by Guest » Thu Nov 28, 2013 06:57 am
My agent had told me that if my motorcycle gets stolen, the insurance would pay off the entire loan and replace the bike (as per current market value). When the bike was stolen I called him and he said me the same thing. But when I called State Farm, they told me that they’d only pay fair market value of the bike and wouldn’t pay off the loan. So here I believe I can sue my insurance agent for providing me with false information at the time of purchasing the policy. I was misled and State Farm just paid me for the bike..the fair market value...I still owe $2500.
I’ve nothing to do with State Farm here ... just with my agent who trapped me with his words. But even if I sue him, how would I prove it?
I’ve nothing to do with State Farm here ... just with my agent who trapped me with his words. But even if I sue him, how would I prove it?
Posted: Thu Nov 28, 2013 03:14 pm Post Subject:
My agent had told me that if my motorcycle gets stolen, the insurance would pay off the entire loan and replace the bike
So what your agent told told you is that your carrier would pay an unknown amount of the loan (could be a million dollars) and then pay again for the value of the motorcycle. Okay.So here I believe I can sue my insurance agent for providing me with false information at the time of purchasing the policy.
Sure you can sue... I could sue your agent as well. He will state he never told you that... you will state that he did. That is not proof of your case. His attorney will also point out that you were given a copy of the policy which states exactly what would be paid.The first part of the issue is that, for some reason, you paid at least $2500 too much for the motorcycle. There is no reason you should have paid more then market value. If you then paid any part of the principle on the loan this would mean you paid even more then $2500 over the value.
Posted: Fri Nov 29, 2013 12:51 pm Post Subject:
This kind of dispute often surfaces when a client is not actually aware of what his/her insurance policy actually covers. In the US, anyone can sue anybody for anything but this doesn’t mean that everyone is winning. In your case, the claims agent will simply take refuge behind the policy and argue that had you read the policy better, you’d know exactly what the policy covered. Your agent may have misled you or misspoken or even sold you the wrong policy. But it will be very difficult to prove in the court. Consult a lawyer before you file the petition.
Posted: Mon Dec 02, 2013 10:12 pm Post Subject:
But even if I sue him, how would I prove it?
Get your agent to write a statement that says he told you the insurance company will pay off your loan. Or record him telling you the same thing. Then you might have the evidence you need.Posted: Tue Apr 23, 2019 03:18 am Post Subject: latamdate review
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