Claim Own Insurance when Other is at Fault

[Milkman1265]

for bop policies, when other party is not co-operating and the insurance is stalling, will claiming your own insurance raise your rates?

or youre only subject to the deductible and then they will subrogate.

 

[Herkster]

for bop policies, when other party is not co-operating and the insurance is stalling, will claiming your own insurance raise your rates?

or youre only subject to the deductible and then they will subrogate.

Should only be subject to the deductible and if your company agrees on that you are not at fault, they will subrogate the other insurance company.

 

[Milkman1265]

pretty much neighbor had a water back up, but he doesnt want to help pay for the damage to repair my insured side, and their insurance pretty much has been pending for a long time.

 

[Herkster]

pretty much neighbor had a water back up, but he doesnt want to help pay for the damage to repair my insured side, and their insurance pretty much has been pending for a long time.

Neighbors water backed up and damaged your insured side? Is this a duplex?
I'd still file a claim with your carrier, let them know what happened, inform them of the other carrier and their lack of response, and go from there.

 

[kristophmarsh]

Common problem: a third party is at fault and rather than put in a claim against your insurance, you decide to file a claim with theirs. Great idea, until you realise that it could take forever.

If you're happy with having them take their time and being messed around that's fine. What I usually suggest is that if you need the work done, get it completed in a prudent manner. Get a couple of quotes and get it fixed.

If it's going to be expensive, go down the route of informing your insurer and following their claims process. You'll need to pay your deductible, but there's a chance you might get it back when they subrogate. If they can't recover, your claims ratio could be affected and rates might go up.

Alternatively, if you are able to absorb the costs of repair in the short-term, get the work done and inform the third party insurer of the costs they owe you. In my experience, it's best to control the repair and recover the costs afterwards, rather than have the third party insurer mess you around throughout.

 

[bps]

Not sure you'll see the neighbor's company pay. Your company insures your property so file a claim with your carrier.

 

[JohnWalker]

Not sure you'll see the neighbor's company pay. Your company insures your property so file a claim with your carrier.

Are you even an insurance agent.... Do you even know that liability is standard coverage in a bop package or homeowners policy?

Your advice lacks an understanding of basic insurance principals.