PROBLEM WITH STATE FARM INSURANCE

Description of your first forum.

PROBLEM WITH STATE FARM INSURANCE

Postby ricardojimenez.10172 » Wed Aug 01, 2012 5:57 pm

We repossessed a car full cover insured by State Farm Insurance, the car has a damage at front, after the adjuster came and inspect it, State Farm will not pay us for the damage
arguing that if we sell the car as is, we will recover the amount of the loan, does somebody has this problem before? I believe that the insurance company has nothing to do if we
sell the car with a profit or not, if the policy was enforced at the time of the accident they should pay no matter what, or am I wrong?
ricardojimenez.10172
 
Posts: 11
Joined: Tue May 22, 2012 8:32 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby markgallaher449.4224 » Wed May 15, 2013 2:52 pm

be sure you are listed as lien holder. some ins companies are insisting you be listed as
additional insured which can raise the premium. they should pay for the damage regardless of how you dispose of it.
if they do not want to pay us and we think we are entitled we file law suit. we collect a lot of ins money.
markgallaher449.4224
 
Posts: 4
Joined: Tue May 22, 2012 5:33 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby combs.3602 » Fri May 17, 2013 6:05 pm

Hi Ricardo - I am not very happy with insurance companies.They will pay you the least amount possible regardless of what is right.Like Mark, we have to take them to task.We have an employee designated to deal with insurance.Sometimes we are able to negotiate ,other times we have to file a complaint.Usually we do so through our attorneys. Good luck :) Dennis Combs Boise
combs.3602
 
Posts: 75
Joined: Sat Aug 25, 2012 4:31 pm
Location: Nampa and Boise,Idaho

Re: PROBLEM WITH STATE FARM INSURANCE

Postby Brownings.5298 » Tue Jun 25, 2013 4:57 pm

State Farm's idea is the dealer has not had a loss until the car is reposessed and/or sold. I agree with you, it's none of their business if we profit or not. We have had several instances where a claim was made and State Farm makes the check to the policy holder only even if there is a listed leinholder which they state is company policy. Down the road we repo the car, it has damage, we turn in a claim only to find out the damage has already been paid for. We now have to argue that the loss has occured since we have repoed the vehicle and State Farm sends out another check to us for the damage. This policy makes zero sense to me, but hey, we get our money. If they give you too much trouble I would suggest getting all your info together and file a complaint with the state insurance board.
Justin Browning
Browning's Reliable Cars & Trucks
Brownings.5298
 
Posts: 13
Joined: Mon Mar 07, 2011 3:45 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby Dealer2002.12635 » Fri Jan 03, 2014 11:34 pm

I understand that I am obviously Jonnie come lately here. However, I can't stand State Farm lien holder interest clause isn't worth the paper it's printed on they appear to do anything they want. In Pennsylvania years back we had a customer that wrecked their car brought it to the lot and my service manager went into gear to get estimates while waiting on State Farm. They were told that that there could be additional repairs needed but could not determine until some body work was removed/repaired they were given the written estimate and the adjuster gave the ok to start work. Sure enough other damages were located and submitted. Now it's get's good...the customer stopped communicating and when they were reached they told my service manager that we could keep the car they went out and bought another car. Then we find out that State Farm insued the $5k check directly to the customer without our name on it and even though we were listed as lienholder on the policy..when questioned they stated that they can do what they want. I have never in my life before have I ever wanted to grab that person through the phone and and run them through a wood chipper.. :evil: . The customer should up in the office with the supplemental check which he signed over and then State Farm stopped payment on it...We did file suit against State Farm..but unfortunately my small town and smaller minded attorneys had never delt with this before and the judge had no clue what to do..so he ruled against us...and before you ask we did file a complaint with the state DOI and was told basically they are a big company and can do whatever they want..(Paraphrased) but you get the point..so going to the DOI was like putting a condom on after the fact...useless..pardon the rant..but when I hear their name it get's my blood boiling.

Robert
Dealer2002.12635
 
Posts: 3
Joined: Fri Jan 03, 2014 10:42 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby Dealer2002.12635 » Fri Jan 03, 2014 11:41 pm

One thing I will mention here...In Pennsylvania there was one thing that I did do whenever a customer wrecked or damaged their car without insurance or less then full coverage as required. State DMV law allowed the creditor after court judgement to file a form that would suspend their drivers license indefinately until the judgement is either paid or unless I released it...This process takes about 4-5 months..but when they get the DMV notice and call the office..it's priceless..and there isn't anything they can do about it. I would like to know what other states have something similar.

Robert
Dealer2002.12635
 
Posts: 3
Joined: Fri Jan 03, 2014 10:42 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby BHPHsolutions.7525 » Mon Jan 06, 2014 10:29 pm

Ricardo,
It looks like the State Farm rep is doing what's good for their company, but not for you. If the vehicle was fully insured it seems unfair to only offer you a partial payment.

Any update? Have you spoken with State Farm again?
BHPHsolutions.7525
 
Posts: 9
Joined: Wed Oct 16, 2013 5:59 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby ricardojimenez.10172 » Fri Jan 24, 2014 3:05 pm

They never pay me a dime, because they told me that if I sell the car as is, I should get my money back, I ended with $640 under, I'm trying to collect from the customer but, without a collateral that will be difficult
ricardojimenez.10172
 
Posts: 11
Joined: Tue May 22, 2012 8:32 pm

Re: PROBLEM WITH STATE FARM INSURANCE

Postby jbrowning.3695 » Fri Jul 11, 2014 4:28 pm

Did you ever talk with your State Insurance Board?
jbrowning.3695
 
Posts: 5
Joined: Tue Mar 08, 2011 8:50 pm


Return to Your first forum

Who is online

Users browsing this forum: No registered users and 1 guest

cron