brought a poor injured prize bull to the claims office on a flat bed to show me the poor thing had a broken leg! and no I didn't ask for that...all I needed was a vet report! :roll:
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