Other Insurer Upping Value for Under Insured Claim?

[Guest]

State Farm finally came in w/ their value for the car.... Amazing! Its $24k and some change, just like I said it would be! The insurance co.s and the games never end. We are not accepting it and at least holding out for the original $26k offered from Farmers. The back and forth and time wasting is just ridiculous.

and next year, YOU will be one of the people bitching that your rates went up up much.

Also, where did YOU get the value of the car from?

 

[djs]

So, they are offering what you thought the car was worth and you are turning it down? For what reason?

Do you have comps that show the offer is incorrect? I fso, then I'm sure State Farm will work with you. If not, you'll need to come up with them to support your claim. The good news is, it doesn't sound like you are that far apart between the 2 valuations, so likely they will settle somewhere in the middle, just curious what you are basing your claim on.

Dan

 

[bmw tuning]

Im basing upon Farmers valuing it at $26,100, which was magically just a little to much for us to keep our claim to them only, so we had to go thru ours. Who think its worth $2k less. just shows the BS insurance co's pull. Its all a big game to wear people down so they will just settle to get on w/ life. Everything every where suggests the car was worth $24 something max but Farmers magically comes up w/ an adnormally high value that just so happens to be a lil to much so they can't pay the claim w/o us going thru our co. A system obviously set up so more claims our made and time wasted so the companies can hold on to their $ for longer periods of time. Take the average pay out $20k and times that by a couple thousand people and look how much money they get to hold on to while we cut thru the BS you tell me how much interest that money collects thousands of times over a year? Otherwise explain why Farmers came up w/ a value higher than any blue book or comparable in the us, just enough to not be able to pay the claim. Then SF magically has the same car, same market at $2k less?
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and next year, YOU will be one of the people bitching that your rates went up up much.

Also, where did YOU get the value of the car from?

Did you read any of the thread or just make a comment, its what we were offered from the at fault parties co. Why would I suddenly want less, especially know that we've had to claim against or co.? And Ive been assured our rates wont be raised at all since my mother was found at no fault, by police and several witness'. Im pointing out that exactly what I said was gonna happen, happened... It doesn't take a genius to see whats going on here. Im not new to insurance I own a car dealership and have friends in the industry. Ive seen and heard as many unethical situations go down as you on the inside have. Don't act like they don't get bonuses for under paying claims and getting away w/ as little as possible.

 

[Guest]

Most of seem to say that you are getting a fair deal. YOU sir, seem to be clueless how things work.

You just sound like an angry dude. period

 

[FullAuto]

And Ive been assured our rates wont be raised at all since my mother was found at no fault, by police and several witness'. Don't act like they don't get bonuses for under paying claims and getting away w/ as little as possible.

State Farm will give you an accident free discount after 3 years without a collision claim on a policy. It will grow every year until it maxes out at 10 years. If you have this discount, making the collision claim will cause you to lose it. State Farm will still subrogate Farmer's and get their money back. You won't receive a surcharge like you would if you were at fault. Your rates won't increase, but you premium will because you've now lost a discount. If you didn't have it because you had filed a collision claim on that policy within the past 3 years, then the time you had building up to receive it will simply reset and you'll see no change in premium. Of course, since this is a per policy issue and not attached to a driver or household, there are games that can be played here.

And your second sentence it totally stupid. We'll get fired, demoted or no/small raise much faster for underpaying a claim than overpaying a claim. If we overpay, it's simply a training issue. If we underpay, it's a possible bad faith lawsuit. No one receives a bonus for keeping claims cost anywhere. It's someone else's job to adjust rates based off claims. We could care less what it costs.