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re: Car Insurance - "What is your claim worth"?
Posted on 2/18/20 at 3:35 pm to lsu13lsu
Posted on 2/18/20 at 3:35 pm to lsu13lsu
My wife sold her car. For some reason the insurance company neglected to delete it. The new owner had a wreck, the other driver filed a claim on my wife's insurance, and the company paid it. It was USAA, BTW
0
Posted on 2/18/20 at 3:37 pm to Verbal Kent
quote:
Verbal Kent
According to this study... we are the 10th deadliest state in the country for crashes.
We have the fourth highest fine for distracted driving, 5 times the national median. But we have the third worse rate of issuing tickets for this. Maybe we need to talk to the police chiefs.
LINK
Posted on 2/18/20 at 3:42 pm to LSUFanHouston
I am guessing by the end of it, we will all have to install cameras recording everything like they do in Russia to fight this battle. We cannot expect our government, insurance companies or law industry to remedy the situation.
Posted on 2/18/20 at 3:43 pm to Verbal Kent
You may understand the law, but you don't understand business. Insurance rates would go down because of competition. They lowered their rates last year because they were losing customers. If the bill would have passed more carriers would enter this awful market, bringing premiums down lower.
The patented scare tactic of "I'd hate for it to be you on the injured side needing care for the rest of your life and only get $200k" is the easiest way to identify the plaintiff attorney in the group, which there seem to be plenty of in here. That situation is so rare that it doesn't need to be discussed; yet you hear it in every single one of these arguments. There are ways to address that specific type of claim without leaving the door open to the frivolous lawsuits that plague our state. In your defense, I think both sides (insurance companies and attorneys) are in on the racket in LA. Insurance companies like stability (they're just balancing payouts and premiums with hopefully a little more on the premium side), and lawyers love the payouts.
The bill that was proposed would definitely lower premiums in the state, but no one can (or should) guarantee that under oath. You cannot guarantee the sun will come up tomorrow under oath. Every single item in the bill would address what makes our state different, and worse, when it comes to insurance.
The patented scare tactic of "I'd hate for it to be you on the injured side needing care for the rest of your life and only get $200k" is the easiest way to identify the plaintiff attorney in the group, which there seem to be plenty of in here. That situation is so rare that it doesn't need to be discussed; yet you hear it in every single one of these arguments. There are ways to address that specific type of claim without leaving the door open to the frivolous lawsuits that plague our state. In your defense, I think both sides (insurance companies and attorneys) are in on the racket in LA. Insurance companies like stability (they're just balancing payouts and premiums with hopefully a little more on the premium side), and lawyers love the payouts.
The bill that was proposed would definitely lower premiums in the state, but no one can (or should) guarantee that under oath. You cannot guarantee the sun will come up tomorrow under oath. Every single item in the bill would address what makes our state different, and worse, when it comes to insurance.
Posted on 2/18/20 at 3:49 pm to Verbal Kent
quote:
Verbal Kent
quote:
the fact that our minimal limits are 15K which is the lowest in the country
LINK
Well let's see...
We have according to this, 15/30/25
Bodily injury per person, no one has less than us, but 4 other states are at 15. Hell, Florida and NH don't require it at all!
Body injury per accident... at 30, again, no one less than us, 4 states are the same, at 30. Arizona, California, NJ, PA.
Now, property damage... we are at 25... we actually have a much higher level than a lot of states.
So... 4 states have same low bodily injury mins like we do. We have the 2nd highest cost of coverage.
How do the others rank:
LINK
CA - 6th (with a much higher cost of living... their insurance is cheaper... hmmm)
NJ - 20th (again, higher cost of living, lots of urban areas)
AZ - 22nd
PA - 38th (with one of the largest crapholes in the country, Philly, and an area hit hard by the changing economy, Pittsburg)
Verbal Kent, we aren't doing too well with your reasons here, are we?
Posted on 2/18/20 at 3:56 pm to LSUFanHouston
Yes, but they sound great and most people won't do the research. "Our roads suck!"
Like how can you even compare that fairly?
Like how can you even compare that fairly?
Posted on 2/18/20 at 4:01 pm to CaptainsWafer
quote:
Is there no process at all in this state that someone has to prove injuries to get this kind of pay out?
Yes. That all didn’t go down over the weekend.
ETA You think the insurance companies will just give out $250k all willy nilly?
I get that, but is it basically just having the injury lawyer steer these people to doctors who will spin a story about it being a real injury. I'm sure back and neck injuries are the usual.
And yes the $250K is an outlier, but we always hear about people getting payouts on minor accidents where there was no way in hell someone was injured.
Posted on 2/18/20 at 4:17 pm to lsu13lsu
quote:
Yes, but they sound great and most people won't do the research. "Our roads suck!"
Like how can you even compare that fairly?
lawyers like to think of themselves as the smartest people in the room.
Yet, they spit out such garbage about topics like this.
Posted on 2/18/20 at 4:40 pm to lsu13lsu
quote:
A few weeks later a legal letter came in saying they were filing suit for insurance maximum because she had her grandkids in the car and all were injured.
No one sends a demand letter within a few weeks for $250K unless there are serious injuries. I'm calling bullshite
Posted on 2/18/20 at 5:29 pm to LSUFanHouston
every estimate that comes across my desk is at least 30% low. Office and field adjusters, alike, do not write a complete sheet. After the recent hail storm, the estimates I saw were generally 50-60% low.
"Get a check in their hand and move on to the next one."
USAgencies adjuster: "We don't write blends or R&I's and we never write to replace (in the field)."
Insurance adjusters are graded by their respective companies on performance and severity of claims. These grades directly affect their pay and bonus schedules. Of course they are going to short-change the consumer.
Progressive adjuster: "I'm not putting that on an estimate, BECAUSE IT COMES OUT OF MY PAY!" (it was a heated "negotiation")
Along these same lines, Insurance companies have set up "agreements" (contracts called Direct Repair Programs [DRP's]) with repair facilities. The repair facilities are now held to the same grading policies that the adjusters are held to. They don't receive bonuses or extra pay but they do receive referrals based on a ranking system. These rankings are based on how much money they save the insurance company in both, repair costs and rental costs. The insurance companies refer to this as being "competitive" in your area.
What does this have to do with the price of tea in China?
The repair rates for any area are set by the insurance companies (usually State Farm) whether the repair shop is a DRP or not. The insurance companies will only pay this rate and the consumer is responsible for any overages charged by the repair shop. Why? Because silly, the insurance companies will only pay the "prevailing rate" in that area. But... they set the prevailing rate... and around we go!
But don't worry! Every 7-8 years, the insurance company will give the repair shops a $2-3/hr raise.
But DLauw, that's price fixing and would insinuate that insurance companies collude to set rates. Isn't that the same thing as setting up trusts? Shouldn't the antitrust laws make that illegal?
Of course it's illegal if you're not an insurance company. (McCarran-Ferguson antitrust exemption). What's really funny is this is the verbiage from State Farm's DRP "Agreement":
Now, Louisiana has some of the lowest repair rates in the United States but has the highest premiums. We can all thank Jim Donelon for that! He's been the insurance commissioner for 4 fricking terms. His top campaign contributors are almost all insurance companies. How in the hell can we expect someone to regulate an industry that is receiving funding from that industry?
Every one in Louisiana should print these documents out and put them with your insurance card to protect yourself and know your rights:
Advisory Letter NO. 04-02 Adjustment of Automobile Insurance Claims Payment for Paint and Materials LINK
Advisory Letter NO. 07-01 Repair of Motor Vehicles -Statement of Principles LINK
Directive 186 PROPER USE OF COST OF AIRBAG IN DETERMINING "TOTAL LOSS" OF VEHICLE LINK
RS 22:1293 automobile insurance total loss provision LINK
RS 22:1969 Penalties for insurance companies who are found in violation or policies LINK
Directive No. 18 Automobile total loss settlements LINK
Directive No. 143 AFTERMARKET CRASH PARTS DISCLOSURE REQUIREMENT LINK
Directive No. 183 (RE: La.R.S. 22:672) Automobile Insurer Responsible For All Towing and Storage Service Charges LINK
A lot of this information goes beyond the OP's original question but I want to provide it anyway. The point is- Our higher rates are attributed to our commissioner and a fertile un-knowledgeable populace where premiums can grow and flourish with a hefty pile of "it's the lawyers and uninsured motorists fault" bullshite.
"Get a check in their hand and move on to the next one."
USAgencies adjuster: "We don't write blends or R&I's and we never write to replace (in the field)."
Insurance adjusters are graded by their respective companies on performance and severity of claims. These grades directly affect their pay and bonus schedules. Of course they are going to short-change the consumer.
Progressive adjuster: "I'm not putting that on an estimate, BECAUSE IT COMES OUT OF MY PAY!" (it was a heated "negotiation")
Along these same lines, Insurance companies have set up "agreements" (contracts called Direct Repair Programs [DRP's]) with repair facilities. The repair facilities are now held to the same grading policies that the adjusters are held to. They don't receive bonuses or extra pay but they do receive referrals based on a ranking system. These rankings are based on how much money they save the insurance company in both, repair costs and rental costs. The insurance companies refer to this as being "competitive" in your area.
What does this have to do with the price of tea in China?
The repair rates for any area are set by the insurance companies (usually State Farm) whether the repair shop is a DRP or not. The insurance companies will only pay this rate and the consumer is responsible for any overages charged by the repair shop. Why? Because silly, the insurance companies will only pay the "prevailing rate" in that area. But... they set the prevailing rate... and around we go!
But don't worry! Every 7-8 years, the insurance company will give the repair shops a $2-3/hr raise.
But DLauw, that's price fixing and would insinuate that insurance companies collude to set rates. Isn't that the same thing as setting up trusts? Shouldn't the antitrust laws make that illegal?
Of course it's illegal if you're not an insurance company. (McCarran-Ferguson antitrust exemption). What's really funny is this is the verbiage from State Farm's DRP "Agreement":
quote:
Section 5. General
g. Business Ethics/Anti-Trust. Provider agrees to follow ethical and professional conduct in its business practices with State Farm and vehicle owners. Provider further agrees not to disclose, discuss, or share labor rate or pricing information with other repairers, and acknowledges this activity may be construed as illegal price fixing.
Now, Louisiana has some of the lowest repair rates in the United States but has the highest premiums. We can all thank Jim Donelon for that! He's been the insurance commissioner for 4 fricking terms. His top campaign contributors are almost all insurance companies. How in the hell can we expect someone to regulate an industry that is receiving funding from that industry?
Every one in Louisiana should print these documents out and put them with your insurance card to protect yourself and know your rights:
Advisory Letter NO. 04-02 Adjustment of Automobile Insurance Claims Payment for Paint and Materials LINK
Advisory Letter NO. 07-01 Repair of Motor Vehicles -Statement of Principles LINK
Directive 186 PROPER USE OF COST OF AIRBAG IN DETERMINING "TOTAL LOSS" OF VEHICLE LINK
RS 22:1293 automobile insurance total loss provision LINK
RS 22:1969 Penalties for insurance companies who are found in violation or policies LINK
Directive No. 18 Automobile total loss settlements LINK
Directive No. 143 AFTERMARKET CRASH PARTS DISCLOSURE REQUIREMENT LINK
Directive No. 183 (RE: La.R.S. 22:672) Automobile Insurer Responsible For All Towing and Storage Service Charges LINK
A lot of this information goes beyond the OP's original question but I want to provide it anyway. The point is- Our higher rates are attributed to our commissioner and a fertile un-knowledgeable populace where premiums can grow and flourish with a hefty pile of "it's the lawyers and uninsured motorists fault" bullshite.
Posted on 2/18/20 at 6:45 pm to Verbal Kent
quote:
That sounds like communism. Are you a closet Stalinist?
Nice try.
quote:
I will never take a fee greater than my client's recovery, so when a case goes bad (and they do) I suffer with my client.
Your altruism almost had me in tears.
Not to worry. The legislature is littered with lawyers and the leader of this state just got reelected by a voter base who continues to fall for this barrage of bs against the big, bad, insurance companies.
How about an experiment? Let's adopt tort reform that mimics the structure of the cheapest 3 or 4 states, and give the system 5 years to play out. The risk to our state is almost nil.
If the rates are not reduced significantly, then it should be easy to revert to our current system.
Would Stalin approve of this novel approach?
Posted on 2/18/20 at 6:48 pm to DLauw
quote:
What does this have to do with the price of tea in China?
Again... HOW IS THIS DIFFERENT FROM ANY OTHER STATE????
Cheap adjusters are in every state.
Cheap adjusters being rewarded by insurers, happens in every other state.
DRP relationship / prevailing rates, again, happens in every state.
quote:
His top campaign contributors are almost all insurance companies. How in the hell can we expect someone to regulate an industry that is receiving funding from that industry?
12 states have an elected insurance commissioner. We are 1, and the other 11 have lower rates than we do. I'm pretty sure the other 11 get campaign contributions, and likely a majority by the companies they are supposed to regulate.
The rest are mostly appointed by governors, who sure AF are getting campaign contributions to influence their appointments.
Try again.
Posted on 2/18/20 at 6:50 pm to 2tigergo
quote:
How about an experiment? Let's adopt tort reform that mimics the structure of the cheapest 3 or 4 states, and give the system 5 years to play out. The risk to our state is almost nil.
I mean, I'd settle for the structure of the 25th cheapest state, just to see how it goes.
Posted on 2/19/20 at 10:09 am to LSUFanHouston
quote:
unenforced distracted driving laws
Are they less unenforced than other places? Seems like I'm always reading stories all over the country about accidents involving distracted driving.
----------------------------------
Louisiana has the 4th highest fatality rate associated with distracted driving in the country.
unenforced distracted driving laws
Are they less unenforced than other places? Seems like I'm always reading stories all over the country about accidents involving distracted driving.
----------------------------------
Louisiana has the 4th highest fatality rate associated with distracted driving in the country.
Posted on 2/19/20 at 10:21 am to LSUFanHouston
Many of those states you cited are "no fault" insurance states. I have a case in Pennsylvania right now and have dealt with cases in Florida. In both cases, you make a claim against your own insurance when you are involved in an accident. That is why Florida does not have minimal liability limits. However, those policies convert to liability, if they are in an accident with an out of state driver that does not have "no fault" insurance.
Posted on 2/19/20 at 10:23 am to lsu13lsu
Yes, but they sound great and most people won't do the research. "Our roads suck!"
Like how can you even compare that fairly?
--------------------------------------------------
All you have to do is cross the state line and pass into Texas to see the difference in the roads.
Like how can you even compare that fairly?
--------------------------------------------------
All you have to do is cross the state line and pass into Texas to see the difference in the roads.
Posted on 2/19/20 at 10:34 am to Number 9 Fan
There is a reason I can I sure the same vehicle with the same coverages in Arizona for $90 a month and it costs $250 a month in Louisiana. Same insurance company.
It is because insurance companies are paying out that much more money in La
Premiums are based on loss ratios. Insurance companies cannot overprice their product, they have to stay competitive. Actuaries will tell you if they make 1 penny on a policy in a year then they did their job correctly.
If they make more the product is overpriced and not competitive. If they make less they cannot continue to do business because they are operating at a loss.
It is because insurance companies are paying out that much more money in La
Premiums are based on loss ratios. Insurance companies cannot overprice their product, they have to stay competitive. Actuaries will tell you if they make 1 penny on a policy in a year then they did their job correctly.
If they make more the product is overpriced and not competitive. If they make less they cannot continue to do business because they are operating at a loss.
This post was edited on 2/19/20 at 10:36 am
Posted on 2/19/20 at 10:44 am to 2tigergo
I am about to quit taking the bait and get back to work, but I am going to tell an old story that will probably let some of the readers know who I am:
I started by career as an insurance defense attorney. My senior partner was assigned a case involving a death. Accident happened in North Carolina, but the suit was filed in Louisiana because the company that caused the death was headquartered here. A 20 year old kid was working on a construction site, driver of a paver that worked for another company backed up over him (yes, it was very much like the recent scene in Narcos-Mexico) and he was turned to paste. The biggest issue was that the workers for the other company had disengaged the back up beeper on the paver, so he did not hear it backing up on him. He had a 19 year old wife and a one year old son.
Since I was the new hot shot law review associate, I was given an assignment. Unlimited budget to research any procedural rules in North Carolina, Louisiana and their respective conflict of laws statutes to attempt to find a "technicality" that would allow us to seek dismissal of the claim. It did not matter that our client was at fault, grossly at fault, for this man's death or that his son was going to grow up without his biological father. What mattered was the insurance company's bottom line. So, I did the research, billed about 100 hours, and turned in a memo that did not have much in it. And then I turned in my resignation and started representing people and not companies.
What you have to understand, is that all companies are essentially motivated by money. If they can save money, by cutting a corner, they will do it-despite the potential risk of life or injury to another person. Afterward, they will spend more money to fight the case, that was caused by their negligence then it would often cost to compensate the victim.
Are there bullcrap cases? Sure there are. I try not to take them. But I sleep very well at night knowing that as a general rule, I am trying to help people.
I started by career as an insurance defense attorney. My senior partner was assigned a case involving a death. Accident happened in North Carolina, but the suit was filed in Louisiana because the company that caused the death was headquartered here. A 20 year old kid was working on a construction site, driver of a paver that worked for another company backed up over him (yes, it was very much like the recent scene in Narcos-Mexico) and he was turned to paste. The biggest issue was that the workers for the other company had disengaged the back up beeper on the paver, so he did not hear it backing up on him. He had a 19 year old wife and a one year old son.
Since I was the new hot shot law review associate, I was given an assignment. Unlimited budget to research any procedural rules in North Carolina, Louisiana and their respective conflict of laws statutes to attempt to find a "technicality" that would allow us to seek dismissal of the claim. It did not matter that our client was at fault, grossly at fault, for this man's death or that his son was going to grow up without his biological father. What mattered was the insurance company's bottom line. So, I did the research, billed about 100 hours, and turned in a memo that did not have much in it. And then I turned in my resignation and started representing people and not companies.
What you have to understand, is that all companies are essentially motivated by money. If they can save money, by cutting a corner, they will do it-despite the potential risk of life or injury to another person. Afterward, they will spend more money to fight the case, that was caused by their negligence then it would often cost to compensate the victim.
Are there bullcrap cases? Sure there are. I try not to take them. But I sleep very well at night knowing that as a general rule, I am trying to help people.
Posted on 2/19/20 at 11:14 am to Number 9 Fan
quote:
I wonder if Gorgon, Morris or DD cut their fees?
Shhhhhh he's on a roll.
Posted on 2/19/20 at 1:27 pm to Verbal Kent
In this case seems like they were trying to determine whether the other lawyer chose the correct venue and filed the case in the correct court.
That’s not “cutting a corner” that is holding the lawyer to their professional responsibility. If the plaintiff lawyer filed in the correct venue then no problem. If they didn’t well that was a procedural misstep and would then be passed to their E&O/ malpractice insurer. Just another insurer.
As a lawyer, you know that procedural law is as important as substantive law and facts.
That’s not “cutting a corner” that is holding the lawyer to their professional responsibility. If the plaintiff lawyer filed in the correct venue then no problem. If they didn’t well that was a procedural misstep and would then be passed to their E&O/ malpractice insurer. Just another insurer.
As a lawyer, you know that procedural law is as important as substantive law and facts.
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