Could insured be charged deductible twice on an extended los

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PostPosted: Sat Nov 28, 2015 7:52 pm   Post subject: Could insured be charged deductible twice on an extended los  

Initially, insurance paid X amount to repair coverable loss plus X amount for deductible, but not enough to cover for damages.

Insured submitted own bid to try to get more money; they decided to give insured another amount for same loss; but they took out another X amounf for deductible from inured's bid amount. Lets say, insured submitted a bid of 3K, the isnurance company gave insured another 2K plus 1K deductible; so insured gets 2K instead of 3K; BUT BECAUSE EXTENDED PAYMENTMENT COMES FROM AN ALREADY DEDUCTED DEDUCTBLE, WHY SHOULD THE INSURER DEDUCT IT AGAIN. Is this action by insurance correct?

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PostPosted: Sun Nov 29, 2015 7:40 pm   Post subject:   

Most likely only one deductible applies. Its certainly possible that they took it out twice. A quick call should solve any issues.



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PostPosted: Wed Sep 07, 2016 2:11 pm   Post subject:   

Chances are that what you are seeing is totals for the claim. The first estimate you are looking at will show the deductible and then the insurance company issues a supplement but instead of only showing the new money to be paid, they often will rewrite the entire estimate and therefore still show the deductible being applied. They don't actually take it out twice but it is simply being shown in both estimates. Of course this is only a guess based on my experience with many of my clients asking the same question.



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