If we're going to name names, if Geico would spend more effort at equitably
settling claims instead of big bucks on radio commercials about how fast
their claims are handled, they might be worth the switch. They are fast, but
their adjuster showed up in a suit and tie at my wife's office parking lot
to settle the claim on her 944 hit from behind. No he didn't even look under
it and no he didn't even want to see her estimates from the Porsche dealer
or independent shop and yes his estimate was half of both the others, but
they were ready to settle. I argued with them for almost two years, then
wrote a letter to the Ohio board of insurance. Then they WERE fast. Turned
out both independent estimates were low and there was more hidden damage
underneath but I had the state board on my side. I could care less about
saving that 15% they claim on the radio. Ya get's what ya pays fer!
Roger
>From: Alfred <alfred@ajkco.com>
>Reply-To: Alfred <alfred@ajkco.com>
>To: vintage-race@autox.team.net
>Subject: Re: Fwd: Re: Liability
>Date: Fri, 26 May 2000 21:10:40 -0400
>
>Man, I know this is way off topic for a vintage list, but I've gotta say
>that my insurance company, Chubb, has never argued a claim. I haven't had
>many, but they've always been paid very quickly without question or demands
>with respect to providers of estimates or service. In fact, I'd say
>they're actually a pleasure to work with, especially considering the
>context in which one must do so.
>
>-A
>
> >Date: Fri, 26 May 2000 17:44:49 -0700
> >From: Tom M <tmatycho@ix.netcom.com>
> >X-Accept-Language: en
> >To: vintage-race@autox.team.net
> >Subject: Re: Fwd: Re: Liability
> >References: <20000524161531.63180.qmail@hotmail.com>
><392C9086.FD3E67EF@ix.netcom.com>
><392D8843.734CFEA1@productdesigngroup.com>
> >Sender: owner-vintage-race@autox.team.net
> >Reply-To: Tom M <tmatycho@ix.netcom.com>
> >X-RCPT-TO: <alfred@ajkco.com>
> >
> >
> >
> >Craig Wright wrote:
> >>
> >> Tom,
> >>
> >> Could you give us any hints as to the companies that behave the way you
>have
> >> indicated. Through experience, I've come to the conclusion that the
>first
> >> response to any claim is refusal. My last three claims required legal
> >> encouragement from my end.
> >
> >Actually, my impression is that most of the major companies do try to
> >protect the interests of their insureds. I have seen more instances of
> >carriers defending and settling claims that involve a question of
> >whether the loss is covered than I have of carriers denying a righteous
> >claim. With one exception, which will remain nameless, I think
> >erroneous denials of coverage are not the result of company policy, but
> >the result to some human error early on in the claims department. Then
> >there are some smaller insurers that are undercapitalized that enter
> >markets and gain income from low premiums. Things go fine until the
> >claims start coming in, and then the company may engage in what's
> >referred to as "post-loss underwriting."
> >
> >I think a mistake many people make is that they shop for the lowest
> >premium and nothing else. I've been with an independent broker for
> >fifteen years. The reason I went with this agency was they were a minor
> >defendant in a major case brought primarily against an insurance company
> >and I was defending them because it was alleged they had failed to
> >obtain the proper coverage. It was abundantly clear to me that this
> >brokerage was very knowledgeable about insurance matters generally, but
> >also very committed to going to bat for their clients with the
> >carriers. I pay a little more in premium, but it's well worth it.
> >
> >As far as companies and their handling of claims, doesn't Consumer
> >Reports publish info on this?
> >
> >--
> >Tom M.
> >
> >
>
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