986 Forum - The Community for Porsche Boxster & Cayman Owners - View Single Post - Fighting Insurance

thom4782 · 01-07-2017, 08:19 PM

Selecting a good insurance company is hard.

Think about it from the insurance company's point of view. Their goal is to increase profits, think premiums paid - claims paid - fixed costs. Thus, if customers pay low premiums, then insurance companies tend to get stingy about paying claims. i.e., they low ball claim settlements.

Insurance companies may not be able to tell you where to get your car repaired, but they are in the driver's seat when deciding how to pay out.

As someone said, working through an independent insurance agency id s good idea. If anyone is going to be in your corner, it's likely them

BTW: if you're unhappy with what the insurance company offers, don't settle and don't accept a partial payment without reading the fine print. Once you do, you give up a lot of rights to contest things. An insurance company sent me a check a few years ago for 90% of what I wanted. If I cashed the check, the fine print said the claim was settled in full. Only when I sent the un-endorsed $15K check back did the company agree to pay in full.

01-07-2017, 08:19 PM	#13
thom4782 Registered User Join Date: Sep 2010 Location: Foster City CA Posts: 1,099	Selecting a good insurance company is hard. Think about it from the insurance company's point of view. Their goal is to increase profits, think premiums paid - claims paid - fixed costs. Thus, if customers pay low premiums, then insurance companies tend to get stingy about paying claims. i.e., they low ball claim settlements. Insurance companies may not be able to tell you where to get your car repaired, but they are in the driver's seat when deciding how to pay out. As someone said, working through an independent insurance agency id s good idea. If anyone is going to be in your corner, it's likely them BTW: if you're unhappy with what the insurance company offers, don't settle and don't accept a partial payment without reading the fine print. Once you do, you give up a lot of rights to contest things. An insurance company sent me a check a few years ago for 90% of what I wanted. If I cashed the check, the fine print said the claim was settled in full. Only when I sent the un-endorsed $15K check back did the company agree to pay in full. Last edited by thom4782; 01-07-2017 at 08:28 PM.