Well in about 45 minutes it will be my Birthday and my insurancce has finally settled. I got the call yesterday that I would have a check this week.
I want to say thanks to all those who kept their eyes open and sent pm's and called. It has been greatly appreciated and I hope to meet those of you that I haven't yet.
So to sum this whole thing up; the car was stolen in Sept and it's almost 6 months later now and it has never been recovered.
The insurance wanted to offer $2k first.
I found out that in CA the insured has the right to have their own appraisal done, even after the fact. So I did. In retro I should have had one done before.
The insurance co. had their own apprsl done and made an offer for $12k. This took about 2 1/2 months to get to this point.
I disagree as I had a larger apprsl so we enter into arbitration. Both appraisers have to submit their reports to a third appraiser who then submits his report to the others. He only needs a signature from one other appraiser and then forwards it to the insurance adjuster. They call this an award letter. His finding is pretty much binding when you enter into the arbitration process.
This last part took forever as the insurance company want's you to get tired of waiting and take the first offer. Between the insurance co. and their appraiser (bunch of thieving liars!) they added months onto this whole process.
Another important point;
If you feel you are being screwed around by your Insurance co call your state Insurance Commissioner!
I did and I think it may have helped speed this up, I know it got their attention as the Insurance Commissioner is responsible for licensing and follow up on legal process.
Final value; $18k Appraiser costs $700.
Lessons learned;
Have an appraisal done when you get your car insured.
Have your special car insured with one of the collector car insurance and get Agreed Value!
Insurance company's have a nice customer service face but a real nasty mean side when it comes to claims.
I want to say thanks to all those who kept their eyes open and sent pm's and called. It has been greatly appreciated and I hope to meet those of you that I haven't yet.
So to sum this whole thing up; the car was stolen in Sept and it's almost 6 months later now and it has never been recovered.
The insurance wanted to offer $2k first.
I found out that in CA the insured has the right to have their own appraisal done, even after the fact. So I did. In retro I should have had one done before.
The insurance co. had their own apprsl done and made an offer for $12k. This took about 2 1/2 months to get to this point.
I disagree as I had a larger apprsl so we enter into arbitration. Both appraisers have to submit their reports to a third appraiser who then submits his report to the others. He only needs a signature from one other appraiser and then forwards it to the insurance adjuster. They call this an award letter. His finding is pretty much binding when you enter into the arbitration process.
This last part took forever as the insurance company want's you to get tired of waiting and take the first offer. Between the insurance co. and their appraiser (bunch of thieving liars!) they added months onto this whole process.
Another important point;
If you feel you are being screwed around by your Insurance co call your state Insurance Commissioner!
I did and I think it may have helped speed this up, I know it got their attention as the Insurance Commissioner is responsible for licensing and follow up on legal process.
Final value; $18k Appraiser costs $700.
Lessons learned;
Have an appraisal done when you get your car insured.
Have your special car insured with one of the collector car insurance and get Agreed Value!
Insurance company's have a nice customer service face but a real nasty mean side when it comes to claims.
