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 Posted: Wed Apr 22, 2009 8:38 pm Post subject: Should the insurance still charging me after totaled my car? |
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my car was declared totaled by my auto insurance company about a month ago, and the car is currently somewhere in their storage place. we have not yet to be able to reach a settlement agreement.
should the insurance company still charging me monthly payment while my totaled car is at their storage? |
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sillyana703
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| Posted: Wed Apr 22, 2009 8:53 pm Post subject: |
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| Did the insurance co pay you for your car yet? Is the car still registered to under your name? If the car still has your plates on it and is still registered under your name and you have not transfered title to the car to the insurance co. this could make all the difference. |
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Chad
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| Posted: Wed Apr 22, 2009 10:43 pm Post subject: |
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| If you own the vehicle and it has tags on it, you are probably required to keep the insurance. Once the total loss is settled you can call the carrier and ask that they back date the removal to the date of the accident. |
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tcope
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| Posted: Thu Apr 23, 2009 12:59 am Post subject: |
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Yes. They offer me a ACV settlement which is about $1300 apart from the Nada value, and they are trying to force me to accept it by not taking my calls or returning my calls.
They using CCC total loss Valuescope to value my car's ACV, which I found many flaws in the program from the report they gave me.
Since I could not agree on the amount they offered. the car still under my name
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sillyana707
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| Posted: Thu Apr 23, 2009 3:07 am Post subject: |
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| If the car is still in your name and registered by you with the plates still active yes then can make you keep the insurance on the car and keep charging you for the insurance on the car. |
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Chad
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| Posted: Thu Apr 23, 2009 5:56 am Post subject: |
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| Quote: | | Once the total loss is settled you can call the carrier and ask that they back date the removal to the date of the accident. |
Would the OP get back the premiums that he has paid on the car for the period? |
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kelvin
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| Posted: Thu Apr 23, 2009 10:29 am Post subject: |
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| Quote: | | Would the OP get back the premiums that he has paid on the car for the period? |
If the removal is backdated, yes. |
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tcope
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| Posted: Thu Apr 23, 2009 9:25 pm Post subject: Things they wont tell you |
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They won the first round because they took possession of your property before they paid you for it.
It is one of their common ploys. They call it "convenience" - maybe even "concierge" etc.. Now they hold the vehicle ransom and you can''t get them to settle. There''s a big surprise.
What you need to look at are your exposures if you do pull the insurance from the car. (what could you be responsible to pay if your car does damage.) So - What harm can the car do? Could it burst into flames and burn other folks stuff? Have they cut or disconnected the power cables on the battery? If not - call them up and instruct that it be done.
Otherwise hmm let''s see - maybe they can "allow" your vehicle to be stolen. Not bloody likely, but it could happen. Still they'd owe you for the damage that occurred under the policy when it was active.
In most states whether functional or not, whether it has license plates or not - you do not have to insure any vehicle you own if it is not being operated on public highways. Period.
Cancel your policy if you want. They still owe you. If *they* cancel *you* - it shows up on your "permanent record" they told you about in gradeschool and effects the rates you will pay the next insurer.
If you have paid up in advance - get a refund on those unused premiums.
Now to the database they use. It is my experience that you are right, it is often incorrect. It is also my experience that it is incomplete and compromised, additionally it is easily and often used improperly. They like it that way.
Many times the comparable vehicles are NOT comparable and many times the comparable vehicles don't even exist. Demand the report (a requirement of most state laws that they provide it upon your request - free BTW) and call on those comparable vehicles.
Heck - go look at them.
Most states have requirements that the vehicles be within a specific distance from YOU. Say 50 miles - which is a long way to go to look at a car. If that car isn't in that range - it is not a comparable vehicle. Companies have been successfully pursued for using this system of valuation "against" the consumer.
Also, many if not all states require the insurer to pay all sales tax, title and license transfer fees.
Bet you'd never hear any of that from an insurer's employee. LOL.
Use common sense - don't let them use your money against you.
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Wade Ebert
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| Posted: Thu Apr 23, 2009 9:30 pm Post subject: Incidentally |
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My ability to post under the name I previously used "Wade Ebert / Shop Owner" has apparently been blocked by the moderator - real nice.
But again - no surprise.
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Wade Ebert
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| Posted: Thu Apr 23, 2009 11:02 pm Post subject: |
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| Quote: | They won the first round because they took possession of your property before they paid you for it.
It is one of their common ploys. They call it "convenience" - maybe even "concierge" etc.. Now they hold the vehicle ransom and you can''t get them to settle. There''s a big surprise. |
It's usually called "limiting storage charge so that the owner does not need to pay the difference between reasonable charges and actual charges"... it also requires the owners permission. Lastly, it does not change anything. If the OP wants the car back, they can certainly feel free to have it picked up.[/quote]What you need to look at are your exposures if you do pull the insurance from the car. (what could you be responsible to pay if your car does damage.) So - What harm can the car do? Could it burst into flames and burn other folks stuff? Have they cut or disconnected the power cables on the battery? If not - call them up and instruct that it be done. [/quote]It can also be illegal. Consult your own states regulations. They usually state as long as the vehicle has tags on it, it needs to have minimal insurance. Insurance companies are usually required to report to the DMV when insurance is cancelled. The DMV would then see that the tags has not been turned in and bam... the OP is in a very nasty situation.[/quote]In most states whether functional or not, whether it has license plates or not - you do not have to insure any vehicle you own if it is not being operated on public highways. Period.[/quote]How many states do you want me to name where this is incorrect? States don't allow this as if the vehicle is not going to be driven, it does not need to be license for use on public roads (active tags). By allowing people to keep active tags with no insurance it just leads to more people driving they vehicle "that one time" on public roads with no insurance. | Quote: | Also, many if not all states require the insurer to pay all sales tax, title and license transfer fees.
Bet you'd never hear any of that from an insurer's employee. LOL. |
I've been working as an adjuster for about 17 years now. Never heard of an adjuster not adding in those amounts.
| Quote: | | My ability to post under the name I previously used "Wade Ebert / Shop Owner" has apparently been blocked by the moderator - real nice. |
The system may not have seen you as logged in so it won't let you duplicate your username. If it states you are logged in, click on your mailbox link and it will probably then ask you to log in. Doing so at this point corrects the problem. |
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tcope
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| Posted: Fri Apr 24, 2009 2:03 am Post subject: |
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| Quote: | | Quote: |
Also, many if not all states require the insurer to pay all sales tax, title and license transfer fees.
Bet you'd never hear any of that from an insurer's employee. LOL.
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I've been working as an adjuster for about 17 years now. Never heard of an adjuster not adding in those amounts. |
I read that in many online articles.
My insurer only added the sale tax, but not the title and license transfer fees etc.. They said they are not required by Virginia. Is it so? |
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sillyana703
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| Posted: Fri Apr 24, 2009 3:22 am Post subject: |
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| In some states that is correct. I'm pretty sure GA (I think tags are excluded at least) is like that. I'm not sure about VA. |
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tcope
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| Posted: Fri Apr 24, 2009 10:15 am Post subject: |
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| Quote: | | My ability to post under the name I previously used "Wade Ebert / Shop Owner" has apparently been blocked by the moderator - real nice. |
Hi Wade, you are not banned from this site. I think its some technical problem. I think you never have registered with the site, but posted as guest.
| Quote: | | But again - no surprise. |
This community has never blocked anyone for posting valuable comments. You are free to offer your point of view as long as its satisfying the TOS set by the admin.
I'd request you to try posting again using your previous username. For any problem you can reach out to me. I'd be glad to help you out.
Thanks,
Evan |
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evan
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| Posted: Fri Apr 24, 2009 3:54 pm Post subject: |
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Wade Ebert has asked that I copy and post his response since he is still having difficulties getting on to the site.
Thanks Evan but it still doesn't work.
tcope - So, pull the tags. Big deal. Can you tell me why the VO should keep plates, current registration and insurance on a vehicle that will never see the road again? Use your head son.
The simple reply to the state stormtroopers banging on this person's door in the middle of the night to reclaim the tags besides "here ya go." is - "it's totaled, I don't even have the car anymore."
I suppose it would be fun for the VO to make the insurer or storage place pull the plates and mail them in. Why wouldn't this happen when the insurer takes possession? If not... Why not? If not, what are insurers doing with all of those potentially illegal plates?!!!
Why isn't VO advised to collect their plates before their car is hustled to some Copart lot where it sits - awaiting processing?
I stand by my statement:
In most states whether functional or not, whether it has license plates or not - you do not have to insure any vehicle you own if it is not being operated on public highways. Period.
Though I suppose if there is some freaky insurance-funded shadow-government state agency wherever you are, that creeps around under cover of darkness like G. Gordon Liddy - enforcing at gunpoint, the removal of plates from uninsured, undriven, stored vehicles - you may want to abate that issue and just hand the tags for your entire laid up collection of mid-seventies mopeds to the next cop you see in traffic.
Seriously? tcope - Do you think anyone buys that shinola? I mean don't get me wrong - I'm a rules guy. Heck I've written and lobbied for language that became law in my state. Love it. But let's be real and leave those weak arguments at home shall we?
The "financial services industry" (those are your bosses) has finally been drug out on the carpet and exposed for what they are. Did you miss it? Do you think they are above lying to their employees or instituting unfair practices which compromise the public's economic and corporal well being?
Look - I understand where you folks are coming from. You need a paycheck. So off you go to training (re-education camp) and the rationale for the actions which would otherwise have raised an eyebrow are drummed in until - to you - they make complete sense. Same deal at Merrill Lynch/Lehman Brothers/AIG and the like.
Many people who do what I do, have seen all too many times - things done "to" the consumer by "innocent" insurance folks that were just "doing their job". After awhile you see the culture is seems the whole world is in a trance and just can't see the reality that the light at the end of the tunnel is an approaching train. CCC vehicle valuations, Diminished value issues, Manipulations of the estimating databases, DRP contracts, Agreed figures, Aftermarket parts fiasco, Contingent commissions, The Reinsurance debacle, Policy churning, Skewed reports from bought and paid for engineering firms, Same deal from "Independent" Medical Examiners, AIG changing its name to 21st Century... The culture of deception is pervasive and ubiquitous.
Somehow we ALL have to get back to telling the truth - don't we?
But I digress - apologies for the rant.
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MikeoftheOzarks
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| Posted: Fri Apr 24, 2009 4:50 pm Post subject: |
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I think Wade Ebert does posted a interesting point as I see here:
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I suppose it would be fun for the VO to make the insurer or storage place pull the plates and mail them in. Why wouldn't this happen when the insurer takes possession? If not... Why not? If not, what are insurers doing with all of those potentially illegal plates?!!!
Why isn't VO advised to collect their plates before their car is hustled to some Copart lot where it sits - awaiting processing?
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My insurer Never in anywhere advised me that I need to collect my plate. But I DO plan to ask them to send me back my plate once we settle the case.
Maybe I am just one of the few who would remember to collect it back. Because my plate has my name on it, and I don't want to to go anywhere else but me. LOL |
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sillyana703
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