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Insurance companies suck

post #1 of 23
Thread Starter 
I’m so incredibly furious with my insurance company right now.

I was involved in an accident and my vehicle is non-repairable. After waiting 2 months to find out that the company will pay out my claim, this morning I received a call from an adjustor telling me that my cheque is ready. I was shocked because the prior day I was told that someone would be calling me to discuss and determine a pay-out amount. So, when this guy told me “this is the amount we agreed upon when we spoke,†I politely corrected him and informed him this was the first I was hearing of this. It went downhill from there and so did my polite disposition. I laughed when he quoted the stingy amount of the cheque (not even enough to cover the cost of the engine work I had done) and told him I was insulted. He then went on to laugh at me (yes, laugh at me) and told me that’s all he’s willing to give me, and if I don’t like it, tough for me and that I have 1 year to fight with him about this. I am furious, to say the least. I’ve been with this well-known company for almost 20 years and this is my first non-repairable claim. So, I decided to do a little research. Funny, within 10 minutes of surfing the internet, I found 4 vehicles of the same year, make, model, shape and mileage that are all being sold for 3 times the amount this jerk quoted me as my pay-out amount. Looks like I’m heading into battle with the insurance company…..
post #2 of 23
Quote:
Originally Posted by Sadie's Mom View Post
I’m so incredibly furious with my insurance company right now.

I was involved in an accident and my vehicle is non-repairable. After waiting 2 months to find out that the company will pay out my claim, this morning I received a call from an adjustor telling me that my cheque is ready. I was shocked because the prior day I was told that someone would be calling me to discuss and determine a pay-out amount. So, when this guy told me “this is the amount we agreed upon when we spoke,†I politely corrected him and informed him this was the first I was hearing of this. It went downhill from there and so did my polite disposition. I laughed when he quoted the stingy amount of the cheque (not even enough to cover the cost of the engine work I had done) and told him I was insulted. He then went on to laugh at me (yes, laugh at me) and told me that’s all he’s willing to give me, and if I don’t like it, tough for me and that I have 1 year to fight with him about this. I am furious, to say the least. I’ve been with this well-known company for almost 20 years and this is my first non-repairable claim. So, I decided to do a little research. Funny, within 10 minutes of surfing the internet, I found 4 vehicles of the same year, make, model, shape and mileage that are all being sold for 3 times the amount this jerk quoted me as my pay-out amount. Looks like I’m heading into battle with the insurance company…..
I am so sorry to hear this! I bet right now you are looking like the cat in your siggy! I take it from your spelling of cheque you do not live in the U.S., but here we are saturated day and night with an insurance company that has a talking gecko. TV is flooded with this day and night. Every time I see it I wonder how the heck they could ever pay anybody anything that had a claim. If there is any way you can do battle over this, by all means do it!
post #3 of 23
Excuse me, not sure where you live, but in the US I thought it was customary to go by blue book value when a vehicle is "totalled". Not what you could sell it for in good condition, but the bare bones kelly blue book, which is quite stingy when it comes to needing a replacement.
post #4 of 23
Insurance companies in the US have their own individualized systems of determining vehicle value, not using blue book. There was a good article on MSN the other day about settling claims and what to ask, etc. I do know that at least in the US, anything is negotiable if you say the right thing..

I think this is why it's SO important to choose an insurance company that has a good claims reputation. JD power & associates do consumer satisfication research and are a good source for info when choosing an insurance company. It's not always so easy as what is cheapest. A lot of other things need to be considered too.
post #5 of 23
They're trying to scare you into settling for less than you're due. Don't let them intimidate you! Record all phone conversations with them from now on (might not be admissible in court, but it's nice to have), document everything that happens, and stand tall!

And boy, would I like a hint as to who it is...
post #6 of 23
The whole point of insurance is to indemnify. You pay your premiums to ensure that if ever there is a total loss, you will get enough money to buy the exact same vehicle.

Alot of people complain because they have rapidly depreciating cars, and they aren't worth very much at the time of the loss. Unfortunately, it is not the Insurance Companies responsibility to give an insured more than the car is worth...That would cause everyones rates to increase.

If my insured's have a problem with the payout amount, the adjustor WILL consider personal research that the insured has done..such as auto trader ads, classifieds..etc..The vehicles compared would have to be the exact make and model with the same features and very close miles.

I know how annoying it can be because I deal with it every day. People sometimes do get total loss checks that won't even pay off their loan on the vehicle..But for certain cars, the reality is that they depreciate too much.

On a side note, this is why I will only buy a Honda..I have seen many a Sunfire owner get LESS than they owe on the car in a total loss situation..the cars just aren't worth anything.

Anyway, good luck, and let me know if you have any questions. Please keep in mind, Insurance Companies really aren't in the business of "screwing people". We make a promise, and we keep it. There is a very systematic way they come up with total loss settlements. Its not just some dude that thinks up a number out of nowhere..There are estimatics people that thats ALL they do is figure out the real value of a car. I promise you won't be "had".
post #7 of 23
Quote:
Originally Posted by Trouts mom View Post
The whole point of insurance is to indemnify. You pay your premiums to ensure that if ever there is a total loss, you will get enough money to buy the exact same vehicle.

Alot of people complain because they have rapidly depreciating cars, and they aren't worth very much at the time of the loss. Unfortunately, it is not the Insurance Companies responsibility to give an insured more than the car is worth...That would cause everyones rates to increase.

If my insured's have a problem with the payout amount, the adjustor WILL consider personal research that the insured has done..such as auto trader ads, classifieds..etc..The vehicles compared would have to be the exact make and model with the same features and very close miles.

I know how annoying it can be because I deal with it every day. People sometimes do get total loss checks that won't even pay off their loan on the vehicle..But for certain cars, the reality is that they depreciate too much.

On a side note, this is why I will only buy a Honda..I have seen many a Sunfire owner get LESS than they owe on the car in a total loss situation..the cars just aren't worth anything.

Anyway, good luck, and let me know if you have any questions. Please keep in mind, Insurance Companies really aren't in the business of "screwing people". We make a promise, and we keep it. There is a very systematic way they come up with total loss settlements. Its not just some dude that thinks up a number out of nowhere..There are estimatics people that thats ALL they do is figure out the real value of a car. I promise you won't be "had".

Very well put, Natalie!

I used to work in a Body Shop- so I know how much people dislike insurance companines- but in the long run, they really aren't there to hurt anyone- they are there to help you!

Cars depreciate so quickly- AND, if your online looking at how much your car is worth @ a dealership- thats not how much your car is worth- when I traded in my 2004 Impala last year- I got $10,000 for it- then they put it back on the lot for about $13,000. They mark them up, so what your seeing really isn't what you'd get for yours.
Kelly Bluebook is what they usually go by- those are the prices on what your car is worth- not a dearlerships price.
post #8 of 23
Quote:
Originally Posted by babyharley View Post
Very well put, Natalie!

I used to work in a Body Shop- so I know how much people dislike insurance companines- but in the long run, they really aren't there to hurt anyone- they are there to help you!

Cars depreciate so quickly- AND, if your online looking at how much your car is worth @ a dealership- thats not how much your car is worth- when I traded in my 2004 Impala last year- I got $10,000 for it- then they put it back on the lot for about $13,000. They mark them up, so what your seeing really isn't what you'd get for yours.
Kelly Bluebook is what they usually go by- those are the prices on what your car is worth- not a dearlerships price.
In addition to that too, if you have a vehicle that is 6+ years old, often car dealers will not give you blue book price, they give you what the car usually sells for at auction. So dealer price and blue book price have no claims for the older vehicles.

It does suck...but better than not getting ANY money at all.

Check your premium statement too...often times they will tell you how the insured amount is determined for your policy.
post #9 of 23
After an accident the last thing you want to worry about is fighting the insurance company. Good luck.
post #10 of 23
Above and beyond being jerked around by the company, though, is the fact that the rep laughed at you and treated you poorly. If I were you, I'd contact his supervisor (or some other higher-up) and report that behaviour. An accident is traumatic enough without having your insurance company belittle you!

What the hell is wrong with customer service these days? I've been in customer service for more than a decade, and I can't imagine treating my customers the way you're being treated ... I'd have lost my job a hundred times over!
post #11 of 23
[quote=Trouts mom;1741979]
On a side note, this is why I will only buy a Honda..I have seen many a Sunfire owner get LESS than they owe on the car in a total loss situation..the cars just aren't worth anything.

QUOTE]

Ugh! I used to have a sunfire! They are not good cars and I know why they lose their patooties on them! Mine was in 4 yep 4 accidents. The worst one was a truck rolled back into me (sitting still) and cause almost 3000 worth of damage. Yuck!


Sorry you have to deal with this. Hapefully you get a car of comparable value and that jerk gets in trouble for laughing at you.
post #12 of 23
Quote:
Originally Posted by Mirinae View Post
Above and beyond being jerked around by the company, though, is the fact that the rep laughed at you and treated you poorly. If I were you, I'd contact his supervisor (or some other higher-up) and report that behaviour. An accident is traumatic enough without having your insurance company belittle you!

What the hell is wrong with customer service these days? I've been in customer service for more than a decade, and I can't imagine treating my customers the way you're being treated ... I'd have lost my job a hundred times over!
I agree with you there..Of course he shouldn't have laughed at you. The nerve of some people. Unfortunately in every industry, there are dumbasses that will give awful customer service. People in insurance should be very empathetic and understanding.
post #13 of 23
Thread Starter 
Quote:
Originally Posted by CDubbie View Post
Excuse me, not sure where you live, but in the US I thought it was customary to go by blue book value when a vehicle is "totalled". Not what you could sell it for in good condition, but the bare bones kelly blue book, which is quite stingy when it comes to needing a replacement.
It's the same way in Ontario Canada - or, at least it's suppose to be. Now you understand why I'm so pissed!
post #14 of 23
Thread Starter 
Here's an update - I was so pissed with the total beligerance of the guy (aka jerk) I had to deal with that I called my agent at home. I explained the situation and told him that if that's the way a client of 22 years is treated, I can no longer be a client. I also told him I want to meet with the jerk's direct supervisor as they need to know how I was treated. In fact, I told my agent that if this jerk isn't fired or removed from this post, I will report the harrassment to the insurance boards of ontario and canada, and then I will ensure he is terminated.

Funny, when I told my agent the amount I was offered, even he was shocked and disgusted. FYI, it's a vehicle that holds its value quite well.

Since this morning, there has been a meeting set up with the jerk, his supervisor, my agent and myself for tomorrow. Should be interesting....
post #15 of 23
Quote:
Originally Posted by Sadie's Mom View Post
Here's an update - I was so pissed with the total beligerance of the guy (aka jerk) I had to deal with that I called my agent at home. I explained the situation and told him that if that's the way a client of 22 years is treated, I can no longer be a client. I also told him I want to meet with the jerk's direct supervisor as they need to know how I was treated. In fact, I told my agent that if this jerk isn't fired or removed from this post, I will report the harrassment to the insurance boards of ontario and canada, and then I will ensure he is terminated.

Funny, when I told my agent the amount I was offered, even he was shocked and disgusted. FYI, it's a vehicle that holds its value quite well.

Since this morning, there has been a meeting set up with the jerk, his supervisor, my agent and myself for tomorrow. Should be interesting....
Fun, fun fun, can I come and be a fly on the wall? That guy is going to be reduced to less then a bug on the floor (hopefully). You go get him!
post #16 of 23
Good for you! As much as I hate to wish ill on anybody, that man clearly shouldn't be doing the job he's doing, if that's the way he treats his customers. Good luck with that meeting.
post #17 of 23
Thread Starter 
I'm not usually this aggressive, but this time I have no choice. When someone is wrong, they are wrong. But, I do feel a little sorry for him - I'm suffering from terrible PMS
post #18 of 23
Quote:
Originally Posted by Sadie's Mom View Post
It's the same way in Ontario Canada - or, at least it's suppose to be. Now you understand why I'm so pissed!
Its not the same in Ontario at all. It has nothing to do with the blue book value. Every single vehicle has a different value based on age, condition, kilometers, make, model..etc..There is about a hundred page report that goes into determining the value of a total loss vehicle.

People are mistaken, there is no reference to the blue book when determining value. (In Ontario, I know this for a fact. The US could be completely different.)
post #19 of 23
Thread Starter 
Well, that just goes to show you want an idiot this jerk is - he told me that he took Kelley and Edmunds values into consideration when determining my pay-out amount. Now, I'm really pissed!!!!! And, when I asked him to provide me with the supporting documentation and calculations as to how he arrived at the dollar value, he basically told me to go and "%#&%" myself.
post #20 of 23
Thread Starter 
Update - I settled with the insurance company today. It was less than I was trying to get, but I got so darned tired of getting insulted and "beat-up" by the insurance company (which I know is merely a stall tactic on their part) that I took a reasonable offer.

But, boy did this experience ever show me a different side to insurance companies. They are so charming and agreeable when they are taking your money, but as soon as you take their money, the tune changes.

Now I understand what my father meant years ago when he described insurance companies as "necessary evils" in our lives.

And, all this experience has shown me is that insurance companies suck!
post #21 of 23
Quote:
Originally Posted by Sadie's Mom View Post
Update - I settled with the insurance company today. It was less than I was trying to get, but I got so darned tired of getting insulted and "beat-up" by the insurance company (which I know is merely a stall tactic on their part) that I took a reasonable offer.

But, boy did this experience ever show me a different side to insurance companies. They are so charming and agreeable when they are taking your money, but as soon as you take their money, the tune changes.

Now I understand what my father meant years ago when he described insurance companies as "necessary evils" in our lives.

And, all this experience has shown me is that insurance companies suck!
Sorry you couldn't get what you want. I hate insurance companies - hubby had an accident (he was hit from behind) and the lady who hit him sued him 1 day before the statuate of limitations was up, so we could not sue back. The whole thing dragged on for years (we won), but the insurance company wasn't a big help and made us hire own own lawyer (our coverage was only for a millin - we were being sued for 1.5 mill so had to get a lawyer to fight about the .5 mill)
post #22 of 23
I'm sorry you didn't get the payout you were hoping for..and also that you were treated poorly.

I guess this thread goes to show those that just look at price when purchasing insurance. The really important thing that your insurance company needs to be good at is dealing with claims. Its situations like this that make people second guess "only looking for the cheapest rate" and actually valuing service as well.

I know that paying insurance sucks...but I also know that if I had a $200,000 house and it burned down, I would be very very grateful for insurance companies
post #23 of 23
Thread Starter 
What's most infuriating is the fact that I've been a 22 year client. But, rest assured that the next 22 years will be with another company.
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