|Update on Stolen Bike/Insurance Questions||Lizard|
Jun 22, 2001 8:47 AM
|I posted a week ago, lamenting the fact that my husband's bike had been stolen. Thanks, by the way, for all of the advice as to how we could "attempt" getting it back.
Finally! We received a call back from our Homeowner's Insurance adjuster. What a joke... Just got an email from my husband indicating the whole replacement process will take quite a long time. First, he has to get the police report number and send it to the insurance co. They claim it will then take them 35 -40 days to get the police report and process. Replacement cost entails buying the bike and then getting the receipt and all claim forms notarized before sending everything to the adjuster. When they get the report, they'll reimburse us for the cost minus 25 percent depreciation and minus the 500 deductible. The 25 percent depreciation can be sent to to us only after the purchase is verified and the police report received.
My husband's outlook? "Looks like the serious riding is over for this year. What a great insurance company." He rides (or should I say, "rode.") at 5:30am most mornings and loses the sunlight once we're into the fall and winter seasons.
My question(s)... Does anyone have any suggestions as to how to we can expediate the process or lose the least amount of money, time, aggravation? Is this par for the course as far as insurance companies are concerned?
Jun 22, 2001 11:28 AM
|I don't doubt that it will take them a month, that seems sort of typical. But do cover your a** by either submitting your paperwork via Fedex or registered mail - don't give them an excuse to say 'we never got it'. And always make a copy to keep for your records. But, you can definitely bug them with weekly phone calls - "how's my claim going?" Squeaky wheel get the you-know-what!
You can also 'vote' with your feet, and get coverage with another insurance company that is more efficient. Ask them specifically about their homeowner policy and the process you have to go thru for a claim. Unfortunately, these are the sort of things you don't find out about the company until it's an 'emergency'. But that's when you need them, so if they make life difficult, drop them. Let them know that they let you down.