Insurance claims...how long?

[chopsy]

Thanks to all for responding and offering advice. It has really helped so far. I''ll try to explain the situation in few words.
On feb 18 a nasty powerboat caught on fire in it''s marina slip. The marina staff cut the boat loose and pushed it out into the harbor to burn. It landed alongside my boat causing extensive damages to my boat. I filed a claim with the other boat owner''s insurance (State Farm) and a claim with my insurance (Allstate). On monday I will file a claim with the marina''s insurance (this is a suggestion made by my Allstate agent).

The fire inspector has filed his report citing "no determination of origin of fire" and his case is closed.

My insurance company provided an estimate of what they thought the damages were to my boat. I assume that will be their settlement, now that they have decided the boat isn''t a "total loss". Lucky me.

State Farm insurance has told me that they need to establish "Liability" before they will offer a settlement. Is there really any question on liability? their insured''s boat damaged mine. I can only think that they are trying to determine if that policy is even valid.

My insurance, after really bad customer service, multiple arguments with the adjuster, a complaint filed with the state insurance commission, they are prepared to offer some sort of settlement. I understand by accepting it my rates will likely rise or I will be cancelled. I will have to pay the deductable. If I wait for State Farm to establish "liability" I may have to wait a long time. I do not know what I should expect from a settlement outside of just repair costs. Will it be different/better if I wait for State Farm as opposed to Allstate?

I don''t feel I can really trust my insurance company or State Farm because all of their advise in in direct opposition to each other.

So confusing. What should I be considering outside of just repair cost? What is fair?

Thanks!

Paul G.

I feel that Statefarm should pay the claim.

[bubb2]

With are due respect and having been through this myself, I didn''t see where you had an independent surrvey done or an estimate from a repair yard who can and will do the repairs to your sadifaction.

Do not take an offer untill the repair work has started and the boat is opened up. "hidden damage" can pop up and if you have singed an release you are out of luck should repairs coats be more than first thought.

In my case I was offered an check for $16,000 and asked to sign a release for a claim that when all the damages were discovered was close to $50,000


Please remenber Insurance people repersent the interest of the Co''s. not yours.

[jgeissinger]

The term for one insurance company going after another to recover damages is "subrogation". In my opinion, your company should be contacting the marina''s company and the other boat owner''s company. You shouldn''t have to do this. Also, and not to be insulting to any other Allstate agents, but offering a cash settlement before true expenses are known is a somewhat common tactic there, and I personally would not accept it until you really feel it is fair.

On the other hand, remember that insurance is there to make you whole, to restore you, not to make a profit for you. You shouldn''t be getting new for old. For example an entire paint job for partial damage, etc. Good luck.

[chopsy]

I agree with jimg. subrogation is how my insurance company should handle it. They want to enjoy my "full coverage" premiums and not do the work of covering my boat. They want me to go after the other boat owner and possibly have to get a lawer, fight with a big insurance company. Why do I pay full coverage if my insurance can always find another party at fault and send me away to persue them? I should just carry liability. Will repair shops begin work if I don''t have a settlement worked out with my insurance? seems unlikely to me. Will they just trust that they will get paid somehow and start ordering expensive long-lead time parts, like wooden masts?

Paul G.

[tm3]

Paul,
Has someone from your ins. co. whether directly from the ins. co. or hired by them done a repair survey of your boat?
If so, have they provided you with a copy of that repair estimate?
If so, do you agree with that estimate? ( making sure as cited by "bubb2" that they stipulate also taking care of "hidden damage".)
I would get my own repair estimate compare then discuss with your claim rep. if they are out of line with on another. (Arbitration)
REMEMBER: IT IS NOT YOUR RESPONSIBILITY TO CONTACT OTHER INS. CO''S. IT IS YOUR INS. CO''S RESPONSIBILITY TO MAKE YOU "WHOLE" AND FOR THEM TO SUBROGATE.
AGAIN I CITE "ARBITRATION" AND "ATTORNEY".
Refer to "bubb2" and the 36K difference.

tm3

[bubb2]

Chopsy

The repair yard doesn''t contract with the insurance co. to repair your boat. You contract with the repair yard for the repairs. You may be asked to front money to get the work started but in the end the insurance co is responable to you for the cost of the repairs. Read your policy beaware of deductables and depresation. I cant''t say it enough GET YOUR OWN SERVEY and esimate of repairs. With out it you have no leg to stand on with it comes to a despute about the costs. Or you can just take what they want to give you which will be a low ball figure.

[chopsy]

I have not had any individual who I have hired to survey the damage to my boat. I have interviewed the repair yard that my insurance co. had quote the work. I spent 3 hours with them on a Monday going trough the photos I brought and going over their bid, line item by line item. I am in the engineering biz and I estimate construction projects all day long. I also did all the restoration to this boat before the fire. So, with all of that in mind, I feel confident that I have checked all my bases on what it will cost to have the repair work done. I do agree with the repair yard''s estimate. I approve of their facility to do the work. I have not hired a surveyor to look at my boat. Here is the reason. I am in Kansas and REAL ABYC certified surveyors are impossible to come by. When we bought the boat in California, I hired an ABYC surveyor to look the boat over and tell me one thing...were there termites in any of the wood? His findings were "no termites" We bought the boat....we had termites. This surveyor would not review the rigging, the electrical, or the engine. I had to get separate surveys for that. My point...I feel I know as much as a surveyor would. I rebuilt all of the rigging. I rebuilt the diesel, I rebuilt all the electrical, hydraulic gearbox, water system. What can an overpriced surveyor tell me that I can really take to the bank. I know the boat infinitely better than he would. So I am inclined to accept the yard''s estimate.
So far my insurance has offered to pay the repair estimate only and require me to sign a waiver that will keep me from claiming "overages". Doesn''t sound like a good deal to me. If I want more than that, they will total the boat. Is my insurance company bound to pay "loss of use" as my boat will be out of commission for 7 months, estimated? What about all the expenses I incur traveling to the yard to review reconstruction progress and keeping the shop honest. It is a 6 hour round trip from where I live. My agent tells me that the other boat owner''s insurance would gladly pay all of those expenses, but my insurance will not. Why the difference? Aren''t they all held to the same state regulations, more or less?

Paul G.

[hamiam]

I wonder if your insurance company is saying that this may be a case in which the other parties are jointly and severally liable. Im not sure if I have this right but let me give you an example: say 2 kids vandalize your car and cause $500 worth of damage. I think you can sue each for the full $500. So, in the case of the boat perhaps you can go after both the marina''s insurance company and the boat owner''s insurance company for the full amount of any claims you have? ...and let them hash it out among themselves as to who is responsible for what. The marina may be protected under some sort of good samaritan law. Obviously Im not a lawyer, just a few thoughts.

[chopsy]

Well, as of late Friday night (40 days after I filed my claim)I think I have finally come to an agreement with my insurance company! Naturally I do not have a check in my hand, and they legally have 60 days to issue one. But, when I do have a check, I will finally believe it. Right now, it is just getting over hurtle number two. Another interesting bit of information relayed to me by the other boat owner''s insurance company (State Farm), The representative said that I should accept a reasonable offer from my insurance and when State Farm determines liability, he will settle with me on "Loss of use". My insurance refuses to pay that. The liability claim may do so.
So for now, we are anxiously awaiting a check in the mail...probably postage due. When we get it I will write a short summary of this whole mess to hopefully help out others in the forum. Thanks to all who have contributed to this thread. Your advice and suggestions were very helpful.

Paul G.