What can I do about the insurance company stiffing me on settlement for totalled vehicle?

I hit a cow one night at 60 mph. The issue of fault on the ranchers part was never in question and the rancher was in agreement about it being his fault. Ultimately, their insurance company offered me a settlement in which I did not agree with in the beginning. A week later they called back and gave me another settlement offer in which I did accept. I received the check and it is not what the agent quoted me so I called him and he told me that the quote he gave me was for the vehicle, rental replacement vehicle, tow fee, and some other fee. I did not have to pay a tow fee. Basically, he included it in my final payout but did not break it down and tell me that it was being included. I had to go get another vehicle so I let them know that as soon as I got the insurance check I would bring it in to them for the down payment on it. So ultimately I got 500 less than what he quoted me on the phone. What I am wanting to know is if I cash this check does that mean that I'm in compliance?

Drew P

Yeah, if you cash the check you are definately in compliance. But, if you had a verbal agreement or if you already signed something you may already be in compliance anyway. Don't cash the check yet and don't return it yet either.

This sounds like your first accident and the strategy that the insurance company used here is not uncommon with people who have first accidents. If you are insured, then your insurance carrier should have automatic coverage for hitting an animal ( I think it's called "Other Than Collision" coverage). I didn't quite understand who's insurance company is paying you, but I would call your own insurance company to see what they can do.

If it turns out that you cannot get any further, then go ahead and cash the check. This one, you might have to chalk up to experience at a cost of $500. The check should have about 60 days before it expires so try the other avenues first.

Good luck to you.

If you cash the check, it means that agree to the settlement amount. They can be a real drag to work with.

CowboyBill

If there was an error made during settlement then YES, you can probably work out the bugs in your deal. If you have signed a release (I have never, ever heard of a verbal insurance settlement) and there was no accounting or adjuster's error you are probably done. ACV is just that. There is always room for some negotiations but holding out for what you WANT will result in nothing. If you refuse to sign / cash the check and manage to talk the insurance company into reopening the claim be warned -- ALL previous negotiations are void and you start over from square one. Settlement may well be less than what you have now. If you cash the check (taking their money) it's over.

la428282

Why would you cash the check if you werent accepting the offer? You are clearly accepting it if you cash it.

You may want to give them a call and explain that you misunderstood but... total losses are RARELY negiotable. Actual cash value is what it is. They simply type in your vehicle.. put in the miles and options.. and out pops the value. Maybe you just paid too much for the vehicle and should be bad instead at your self?

rc1honda

Sorry Dude ur stuck if u settled for a amount under the blue book value then u got hosed, never settle for under blue book value u have to look it up and that is the only law they have to comply with other then that they will try thier best to pay u less the car is worth. Even more so if u have a cheap insurance like eagle or summthin best of luck to u

ca_surveyor

Read the back of the check. Usually if you cash it you are indicating that you agree with their numbers.

You have not indicated if you are dealing with the farmers insurance or your own... it makes subtle difference.

If you do not agree, your best bet may be to send a registered letter outlining your costs, providing (fresh) copies of your receipts and summarizing your total expenses in the matter to both the farmer and his insurance company. (Remember HE owes you the money, not them... they are acting for him).

Keep in mind that you are entitled to be made whole, but that will include the cost of the vehicle (before the accident of course) as it was worth. The value of the car is generally based upon adopted schedules and if you feel yours was worth more it will be up to you to prove that.

Keep in mind also that, by signing the check you are likely also transferring title of the car to the insurance company since the check represents (their estimate of) the full full value of the car.

You may need to pay for your new car, but that is not their issue. They only need to make you whole and the longer you disagree the more pressure you will be under to settle. Bottom line - move on it quickly. If you can not settle, then you need to file a small claims action against the farmer (or threaten to). That will hurry things along.

good luck

.

Scarlett360

Possibly.
Get copies of all paperwork, correspondence, & reports or claims. Then, contact your City Attorney's office.

Branden

Sue the insurence company!!!!!!!!

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