When you file a claim with your insurance company, being patient to receive an expected settlement check can be difficult. Like most who have been in this industry for any length of time, I have had the misfortune of enduring my share of insurance claims. Seldom have I gone through an insurance claim when a settlement was reached and paid as quickly as I had wished for. That slow, agonizing claims process always left me frustrated.
However, since becoming an insurance agent and witnessing claims investigations, I have a new appreciation for that slow pace. Before you completely dismiss me, let me share what I have learned. It is quite possible, in fact probable, you will come to the same conclusion I have.
In 2001, I was involved in a terrible accident. A car hit me on the passenger side of my 1994 W900 Kenworth, then spun in front of me and I "T-boned" the car broadside. The car spun again, now facing me on my driver’s side, and hit my driver’s side fuel tank, launching the car into the median. It came to rest under a bridge at the I-5, California 60 and I-10 junction in Los Angeles. One witness stopped and immediately checked on the driver of the other car (thankfully, his injuries were very minor), then came to check on me. He remained at the scene and insisted on providing a statement to the investigating police officer. The witness informed the officer that the car literally ran right into the side of my truck as if they had hit my truck deliberately.
The damage to my truck was significant, but not to the point that I was unable to repair it myself. I took a week off work and replaced the bumper and one wheel; repaired both fuel tanks, fenders, etc.; and got back to work. The claim seemed to be taking forever, and I wanted to be reimbursed for my loss (repair expenses), especially when the witness indicated that this was a deliberate act by the driver of the car. After several months went by, I finally received a notice from my insurance company that the investigation of the claim was complete and that my policy would not pay for any medical or property damage to the other driver or the car he was driving.
The adjuster’s investigation discovered several things.
The adjuster concluded that this was a case of insurance fraud. I did not want a claim on my policy (even for uninsured motorist), so I did not accept a claim settlement check for reimbursement of my repair costs.
Had the insurance company not fully investigated the claim, with or without the eyewitness, and simply settled the claim quickly because that big, bad, ugly truck darn near ran over that poor, innocent little car, both I and the insurance company would have been victims of insurance fraud. It could have cost the insurance company an untold amount, up to $1 million (my policy’s limit of liability), and dramatically increased my premiums for years to come -- or put me out of business altogether.
