by larryfulton » Fri May 28, 2010 10:26 pm
In 2007 my car was totaled. Other driver at fault and cited. His insurance carrier, Victoria Insurance, accepted full fault. Just last week we agreed to accept the settlement for a little over 12K - we had asked for 15K which we believe to be the policy limit.
At the time of the accident we had to rent a car until we could find a used one to purchase. Rental period was for 3 weeks at a total cost (taxes, etc.) of $795. Rental reimbursement is handled by a different person and today he said, "Based on the industry standard for a total loss I will be able to issue payment for 13 of the 18 days of rental. My offer is for 13 days $574.40"
We spent 3 weeks driving all around Phoenix and the surrounding area trying to locate an affordable vehicle and now I have to eat the cost for a week of the rental needed due to their driver?
After this huge wall of text, my questions are:
1.) Is this standard
2.) Does it seem like a fair and reasonable offer?
At the time of the accident we had to rent a car until we could find a used one to purchase. Rental period was for 3 weeks at a total cost (taxes, etc.) of $795. Rental reimbursement is handled by a different person and today he said, "Based on the industry standard for a total loss I will be able to issue payment for 13 of the 18 days of rental. My offer is for 13 days $574.40"
We spent 3 weeks driving all around Phoenix and the surrounding area trying to locate an affordable vehicle and now I have to eat the cost for a week of the rental needed due to their driver?
After this huge wall of text, my questions are:
1.) Is this standard
2.) Does it seem like a fair and reasonable offer?
Posted: Sat May 29, 2010 02:55 am Post Subject:
Why was the rental not settled 3 years ago??????? It's separate then the injury settlement so I see no reason why it would still have been addressed.
What state did the accident happen in? The Statute of Limitations might be coming up.
How many days was it from the date of the accident until they made you an offer? That is the number of days they owe. Usually carriers will add 3 days or so to this number.
Thee is no "industry standard" for the number of days for the rental. It sounds to me like there was a delay in them accepting liability?
Posted: Sat May 29, 2010 07:28 am Post Subject:
Why was the rental not settled 3 years ago??????? It's separate then the injury settlement so I see no reason why it would still have been addressed.
In a word, life, got in the way. Accident was Nov 5th 2007. I was released from doctors care in about Feb 2008. In between has been wife's cancer, my other medical issues, etc.
What state did the accident happen in? The Statute of Limitations might be coming up.
AZ - SoL will be in Nov of this year.
How many days was it from the date of the accident until they made you an offer? That is the number of days they owe. Usually carriers will add 3 days or so to this number.
I received formal offer to settle the accident/injury portion last week. Received offer for the rental from a different office/adjuster today May 28th, 2010.
Thee is no "industry standard" for the number of days for the rental. It sounds to me like there was a delay in them accepting liability?
Nope, no delay. Their insured admitted full fault...after the cops caught him - hit an run - because someone on the freeway got his plate #. Cops cited him only. He went to trial, the whole ball of wax. When I was negotiating with the adjuster for the accident/injury portion over the past few weeks stated that they did not dispute that their insured was totally at fault.
So, if there's no "industry standard", what step(s) can I take to collect the full $795 that I had to outlay for the rental car?
Posted: Sat May 29, 2010 11:55 am Post Subject:
After this huge wall of text, my questions are:
As T posted, most carriers will pay 3, maybe 4 days AFTER an offer of settlement. Your claim is unusual, due to the length of time it's taken to settle, but doesn't appear the carrier delayed the settling. If you just got an offer of settlement on May 28 (yesterday right?) then I'd most certainly ask the adjuster how on earth you should've returned the rental PRIOR to this offer? If they seem unwilling to budge, I might ask if this five days of rental is REALLY worth a dept of ins complaint to them, because it is to you..Then file the complaint.1.) Is this standard
2.) Does it seem like a fair and reasonable offer
Posted: Sat May 29, 2010 04:44 pm Post Subject:
I received formal offer to settle the accident/injury portion last week. Received offer for the rental from a different office/adjuster today May 28th, 2010.
So for 3 years they never made an offer on your total loss vehicle? I just don't see how that is possible. You keep bringing up the injury and offer on the injury. Is it possible that they made an offer on the vehicle a few weeks after the accident, just made one to settle the injury now and you agreed to accept the injury offer at this time? Otherwise this means you've been 3 years without a vehicle (as you returned the rental about 3 years ago) and never once questioned if, when, and how much they were going to pay on the total loss vehicle. An insurance company would have told you how much they were gong to pay and if that portion of the claim was not settled w/in weeks they would have sent the offer out in writing.Posted: Sat May 29, 2010 05:30 pm Post Subject:
Ok - I am sorry I did put the wrong date, memories not as sharp as it used to be. Accident was in 2008 not 2007.
My insurance company, GEICO, paid for the total loss. I received from them my deductible back on 11/28/08. And sent payment to leinholder on 12/18/08.
The agent for Victoria seemed surprised when I asked him was the rental car portion being paid by him when we started negotiating a few weeks back stating that a different office should have already paid that.
Thanks for the responses!
Posted: Sat May 29, 2010 06:25 pm Post Subject:
If the other carrier did not handle the property damage then they need to determine what a reasonable time frame is that they could have addressed that portion of the loss. I'd have to say that 13 days could be reasonable. I'd also say that it's a really odd number. I'd guess that they track the settlement times of their total losses and 13 days was the average. That is just a guess.
Do I think 13 days is unreasonable? No. Do I think it's on the low end? Yes.
My recommendation is that you press the issue. Explain that you found no delays by your carrier and that you returned the vehicle right when your carrier made the offer (perhaps mention is they offered to extend it a few extra days). As them where they got 13 days. Work with that info. Explain that sometimes it's possible things might move a little slower then the best possible situation. Explain that it's only an extra weekend and 3 days that you are asking they consider. If needed, move up the chain of command. I'd say it's likely that you will find someone who does not want to argue over a few hundred dollars and will pay the extra rental.
Add your comment