How to deal with Insurance Company

[RDM]

Had an accident with Spyder. Not my fault. 2017 RTL totaled by Progressive. They want to settle for $10,000. Value twice that amount. No medical claim. Just want fair settlement. Anyone had experience with this and how to solve?

[RDM]

Had an accident that was not my fault. 2017 RTL totaled by Progressive. They want to settle for $10,000 which is half of value. No medical claim. Just want a fair settlement. Live in Florida, accident in Florida. Anyone had to deal with this and how did you get a fair settlement?

[cueman]

The lesson I learned long ago is (insurance companies are not in business to lose money) cueman

[LifeLongRider]

Kelly Blue Book lists the value of a 2017 RTL as: $13,550 trade-in value, $17710 Typical List Price. Seems like the insurance company would settle for at least trade-in value but I believe that many now days will settle for actual replacement value in case of a total. I've heard this before about Progressive.

[Peter Aawen]

Dunno if it's the same over there in the US, but here in Australia, (depending a little upon the type of insurance you took out ) you don't necessarily HAVE to accept whatever offer the Ins Co might make first up as a write-off value; you can argue that your Spyder is worth more and ask for a better write-off pay-out. But if you do that, you should provide them with at least some evidence if not proof to support your argument - valuation details, prices of directly comparable machines in your area, whatever you can get to show that they are not giving you fair value.

As others have said, the Ins Co is not in the business of losing money, so any offer they make is likely to be tending towards the lowest figure that they think they can get away with. You need to show them that:

1). They're not getting away with an offer THAT low without an argument; &

2). You've got (a lot?) of evidence showing that their offer is a low-ball offer, so it's clear that if it comes down to a legal
argument with you about this, it's not going to be a simple cake-walk for them!!

Being assertive but realistic, and most importantly, be reasonable and polite, get all your info & evidence in line, make sure it stacks up, and go back to them with an alternative figure - actually GIVE them a $$ value that you'd be prepared to accept AND SUPPORT IT with your evidence, being very aware that they'll probably counter your counter offer with a value somewhere in-between their low-ball $ figure & your demanded $ figure! So don't ever think that you should 'go easy' on them at this stage or 'be more than reasonable' & maybe knock a little bit off the $ value you can support just to show that, at least not at this stage (they're gonna be like sharks on this - if they sense a weakness or smell blood, they'll go into a feeding frenzy!); but at the same time, don't go so nuts with your $ demand so that they can immediately write you off as an unrealistic dreamer! They WILL have evidence to support their offer, so you need to be prepared to argue and have some evidence just as good as theirs to suppport your counter demand.

And if you do all that, very carefully walking the line between 'being realistically assertive' and being 'an unrealistic nutter who's clearly over-valued their wreck', you'll stand a good chance of being able to get something closer to what you want as a write-off value!

[RICZ]

RDM.......I do my own dealings with insurance companies and learned a few things about getting my way and it's much like Peter said.
Claims agents are under pressure to; 1. Get a claim off their desk ASAP as other claims are pouring in. 2. Pay as little as possible, or even nothing if possible.
Your job is to be patient and even tempered.
By that I mean, take your time and don't settle until you get the amount (or close to it) you desire.
Be polite but assertive - don't try to be chummy, they are not your friend. They are your chess or poker opponent.
Don't threaten to take them to court, they love that. They have a bunch of attorneys sitting around, sharpening their knives just waiting to cut you to pieces.
Good luck and do keep us posted.
What happened?

[sduskin]

I also have Progressive. Did you have the "Actual Cash Value" option checked?

[IdahoMtnSpyder]

Ask them to show you exactly what they base their valuation on. Then as Peter says be prepared to show them realistic numbers about what a similar Spyder sells for in your area. Give them the option of finding and giving you a Spyder comparable to the one you lost rather than a check. Refuse to be rushed, or pushed.

Then if you are still hitting a brick wall after several days calmly and without threatening, tell them that considering how they are treating you, you have no option but to file a complaint with the state insurance commissioner. Agents don't want to deal with the state insurance commission. Some states even have a consumer advocate available. A friend of mine years ago got a check within a couple of days for the amount he wanted after he suggested he was going to contact the insurance commission.

[BLUEKNIGHT911]

Tell them thanks , but NO thanks .... ask them to replace your Spyder with the same year , mileage , and mods you've done with one they have purchased ...... jmho .... Mike .......... Question, if it wasn't your fault ... why isn't the other persons insurance paying for this ?????

[JP58]

Get Allstate. I have the premium package for car and bike. I pay 225 a year on my 18 F3L. (Wisconsin) & 100 % replacement first 2 yrs. That is new bike. Then retail value after that. My buddy has same. Total his 6 yr old victory cc tour with 41,000 miles on it and still got almost 13,000. That was more than retail. They gave him money for some accessories that broke. The rest he took off and sold.

[Tango]

OK. Do your research. Go to your dealer. Ask for a valuation of the model and year you have. Check if he has one used for sale. Have him write it up. Then check all the used bikes for sale. Your year, and the year before. Make some kind of sheet to keep track of all this. KBB, NADA are also your friend here. No need for lawsuit, or lawyer in involvement. Do you have rental reimbursement on your policy? Let them know you will be renting a vehicle till they settle. Also check into your state insurance laws. You can take them to an insurance hearing in front of an arbitrator. That arbitrator doesn't care how many fancy lawyers they bring. After a 2 weeks of going back and forth and getting no where. I told them I was contacting the state insurance dept. to request a hearing as their offer was inadequate, and grossly unfair. I had a settlement to my liking the next day. Persevere! Tom

[YIRYDE]

When I had Progressive, I had coverage for my major mods and accessories. If you have this coverage and have any mods/accessories with receipts to verify the purchase show them the receipts for replacement of that mod/accessory.

[IdahoMtnSpyder]

Tell them thanks , but NO thanks .... ask them to replace your Spyder with the same year , mileage , and mods you've done with one they have purchased ...... jmho .... Mike .......... Question, if it wasn't your fault ... why isn't the other persons insurance paying for this ?????

The OP didn't say which insurance company he's trying to get a settlement from. Probably the other guy. My brother got hit a couple of weeks ago and his Cad was totaled. His insurance gave him a good settlement under the collision provision of his policy. They will then go after the other company to get fully reimbursed, including my brothers deductible. The other insurance company was giving my brother the hard line so he turned to his own insurance. In a case like this sometimes it's better to collect and let the insurance companies fight it out between themselves.

[Bfromla]

Had an accident that was not my fault. 2017 RTL totaled by Progressive. They want to settle for $10,000 which is half of value. No medical claim. Just want a fair settlement. Live in Florida, accident in Florida. Anyone had to deal with this and how did you get a fair settlement?

sorry to hear, glad no medical, Don’t have to accept (no such thing as “fair settlement” just shut up $$) that’s just the first & lowball # they hope you take so you can’t ask for more later. Get proper repair estimates in writing from their Insuranse inspectors, yours & a dealer or two, also replacement with new. Sorry but it’s gonna be a painful headache & probably lengthy too this virus ain’t gonna help matters. Just be careful in the # they will offer to shut you up by settling They can wait & know how to temp you not to. More pain will include replacement rental will more than likely be a car economy sized at that hopefully you won’t need a lawyer, but not being at fault it wouldn’t hurt to start looking.

[ARtraveler]

The OP didn't say which insurance company he's trying to get a settlement from. Probably the other guy. My brother got hit a couple of weeks ago and his Cad was totaled. His insurance gave him a good settlement under the collision provision of his policy. They will then go after the other company to get fully reimbursed, including my brothers deductible. The other insurance company was giving my brother the hard line so he turned to his own insurance. In a case like this sometimes it's better to collect and let the insurance companies fight it out between themselves.

It is easy to miss one word or letter sometimes...ask me how I know.

OP mentioned Progressive.

[IdahoMtnSpyder]

It is easy to miss one word or letter sometimes...ask me how I know.

OP mentioned Progressive.

But is that his insurance or the other guy's? If it's his insurance, and the other driver is at fault, I feel for him.

[ndspyderlover]

Had an accident with Spyder. Not my fault. 2017 RTL totaled by Progressive. They want to settle for $10,000. Value twice that amount. No medical claim. Just want fair settlement. Anyone had experience with this and how to solve?

contact your states insurance commissioner. they should resolve it.

[UtahPete]

Had an accident with Spyder. Not my fault. 2017 RTL totaled by Progressive. They want to settle for $10,000. Value twice that amount. No medical claim. Just want fair settlement. Anyone had experience with this and how to solve?

From everything I have read on the subject, Progressive is one of those companies that keeps premiums low by limiting their exposure to claims, legitimate or otherwise. It's in the fine print somewhere I'm sure, but what is the reason THEY are giving for the lowball offer?

[tntnj]

My son s car was totaled while it was parked and it was a 2017 Honda civic SI they offered him a low ball price He did not accept it , he talked to the adjuster and the adjuster said there is a way they come up with the price to pay for a totaled vehicle's(They don use NADA prices they use an off brand third party one). He fought with the insurance company and got prices of vehicles like his and what they were going -on lots and private sales. He wind up getting àbout 3500 more

[IdahoMtnSpyder]

I don't recall the details of what or when, but a guy I knew years ago had his car totaled. He simply told the insurance company to replace his car, period. They found one in their own pool of vehicles and gave it to him.