by Balexander » Thu Mar 24, 2011 04:25 am
We purchased a 2001 Honda Goldwing 1800, fully decked out and subsequently were convinced to also purchase loan insurance. After making payments for a couple of years I became fully disabled according to Wisconsin statutes. The insurance company made intermittent payments however in October the bank repossesed the bike due to lack of consistent payments. In December I received a paper from the insurance company asking the bank to fax them a payment history and for me to let them know we had gotten our bike back. I immediately let them know we certainly had not gotten the bike back. I contacted the insurance company again and was told that I did not have the right kind of disability and since the bike was sold the issue was done. I believe this is a blatant act of bad faith and misrepresentation by Cardiff insurance, and due to the fact that my disability is heart related and this issue has caused me undue amounts of stress and several trips to the hospital, I feel punitive damages also apply. I would sincerely appreciate some positive assistance with this distressing issue as soon as possible. Thank you, Barbara
Posted: Thu Mar 24, 2011 02:11 pm Post Subject:
So...you purchased disability insurance to cover the payment amounts ? Your explanation isn't too clear on some details. Normally, the disability insurance send payments direct to the client/policyholder. Many times the companies are waiting on Dr. reports, etc. that will cause delays in payments. Not enough info. has been presented for any intelligent response. Were the payments sent to you directly? Was the company waiting for more info. when the payments were delayed?
Posted: Thu Mar 24, 2011 03:54 pm Post Subject:
The insurance company sent the payments directly to the bank, and I had sent all the information requested from the insurance company. I had to give them all the Dr info, etc. prior to the start of payments. The payments the insurance company made to the bank were very irregular, when asked why they were not more consistent, there was no responce.
Posted: Thu Mar 24, 2011 06:22 pm Post Subject:
Unfortunately, bad service has become too commonplace among insurers in the past few years. Although I doubt you'd be able to prove "bad faith" I'd be confident that you could get the insurance company to lobby the finance company to recoup the repo'd bike. Biggest obstacle is that retaining an attorney on such a small case would likely cost you a ridiculous portion of the total $$ at risk/loss. My advice would be to place a complaint with the insurance department in the state and they will investigate your claim. This way you can avoid any costly, time consuming litigation.
Posted: Fri Mar 25, 2011 06:55 pm Post Subject:
Thank you for your reply, it made me believe I was on the right track because I just put in a complaint to the state insurance commissioner. Again, thank you so much, any other guidance you can give me will be greatly appreciated.
Posted: Tue Apr 26, 2011 07:33 pm Post Subject:
Hope you settle these things with your insurance company. Try to talk to them again but if they agree with your suggestions, find a complaint.
Add your comment