Insurance Claim Run Around?

So about 2 months ago I hit something underwater and did some pretty major damage to the boat. I ended up filing a claim for the repairs. So here is my question...the claim people that I am dealing with won't send me the payment until they get a copy of the final invoice, send me a "statement of loss", I then have to sign and have it notarized and send it back to them. Is this the standard procedure that goes with claims?? I have never had to file a claim before...so I'm clueless.

The dealerships repair guy said he had never heard of it before. So I figured I'd ask you guys what you have experienced.

Hopefully these guys aren't just giving me the run around.

Nope never heard of that B.S.

any other thoughts out there?

Sounds like they're trying to make sure you're not scamming them for cash. What about arranging for the repair people to bill the insurance company directly without you being the middle man? Otherwise, maybe have the repair place provide an estimate to the insurance company but make sure both the estimate and any release you would sign have a provision for additional funds should other, unforeseen problems be found once they start the repairs. If that doesn't work, maybe faxing them a letter (so you have confirmation they received it) with the estimate and stating that you hope your insurance company is not acting in "bad faith" would help. Make it a nice letter though - nobody reacts well to being threatened.

Yeah,

The dealership said that that was how he normally did things. The insurance company however wouldn't do it. They said that this is how they do things.

Kevin

Having worked in the insurance industry for 18 years and yes, I am an adjuster that has handled boat claims, I would agree your insurance company's request is not the norm. It may, however, be what THEY require and of course, they control THEIR money so you may have to play by THEIR rules (hey, I am a consumer first, adjuster second so I understand the frustration with rules).

Usually, an insurance company requests a detailed estimate be provided so they can review the repairs are consistent with the damages being claimed (and that the stated cause is consistent with those damages). That is usually enough to be the "Statement of Loss" or the "Proof of Loss".

Once reviewed, an actual cash value payment is made (if items are being replaced, they are paid at a depreciated value until the insurance company receives documentation that the parts were actually replaced, at which time, the insurance company would send a second payment, more-or-less refunding the depreciation).

If you are just getting the work completed straight away, you should be able to submit the bill (assuming the insurance company approves it) and get paid the full amount, minus your deductible. I am a bit surprised at the notarization requirement.

I have had my own boat claim and it was simple: the adjuster met me at where I stored my boat, looked at the damage (bent prop shaft, bent propeller - guess what I did!) and paid me based upon my estimate. Very simple.

One thing though, you really do not want the insurance company to pay your contractor or repair person directly...remember, it is your property, your claim and your benefits and you should maintain an interest and control. Not that a contractor or repair person would do something shifty ; however, if they did embellish or fib, you would ultimately be responsible...keep an eye on your interests.

Also, it is great to save money on insurance; however, look beyond the cheap companies to the ones that do provide adjuster inspections and/or have local or reachable offices. Remember, you do not pay insurance to save money, you pay insurance to receive good benefits and good service when you make that claim.

Good luck

Louise

yea id switch insurance companies first chance you get after all this is taken care of..ive never heard of this and am very interested in the name of the insurance company so i will never sign on with them....

i have always contacted the insurance company and told them i had a claim and fax them the estimate from repair shop..they usually approve it unkess it was a certain amount over the normal prices and they would send an adjuster within the week to look at it and they usually paid immediatly after..


never a hassle after owning boats for eight years and a handful of claims....