HELP. My insurance company are thieves.

[Grahameeboy]

The girl was with the same insurance company as mine, and was fully insured.

I have 30 years claims experience so if you would like me to help, draft a letter etc pm me...

Face to face...difficult one because they may turn things around and get you to agree to sonmething that is not right...do research first...claim loss of use which is a valid claim but Insurer's say it is not.

[discotex]

It is not often the Insurer's fault as they rely on assessor's who are not always right when it comes to bikes.

Yeah I suppose that's a fair point.

[captain_andrey]

I've had nothing but good experience with my insurance co. I wrote off a 2 month old bike and they bought me a brand new one, no questions. Currently in the process of making another claim for a minor accident and everything seems to be going smoothly.

[kave]

This is the letter I am considering sending through to my insurance company.

Philip and Juliet McGarry
*
Panmure
Auckland 1060

Policy: ***
Claim: ***


March 3, 2009


Chief Executive Officer/Managing Director
*
*
*
Manukau 2014


Dear Sir


I am writing to inform you of my dissatisfaction in regards to my dealings with *. I am a customer of yours, and have a motorcycle policy. On Tuesday the twenty-fourth of February a Miss Monique Gray (another of your customers) turned her car in front of my motorcycle, the subsequent crash damaging my motorcycle and her car. The police attended and Mrs Gray was charged with failure to give way. A tow truck was organised to take my motorbike to Red Baron Motorcycles in Auckland for assessment and hopefully repairs. On Saturday I received a letter requesting that I fill out a total loss statement, which I did and faxed back on Monday morning. Up to this point I was relatively happy with *, everything seemed to be moving at a relatively reasonable pace, and correspondence was fast and professional.

On Monday the Second of March I received a call from the * Howick branch informing me that their valuation substantially differed from my expectations. It was suggested that I seek out my own valuation, and that they would also get a secondary valuation done. I was concerned at this point, but I did not hold * responsible as I assume that external assessors are contracted?

The following day I attempted to follow the suggestion made to me by * staff to get a valuation done privately, unfortunately the bike was no longer at Red Baron Motorcycles. It turns out that someone apparently acting on behalf of * had turned up in a truck and taken my bike from where I had left it. As far as I (and the law) am concerned this constitutes theft. Not only has the bike been moved from the mechanics where I had left it, it was done without my permission, and without even informing me. Not only that, even when an * representative suggested that I seek out a private valuation they did not feel it necessary to inform me that my bike had been taken.

This left me unable to get a private valuation done. I sought advertisements of similar bikes from both dealers and private sellers, and all of which were substantially higher than what * had offered me (and far closer to my estimated market value than that provided by *), but I was told that the prices that similar bikes are selling at is irrelevant (which surprises me given that my policy states that the motorcycle is insured for market value).

At the moment I would be willing to either split the difference and accept $5,500 or accept A.M.I sourcing me a replacement motorcycle (a Suzuki GSXR1100 M or N model in a condition that we agree was similar to my bikes condition pre accident). If you find neither of these two options acceptable can you please provide me with a letter of deadlock.


Thanking you in advance,



Philip McGarry

[Max Preload]

I think once you lodge a claim and the decision is made by the insurance company that it is a total loss, the bike become their property and the only issue remaining is one of agreeable settlement. Therefore they were within their rights to remove it without notifying you, but they should have told you out of courtesy when you spoke to them about gettting a private valuation..

[captain_andrey]

I think once you lodge a claim and the decision is made by the insurance company that it is a total loss, the bike become their property and the only issue remaining is one of agreeable settlement. Therefore they were within their rights to remove it without notifying you, but they should have told you out of courtesy when you spoke to them about gettting a private valuation..

Nope, you have to sign a piece of paper releasing the bike to them.

[kave]

I can understand them removing the bike if it had been written off, but it is not written off yet.

[Max Preload]

Today I had a call from my insurance company saying that the bike was being written off...

I can understand them removing the bike if it had been written off, but it is not written off yet.

Make up your mind.

[kave]

Make up your mind.

They called me to say that they wished to write it off. This decision was made because repair costs exceeded the pre-crash valuation. As I am disputing the valuation, the bike will not be written off until we come to an agreement on the valuation. When/if the insurance company and I come to an agreement on the value of my bike, they will then compare that value to the cost for them to repair the bike to its pre-crash condition. If the equation still comes out that it is cheaper for the insurance company to write off the bike then it will be written off. If they decide that given the new valuation, it is now in their interests to repair the bike, then it will not be written off.

[MarkH]

If you are not happy then fight it!

I say: good for you for not bending over and taking it, I would go further and not be willing to 'split the difference' either. You paid good money to insure the bike for market value and since the accident was the fault of the other party you should expect to be paid out enough to buy a similar bike without having to pay any difference.

Stick to your guns and stand up for your rights - if a few hours of work getting your insurance company to play fair results in an extra thou or two then it is a pretty good return on your time.

[Maki]

I actually changed insurers, partly due to this issue. My previous insurer, AMI would only insure the bike for this nebulous "market value". I take good care of my bike and I think I keep in above average condition. I don't think "market value" is likely to be fair so I prefer an agreed amount. I now insure my bike for a fixed agreed amount so everyone knows where they stand if it is totaled. If you take good care of your bike I suggest you do the same.

I never had to file a claim but having to argue about the value of my bike if I do is aggravation I can do without, especially if my beloved bike is broken and bleeding somewhere...

[kave]

The insurance company has just had another valuation done, and the new one is half of their first one, I have also had a valuation done and it is three times their second valuation. I am concerned that because valuers get a lot of business from the insurance companies that they favour the insurance companies by pushing the values down. I don't see how three different valuations can come up with such substantially different results. Fuck.... it's looking like I will have to chase them through the courts, so I will be stuck on public transport for months.

[captain_andrey]

Are you going to name the company now?

[Hailwood]

If you read the proposed letter, it says who the company is in it....

[firefighter]

Are you going to name the company now?

To has at a guess.......as i've been through the same issues with "market value as opposed to "replacement value".......

I'm going to guess, that it's AMI?

I would'nt be surprised, thank fuck i'm with Vero-iv'e heard they actually pay out......(i'm hoping he's not gonna say vero!)