Victim of hit & run. Guy offers to pay out of pocket (srs)

[revok1200]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

Not sure?

Yes, you get your payout minus deductible, thats normal.

Do you have an estimate from a repair facility stating what they will charge for repairs? If not did the insurance company give you a repair shop they work with? If you don't have an estimate from a shop, don't cash the check from your insurance company.

Granted working with an insurance company is like working with the MOCO. They hold the power, but I wouldn't give in until you have a repair facility that will do the work for what the insurance company quoted.

Remember they quoted the price of repair minus your deductible, so yes you are out the $500 deductible, that was the insurance you chose. You can always go after the other guy for the deductible or difference from what insurance paid and the actual cost.

This is just like trying to get work done by the MOCO and they say it is normal and you know it isn't. (FRUSTRATING)

Good Luck

 

[horizonchaser]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

The guy drove off! He would have if he could, tried to get off without paying anything! Do it nice and legal and have HIS insurance company pay for it. His rates are going to go up but that is better than him hemming and hawing that he can't give you any money this week 'cause his kids sick or some other lame excuse to get out of owning up. I hate to seem so heartless but my sweet wife got rear ended by a guy and he agree to take care of it "out of pocket" but afterwards he said that it was her fault!! Now what were we to do? I have always remembered that lesson 'till this day and if I ever get into an accident and it's the other guys fault, I find it is a good idea to have a police ifficer involved. Now at least you have a witness and if he is cited, you have even more incontovertable proof. Good luck!

 

[Trek]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

I don't understand why your insurance company is giving you a check when they know who the guy is. His insurance company should be paying. Unless they are going to go after his insurance company for the bill in which case they will probably get the whole thing and they just made $500.00 keep us posted on how it goes.

 

[RideTheLightning]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

I don't understand why your insurance company is giving you a check when they know who the guy is. His insurance company should be paying. Unless they are going to go after his insurance company for the bill in which case they will probably get the whole thing and they just made $500.00 keep us posted on how it goes.

That is what I mean. Why am I out the $500 when I didn't do anything? This should be paid in full by the other party. I should not be paying a cent.

 

[whatyardwork]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

Now something doesn't feel right. As I stated in my last post, my own insurance company quoted the repairs at roughly $1700. They cut me a check for $1200 because I have a $500 deductible.

So I am out $500 for something that wasn't my fault in the least?

I called and left a message at the insurance office about 2 hrs ago with no response?. Did I just get played?

You have no worries as long as he has insurance,which your previous posts stated he does.

Because you filed a claim through your insurance company, you are subjet to the contract you signed with them (hence the $500 deductable).Trust me when I say they DONT want to pay anything.

In your situation this is a good thing.Right now your insurance company and his are in a heated battle of who was at fault.Seems to be a no brainer here.Once fault is determined you WILL be issued a seperate check $500 for your deductable.

 

[RideTheLightning]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

You have no worries as long as he has insurance,which your previous posts stated he does.

Because you filed a claim through your insurance company, you are subjet to the contract you signed with them (hence the $500 deductable).Trust me when I say they DONT want to pay anything.

In your situation this is a good thing.Right now your insurance company and his are in a heated battle of who was at fault.Seems to be a no brainer here.Once fault is determined you WILL be issued a seperate check $500 for your deductable.

Thank you. This puts me a little bit more at ease. The problem is that I would very much like my bike fixed NOW. I don't know how good it would be to go to a repair shop with my $1200 and get AT LEAST $1700 in repairs when I don't know how long the insurance companies are gonna duke it out for the other $500.

 

[horizonchaser]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

That is what I mean. Why am I out the $500 when I didn't do anything? This should be paid in full by the other party. I should not be paying a cent.

That's right. When I was in an accident and the other fellow was at fault, HIS insurance paid for everything. It didn't cost me a dime FWI. Hope that helps.

 

[rmarino14]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

Do it right and have the insurance company deal with it.

A few years ago my neighbor's sister backed into my truck and caused some damage. Since it was my neighbor's sister I didn't involve police or the insurance company. Long story short it ended up me having to almost physically threaten the husband because they were trying to back out of doing the right thing and fixing the damage she caused. In the end they fixed the truck and a year later he was in a bad motorcycle accident. Karma will always get you in the end. I believe this and always try to do the right thing no matter how hard it might be.

 

[fisherman124]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

get ur own estmates, ur insurance is going to go after his.if u know someone in the bussinness they will help u with the detuctable. at these times were in i think any local shop will help u with the detuctable just to get the work.they can add on that without any harm to them good luck.be thankfull u were not sitting on it ,or standing there with ur back to him

 

[SilverFoXD]

re: Victim of hit & run. Guy offers to pay out of pocket (srs) In

There is a lot more heat than light here. I spent my professional working career in a major insurance company and allow me to shed some light.

1. When you took out your insurance policy you agreed to a specific deductible on the collision coverage. Higher deductibles equate to lower premiums and you accepted the first level of loss. Who is at fault is not an issue. Frustrating, but that is what you agreed to (see item 6). There is no such thing as full coverage on collision, there is always a deductible.

2. Your insurance carrier, by contract, agrees to pay to "repair or replace with like kind and quality" (or similar wording), less any deductible, for damage to your vehicle (except what is covered under your comprehensive coverage or specifically excluded). Collision is the coverage that applies in this incident.

3. Once you file a claim the insurance policy provisions are activated. You have the right to withdraw the claim but if you do not, both you and the company are bound by the terms.

4. The $1,700 is the estimated cost to repair. You can do it yourself or you can have a shop do it, or a mixture of both. Most shops will do the work for the estimated amount, no questions asked. If there is hidden damage the shop will contact the insurance adjuster, they will work it out and you probably won't even be aware. If you do the work and find hidden damage, you do the calling.

5. When the bike is done at a shop, you take the $1,200 and your $500 to the shop, inspect the bike, and if OK, bring it home. There should be a warranty from the shop and the insurer, neither wants to be responsible for a defective repair.

6. Now since the other party is at fault and is identified, your insurer may, at their discretion, subrogate the at-fault party. Both the driver and his company are advised of the demand to pay the damages. In this case, the $1,700. If the at-fault party wants to pay he will either do so or sign a legally binding agreement to do so. You may not be aware this is going on, or the adjuster will keep you in the loop. Its their decision, not yours.

7. The first money back to your insurer is the deductible amount, which is sent to you. If subrogation is successful you get the $500 back before your insurer gets their $1,200.

8. Keep this one point in mind: Your insurance contract and the rules/rates in effect at the time of the loss determine how the claim is handled. If the at-fault party or his insurer calls you, refer them to your adjuster. If there are repeated calls, play the broken record. You are out of the loop when you filed the claim and the adjuster is the one handling. You purchased their expertise when you insured with them.

8. If you feel you need an attorney, the cost is yours. The claim is only worth so much and an attorney will not gain you anything over and above the cost to repair the bike. If he says he can, its insurance fraud.

9. As for the loan, it is not part of this claim as it is between you and the lienholder. You still owe on the loan. If the bike is totaled, the loss settlement check will be made out to you and to the lienholder. You take the check to them, both endorse, and the check applied to the loan. If the check is for more than the loan, you get the balance. If for less, you make up the difference or keep up the payments. It doesn't sound like there is a total loss situation here, and the lienholder may not even be on the check you received.

10. For the record, coverage for the items damaged in the loss are suspended until the bike is repaired. Insurers don't like to pay twice for the same loss. When the bike is repaired, give your agent a call and advise him, or send a photo, or stop by.

11. You must have a good rapport with your agent. Getting a check up front was unusual in my area as we wanted to be sure the repairs were made before we paid.

Hope this helps.