Auto Insurance Question: Please help!!!!!?

Your insurance will not give you any more money for it. Thats what your policy states. However, if you feel your insurance agent mislead you, you should go back to them to complain. It sounds like you feel its the agents fault so the agent would then be the person who owes you the difference. You agent should have their own insurance coverage to cover them for any mistakes they may have made (to cover them if someone sues them). You should attempt to make a claim through their insurance. That being said, keep in mind they may still deny your claim at that point you may want to sue them for it. However when you make your claim or sue them you will have the burden to prove they mislead you or made the mistake. It might be difficult to do considering your parents wrote a letter stating the value of it. You may try to argue that it said it was the value 8 years ago and that your agent should have known (seeing as how they often decide what coverage should be and any possible complications you may have) that it would have gone up or possibly down and should have told you to get an appraisal since it was 8 years old when it was worth that much. Although they may argue that you or your parents should have known as well. It will be tough so good luck.

The insurance company can only pay based on what is stipulated in the auto insurance policy contract. It is the agent's job to provide you with the proper policy for your needs. If the statement from your parents clearly said that the $6,000 value was 8 years old, the agent should have asked you for a more recent value and if that meant getting an appraisal, so be it. You probably would have still been offered a stated amount policy, but the value would have been more accurate. If it was not clear that $6,000 was an old value, then the agent and the insurance company probably thought it was a current value and therefore used that as the stated amount for the insurance. With rare/old items you always have to review the insurance periodically to make sure the values are up to date. Many agents don't contact their clients to do this because most clients won't respond to the agent's inquiry, fearing it will just increase their premium. You can try suing your agent for the difference but legal fees might be so much that it won't be worth it.

I would recommend one to try this web page where you can compare rates from the best companies: http://coverage-finder.net/index.html?src=2YAgubll...

RE :Auto Insurance Question: Please help!!!!!?

I asked this yesterday too, but did not get any responses; so if you have any information at all, or this has happened to you, please list an answer!

I just recently lost my beautiful 1977 Monte Carlo to a fire! It was all original, and the adjuster found it to be worth between $12,000 and $13,000. Due to my ignorance of insurance, we were put into a stated value insurance policy worth $6,000, and now, I am only getting $6,000 for my car.

I feel ripped off. I am young, and don't know anything about insurance, but trusted my agent. The car has been in my family and was gifted to me from my dad a little less than one year ago. My agent asked for photos, and a letter from my parents with what they thought the worth of the car was, signed saying it was a gift. So, that's what we gave him. They stated in the letter they paid $6000 for it 8 years ago. We were never told to get the car appraised, or that we had to keep up on checking to see if the value had gone up so we could change our policy.

Do any of you have any advice on how I can get the insurance company to give me all the money? Is there anything I can do at all?

Thank You so much!

Follow 6 answers

For auto insurance the best way to get a great quote is do a rate comparison on auto policies. Make sure that you pick similar options with the same limits, auto type, zip code, etc so that all options are a good comparison.

What I usually recommend is an online comparison quote at http://www.insureautonow.info/ since they have top name insurers and will give many prices on auto insurance polices.

Compare quotes from the best companies at - INSUREGRADE.INFO-

RE Auto Insurance Question: Please help!!!!!?

I asked this yesterday too, but did not get any responses; so if you have any information at all, or this has happened to you, please list an answer! I just recently lost my ...mostrar más

I dont mean to be harsh- but there is absolutely no way your insurance company is going to pay for your mistake. This isnt their mistake- it was yours. You have been paying lower premiums due to saying the vehicle was only worth 6k.

Try to find good rate comparison at State Farm. That's my suggest to you.