GAP Coverage and Auto Claims

You have become involved in an accident and your car is totaled.  Luckily for you, you have GAP Coverage.  So how does it work exactly?  After the insurance company figures out how much the car is worth and settles the claim, you may still owe the lien-holder a balance. This is because the insurance company is obligated to pay only the  actual cash value (ACV) or your vehicle, regardless of how much is left on your loan. Read More »

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Ambiguous Policy Language

Most insurance policies are issued on a take it or leave it basis.  They are known as “contracts of adhesion,” meaning they do not allow for negotiation.   This basically means that they have a policy available for you to purchase “as-is”, and you have no right to alter any of the policy’s wording.  You accept the policy with all its conditions, exclusions, clauses, etc.   Many mortgage and leases agreements are also examples of “contract of adhesion.”Because of this, much of the power goes to the insurance company. Read More »

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Consumer Watchdog giving it to Mercury Insurance

mercury 2

In Los Angeles, the non-profit group Consumer Watchdog has posted a bright yellow billboard stating “YOU CANT TRUST MERCURY INSURANCE.”  It was conviently placed on popular Wilshire Blvd, about 1/2 a mile away from Mercury’s corporate headquarters.

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Have Mercury Insurance? You might want to check this out.

Consumer Watchdog has an interesting article, titled “Top 10 Reasons Why You Cannot Trust Mercury Insurance Company.” Take a quick read and come up with your own conclusion.

http://www.consumerwatchdog.org/insurance/donttrustmercury/

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Interesting Description of a Claims Adjuster

“A desk job.  Is that all you see in it?  Just a hard chair to park your pants on from nine to five?  Just a pile of papers to shuffle around and a sharp pencil and a scratch pad to make figures on, with maybe a little doodling on the side?  That’s not the way I see it, Walter.  To me a claims man is a surgeon, and that desk is an operating table, and those pencils are scalpels and bone chisels.  And those papers are not forms and statistics and claims for compensation.  They’re alive!  They’re packed with drama, with twisted hopes and crooked dreams.  A claims man, Walter, is a doctor and a bloodhound and a cop and a judge and a jury and a father all in one.”

-Edward G. Robinson, talking to Fred McMurray, in Double Indemnity, MGM, 1941

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“The 10 Worst Insurance Companies in America”

I was doing some reading on problem insurance companies, and happened to stumble upon a great article, http://www.cjadvertising.com/includes/worst-insurance-providers/TenWorstInsuranceCompanies.pdf

Its written by the American Association for Justice, and they did a great job compiling a list of the top 10 worst insurance companies in America.  Their results were based on info gathered from court docs, SEC and FBI records, state insurance dept. records, complaints, adjuster interviews, etc.  They did a great job of going into a bit of detail with each company.  Its a bit long, but a great read.  Check it out!!

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Welcome to the AutoClaimsGuide.com blog.

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