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 Posted: Sat Dec 04, 2010 3:32 am Post subject: |
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You should come out with a decent settlement having documented everything as you have.
As far as helping people, sometimes folks think that insurance agents always stick up for the insurance companies. But just because we're in the industry, doesn't necessarily mean we're blindly supportive of them. I, for one, do not want to see any insurance company take advantage of any policyholder or claimant.
It's too easy to intimidate non-insurance persons into believing that they don't have coverage, when in fact they do. And it's often too easy for insurance companies to delay claims payments for no apparent reason other than it might improve the bottom line on a financial report.
Just this week, the five largest HMO providers in California were collectively fined another $5,000,000. This time is was for unnecessarily delaying or shorting the payment of claims to hospitals and doctors. They could have been fined much more. But the fines send the message that they ARE being watched and they will be fined again if they continue to treat people this way.
One other company is still facing a potential $1 BILLION fine for more than 10,000 identified claims handling violations of the CA Insurance Code. The possible fine is $10,000 per violation. And they could also lose their Certificate of Authority to write business in the state.
So whenever I think someone is being "abused" by an insurance company, I'm one of the first ones to encourage them to file a complaint with their state's Dept of Insurance. None of us who pay premiums deserve to be taken advantage of by the companies we pay. I hope I never have any insurance claims -- but I pay my premiums just in case.
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CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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Joined: 29 Nov 2009
Posts: 4612
Location: Pomona CA
208.18 Dollars($)
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| Posted: Wed Mar 09, 2011 11:03 am Post subject: |
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Update for Max, Good news and bad. First the good, I took your advice "asking for their adjuster's full estimated value of the loss now that it has been repaired".. Seeking the remaining RCV of 16,000 now that the work has been completed. I was patient but persistent I never made a threat or mentioned the term bad faith. I just keep answering their ?'s the best I could. It took 17 emails and 2 months. It was after I put the claim in the xactimate estimator (same as was presented to me) and emailed them 20 pictures of the completed work. Then I stated the work has been completed and feel free to send someone out to reinspect as I have absolutely no problem with that. Then they said (basically) sorry but we had to be sure and your check is on the way. Now the bad news. When this happened about 2 years ago, I ask if this was going to raise my rates. No this wasn't your fault it was an "act of God". OK good, well I have been with them for 20 years (home, auto, life) and the cost to originally rebuild house was 140,000, cost me 550 a year, it would go up about 5000 +/- a year to 340,000 last year cost me 1700 a year. Then last year the letter stating "we have incurred higher than normal $ loses in your area. So they raised it 22,000 last year. Well OK they had some loses in my area and said they did it to everyone in my Zip code. OK that's fair. So we are at 362,000 and my cost went up to 2200 a year (wow). Now the kicker, according to them (after they paid my claim and just raised it 500/year). Apparently all of a sudden my house will take 580,000 to rebuild at a cost of 4500 a year. Say what 340,000 at 1700 a year goes to 580,000 and 4500 a year (and yes I noticed those numbers are not proportional) So I guess I can't blame God because they said it wasn't his fault (or did they?) So anyways that is my update. It is hard to stay positioned when you go against the giants. I may have won a battle but fear I have lost the war. I figure (I am guessing) what you might say... It is probably a good time to shop around. You think? I do appreciate all of your advice and help, you were great.
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anonymousqwert
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| Posted: Mon Aug 22, 2011 5:01 pm Post subject: roof repair |
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i live in ohio and have had storm damage to roof and bedroom . can i hire someone other than a contractor to do the work?
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wondering
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| Posted: Sat Aug 27, 2011 12:25 pm Post subject: |
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Hiring anyone other than a roofing professional would not be appropriate.
Firstly, though you might get a cheaper bill, you’ll never be sure whether it’s been properly fixed or not.
If the damages still persist, you’ll need to get it fixed again, thus spending twice the amount.
Secondly, if you do have a home insurance, you may have a problem while making any future claims, for getting the repairs done by an unprofessional.
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Misty Valdez
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| Posted: Sat Aug 27, 2011 8:46 pm Post subject: |
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does insurance company send 1099 to the contractors you had do repairs on your home fr a damage claim settled with you. Like from the info you send them of invoices or receipts when work is complete.????
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anonymous196912
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| Posted: Sun Aug 28, 2011 12:29 pm Post subject: Pharmacy Rocks! I mean it! |
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Really interesting blog, keep up the good work!
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buy flagyl online
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| Posted: Mon Aug 29, 2011 7:24 am Post subject: |
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The company needs to send a 1099 to an independent contractor, who had earned at least $600 by working under that company in a year.
If the contractor was assigned by the insurer to do the work for you, then it should send 1099 to the contractor.
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Misty Valdez
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| Posted: Thu Sep 08, 2011 3:57 am Post subject: INSURANCE CLAIM |
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I SIGHNED A CONTRACT WITH A COMPANY WHICH WAS CHARGING MY INSURANCE COMPANY 16,000 I FOUND IT DONE FOR 6,000 I CALLED MY INSURANCE COMPANY AND THEY SAID THAT THERE PRICE WAS FAIR, I COULDNT BELEIVE IT SO ANYWAYS THE COMPANY THAT SIGHNED WITH I FOUND OUT THE LICENSE WAS EXPIRED. NO MY QUESTION IS CAN I LEGALLY KEEP THE MONEY AFTER I PAY A NEW COMPANY WHATS LEFT. I TRYED TO TELL THE INSURANCE COMPANY.
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JACINTO
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| Posted: Thu Sep 08, 2011 7:20 am Post subject: |
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Your question is not very clear. Have you already got the claims check?
If yes, I thing you may keep the difference. But I was just wondering, if you do sign a contract with a new contractor, won’t your insurer ask for the documents, which will reveal the new charges? Just give proper information and I’m sure some expert will answer it shortly.
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B
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| Posted: Mon Apr 09, 2012 9:40 pm Post subject: Insurnace Help |
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I am a licensed Insurance adjuster and agent in the state of Texas. The way most homeowners claims works is the Insurer will send out an adjuster to estimate the damages. If the insurance company determines that your roof needs to be replaced they will write you an estimate for repairs and write you an ACV check "Actual cash value". They will hold back depreciation which is called your RCB's. " Replacement Cost Benefits". You can use any contractor that you like to make the repairs to your roof. That means that you can complete your roofing repairs yourself. All you have to do to recover your RCB's is to send in your material receipts where the material was purchased, call your adjuster and tell them that you completed the work yourself and he should release the depreciation based on what he estimated the repairs to cost. I wouldn't worry about logging any hours of labor that you spent completing the work because the insurance company is going to pay for the repairs "materials and labor" based on what there estimating software says it should pay. If he doesn't release your RCB's you need a different insurance carrier because I have adjuster for a bunch of them and this is the standard to which the major Insurers go by.
Hope this helps
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Texas Agent
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| Posted: Mon Apr 09, 2012 9:40 pm Post subject: Insurnace Help |
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I am a licensed Insurance adjuster and agent in the state of Texas. The way most homeowners claims works is the Insurer will send out an adjuster to estimate the damages. If the insurance company determines that your roof needs to be replaced they will write you an estimate for repairs and write you an ACV check "Actual cash value". They will hold back depreciation which is called your RCB's. " Replacement Cost Benefits". You can use any contractor that you like to make the repairs to your roof. That means that you can complete your roofing repairs yourself. All you have to do to recover your RCB's is to send in your material receipts where the material was purchased, call your adjuster and tell them that you completed the work yourself and he should release the depreciation based on what he estimated the repairs to cost. I wouldn't worry about logging any hours of labor that you spent completing the work because the insurance company is going to pay for the repairs "materials and labor" based on what there estimating software says it should pay. If he doesn't release your RCB's you need a different insurance carrier because I have adjuster for a bunch of them and this is the standard to which the major Insurers go by.
Hope this helps
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Texas Agent
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| Posted: Sun Apr 29, 2012 8:26 pm Post subject: letting |
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well steven this is there web address address ,check out there great deals ,say mastonies put you on
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michaelmastonie
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| Posted: Sat May 12, 2012 5:27 pm Post subject: letting |
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hello there stevo this is there contact info , they have a deal on at the mo ,say Howard j give you there number
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Howardjenton
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