Auto insurance claim check - When is it issued?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Wed May 20, 2009 10:05 pm   Post subject:   

Quote:
THAT IS FOR YOUR STATE!!!!!




NO Einstein, read it AGAIN...it's for YOUR state...right straight from the Fair Claims Practices for the state of CA....geeeeeeze dude, either educate yourself, or at least read the post...or stop this...did ja' miss this part ?? it's right at the beginning, remember I promised links and everything Rolling Eyes
Quote:
[b]CA fair claims practices state (in part here's the link http://www.insurance.ca.gov/0100-consumers/0060-information-guides/004 0-residential/fair-claims-settlement-regs.cfm)




Clearly you either have not been in this business for very long AT ALL...simply didn't absorb what you were taught, or thick as a brick I can't decide which....Seriously Dude, what's your problem? You're wearing me out with your over zealous INCORRECT information..what gives? ...this is the state of CA not Missouri....remember the state you have under your name? How on earth do you NOT know this?



Now what will your response be? Seen it in other states? (none by the way) Rolling EyesRolling EyesRolling Eyes







hergwapo, I believe you are talking about diminished value, think I mentioned that to him as well...BUT in order to claim diminished value you HAVE to have the vehicle repaired...


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Wed May 20, 2009 11:33 pm   Post subject:   

I

Quote:
I did look up diminished value claims for Washington, and they do have to honor one, however that cannot kick in unless your car is repaired...




That statement is definately innacurate in the state you are employed, and I would be willing to bet if I read the measure of damages for Washington that it would be likewise in Washington.



Quote:
If you make a claim under someone else’s policy (e.g. your auto is damaged because someone else hit you),

Missouri courts have included diminished value as recoverable damages - Rook V. John F. Oliver Trucking

Company, 566 S.W.2d 200 (Mo. App. 1977). In this case, the court said the amount of damage should be

measured from the fair market value immediately before the collision and the fair market value immediately

after the collision. However, if repairs have been made to the auto as a result of the accident, the court said

that the dimished value should be the difference between the fair market value immediately before the collision

and the fair market value after the repairs.
What is Actual Cash Value?

The insurance company is required to pay the fair market value of a vehicle. The fair market value of your

vehicle can be found by surveying dealers in your area, receiving information from recognized groups such as

“CCC”, “ADP AutoSource”, or one of the industry guides, such as “NADA” to determine the average retail

price. When disputing the company’s offer of settlement, it is up to you to prove that your vehicle is worth

more than what the company is offering.

The insurance company will adjust the value based on physical wear and tear as well as any pre-existing

damage. If the company determines some replacement items are better than the ones damaged, they may

apply “betterment.” Betterment is an improvement that increases the value of property and is more extensive

than mere repairs. You would be responsible for those charges. For example, if the tires are damaged or the

battery or mechanical parts must be replaced, the company may replace new for old. The betterment would

depend on the age of the older item being replaced.




In other words the measure of damages included diminishment of value regardless of whether you repair the damage or not.

_________________
Register Now to have your Insurance queries solved.
DV inspector
Guest







PostPosted: Thu May 21, 2009 11:45 am   Post subject:   

Quote:
That statement is definately innacurate in the state you are employed, and I would be willing to bet if I read the measure of damages for Washington that it would be likewise in Washington.
Mike, all the info I read, (re: washington state) had the working, 'repaired', or diminished value 'after repair'....Good Lord knows I couldn't read everything that's printed about it....You know better than I how to find this information, if you have time and can check on that for the OP (re: Washington's regulations for DV, if vehicle does not have to be repaired). I'm sure he would be much obliged..(and so would i Wink )


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Thu May 21, 2009 6:23 pm   Post subject:   

Lori, you sound a little stressed in your posts of late. Have they been making you work storm claims down here in the southern part of Missouri? I know we've been covered up with tree limb damage and vehicles that were converted to lowriders from the weight of sycamores and oaks. I'd be disappointed if you got this close and didn't stop by for a cup of decaf. I'm working on getting that Washington state info.



_________________

If you can't find the time to do it right, how will you ever find the time to do it over.
MikeoftheOzarks
Senior member
Leave a quick message



Joined: 10 Feb 2008
Posts: 605

Location: in the missouri ozarks
193.97 Dollars($)

PostPosted: Fri May 22, 2009 2:33 am   Post subject:   

Quote:
Lori, you sound a little stressed in your posts of late.
Just in reponse to a few (or maybe one Wink ) My post in reponse to yours wasn't meant that way AT ALL Mike, sorry if you took it that way...(seriously)...
Quote:
Have they been making you work storm claims down here in the southern part of Missouri?
No, we are of course under staffed like all claims dept. we got hit with a storm up here last friday...but no, no more stress than the past year.. Wink
Quote:
I know we've been covered up with tree limb damage and vehicles that were converted to lowriders from the weight of sycamores and oaks.
WinkLaughing
Quote:
I'd be disappointed if you got this close and didn't stop by for a cup of decaf
Believe it or not Mike, I wouldn't get near the big "J" without looking you up...that my friend is a promise.
Quote:
I'm working on getting that Washington state info.
Thanks Mike.


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Tue Jun 09, 2009 7:12 am   Post subject: Can I keep the money from a car accident claim without repai  

Recently, someone backed into the side door of my car. Their fault. YES I OWN THE CAR! They did approx $2,000 worth of damage. The adjuster came out & estimated the damage & sent a check for a small amount. Its currently at the body shop now for an final estimate. However, I am not sure I want to repair the car. When I told the adjustor on the phone today that I am @ the repair shop getting a final estimate. He got pissy & said, "i already gave you an estimate, so you dont need another estimate. they are just looking to see if there is anymore damage and if there is I will write them a supplement check to fix it." I said, "ok well I don't care if it's called an estimate or a fart, I will get all that is owed to me." Do I have the option to just keep the money and live with the damages or do I have to have the vehicle repaired in order to go through with the claim? The adjustor is making me feel like I have to get it fixed and he is making it seem like he wont write a check to me, ONLY to the shop. How do I fight this is he give me problems?



There are other adjusters & people in the "insurance" business on Yahoo answers trying to tell me that, the adjuster will pay the body shop to repair the damages and if I decide against repairing my car OH WELL I'll just have to settle for the original small check from the first estimate.



IS THIS TRUE OR JUST SOMETHING THEY WANT TO MAKE YOU BELIEVE? HOW DO I GET AROUND IT?


_________________
Register Now to have your Insurance queries solved.
Mistress Vanessa
Guest







PostPosted: Tue Jun 09, 2009 7:32 am   Post subject: Thanks for the fair claims post  

Lori you're WONDERFUL girl :: does it say in FLORIDA I'd have to repair my car?


_________________
Register Now to have your Insurance queries solved.
Mistress Vanessa
Guest







PostPosted: Tue Jun 09, 2009 7:41 am   Post subject:   

Well, no one can actually force you to repair the vehicle. Ask the adjuster if she can be at the bodyshop when they would tear down the vehicle. It'd save a lot of time on both parts.



BTW, have you obtained her estimate and checked for missing information?

simon
Senior member
Leave a quick message

simon

Joined: 28 Sep 2005
Posts: 543


93.69 Dollars($)

PostPosted: Tue Jun 09, 2009 11:56 am   Post subject:   

Quote:
Do I have the option to just keep the money and live with the damages
yes,
Quote:
or do I have to have the vehicle repaired in order to go through with the claim?
no..
Quote:
The adjustor is making me feel like I have to get it fixed and he is making it seem like he wont write a check to me, ONLY to the shop. How do I fight this is he give me problems
Well, I guess I don't understand by what you mean by 'final estimate'...is the shop tearing down the vehicle to make all potential damage visable? Does the shop know that you have no intentions of having them repair your vehicle? If not then you can bet the shop is going to charge you for their time, and disassembly and re-assembly if that's possible...I guess what I need to know to help you out is ... What did you tell the shop when you dropped off your vehicle? And what did they tell you?

Most of the time, if a vehicle is left at a shop, to be torn down for a complete estimate, the shop likely thinks they 'have the job'...when removing damaged parts the utmost care is not given UNLESS the shop KNOWS ahead of time that they will have to put these damaged parts back on the vehicle...they also will not do this for free...so let me know what you told the shop...
Quote:
There are other adjusters & people in the "insurance" business on Yahoo answers trying to tell me that, the adjuster will pay the body shop to repair the damages and if I decide against repairing my car OH WELL I'll just have to settle for the original small check from the first estimate
This could (and is most of the time) be true in first party claims, not in third party which is what your claim is...



Exactly what 'kind' of damage are we talking about here? Look at the estimate the adjuster wrote, how much was it? What are the parts being repaired or replaced? That might help me try to figure out what the shop is doing....


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Fri Jun 12, 2009 9:56 pm   Post subject: Having some similar issues  

A person hit me, and my insurance adjuster came and estimated it at around 1500 minus 500 for our deductible. They issued a check out in my husband and the car repair place name. We wanted to wait to get it fixed b/c of our deductible and the agent said that if we could work it out w/the repair place he didn''t see a problem w/us just depositing it in our bank account until we are ready. But the car repair place doesn''t want to endorse the check. Is there a way to get another check issued? The agent said that we would have to wait for the other check to expire (150 days from the date of the check). Any way around this? What would we have to do? We are in CA. Thanks!!')

Mikasweet
New member
Leave a quick message



Joined: 12 Jun 2009
Posts: 2


1.78 Dollars($)

PostPosted: Fri Jun 12, 2009 11:53 pm   Post subject:   

Mikasweet, your agent is a bonehead. Or I'm guessing that you were not speaking to your agent directly and only someone occupying a desk.



I'm guessing you have a lien on the vehicle? If so, the check either needs t have the body shops name or your lien holders name on it. Both are going to require that the vehicle be repaired before they will sign the check. Your insurance company has a legal obligation to protect the vehicle for your lien holder. That is, they need to make sure that the money is _only_ used to repair the vehicle. As long as your going to do this, there is no reason that one of those parties cannot be on the check.

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 6175

Location: Salt Lake City, UT
375.37 Dollars($)

PostPosted: Sat Jun 13, 2009 1:10 am   Post subject:   

LOL Welll who's to say it wasn't him. But there isn't a lien holder on our car its paid off. Also if we wanted to make sure that we are getting the best deal when it comes to repairs we wanted to look around. I don't know, they just put it in their name and picked them.

Mikasweet
New member
Leave a quick message



Joined: 12 Jun 2009
Posts: 2


1.78 Dollars($)

PostPosted: Sat Jun 13, 2009 3:03 am   Post subject:   

If there is no lien on the vehicle then the check should be made payable to the owner and only the owner. Only reason why not is if you agreed to take it to preferred shop. Even then, you can still return the check and ask for a new one in your name only. This can be done at any time.

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 6175

Location: Salt Lake City, UT
375.37 Dollars($)

PostPosted: Sat Jun 13, 2009 2:30 pm   Post subject:   

As long as they receive the check back, there is no reason for them to not issue a new one. I was dealing with a company that issued me a check that had my name grossly misspelled. So bad, in fact, that the bank would not allow me to cash or deposit it! I called the company and explained the situation and was told that they would have to let the check expire (in this case 90 days) and then they would send a replacement check.



I, of course, jumped all over them and sent the check back registered mail and had a new one in my hand within the week.



The more I think about it though...if a company sends a check (refund, reimbursement, etc.) and then somebody believes them that they have to wait 150, 180 days or whatever...GENIUS! This is one way to help with cash flow on the business end...an interest free loan for 6 months!



Good luck!

ChrisBantly
Senior member
Leave a quick message



Joined: 11 Mar 2009
Posts: 381

Location: Upstate SC
1.16 Dollars($)

PostPosted: Sun Jun 14, 2009 12:17 pm   Post subject:   

It's ridiculous for any carrier (P&C) to tell you that you have to wait for the draft to expire, with a couple of keystrokes, they can ascertain the draft has not cleared a couple of more strokes and they stop pay that draft, few more and they have reissued another draft in it's replacement...bing,bam,bomb, your'e done...I have to do this for one reason or another, about 50 times a year probably...the whole thing takes maybe 5 minutes.



I agree with T if their is no lein holder, and the carrier knows this, your name is all they need to put on the draft, if the carrier still shows a lein holder, (that too happens a LOT), then you will have to prove the lein's released, which is easily done by faxing a copy ofthe lein release...



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

All times are GMT
 Previous  1, 2, 3  Next  
Page 2 of 3


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.407 seconds.