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inside man
45 Posts |
 Posted - 01/21/2003 : 10:45:34
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My laptop took a dive off of my desk last week and I filed a claim with my inland marine carrier. The laptop is scheduled for $1600
My adjuster has inspected the laptop which has a cracked screen and advised me that it is not repairable. He then calls me the next day and offers me $750.00 He arrived at this figure by calling a computer store which is offering a laptop with the same brand name as mine but with a Celeron processor rather than a Pentium processor(my laptop has a P2). He advises me this is a better computer (I agree)and the settlement figure is based upon $350.00 manufacturers rebate. The actual cost to go in the store and buy the computer is $1100.00 and then I send in for my rebate via the mail and wait for it.
First off, should I accept a Celeron processor to replace my P2? I understand that the current Celeron would outperform my old P2 so I can agree to this.
The big problem is that I don't feel that factoring in a rebate into my settlement is a fair way to settle my loss. What if I live paycheck to paycheck and can not come out of pocket for $350 and then wait for my rebate?
What do you all think of this settlement offer ? |
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CCarr
Canada
1200 Posts |
Posted - 01/21/2003 : 10:58:51
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Hey "Inside", I would reluctantly suggest this interesting scenario be moved to the "Coverage forum", but last time I did that we lost it.
However, everytime I see something like this I get so damned angry. The settlement offer of $750 is crap, and a true measure of the carrier that is offering it.
The proper value of the loss is $1100.
I don't care if you are flush with cash or poverty stricken, it is none of my business and no damned concern of the adjuster or carrier.
Their offer of $750 is not the true measure of the loss.
I would get on the phone and get that sorted out real quick. If the carrier does not have a preferred vendor they can arrange these rebates through that again is not your problem.
It is so unfortunate you have to be party to that type of adjusted garbage, but get on the phone and do what is necessary to get the $1100 or alternatively the carrier arrange that $750 will buy you that particular item without you having to finance their settlement.
No damned wonder adjusters are perceived by the public as idiots, cutthroats and worse. |
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JimF
USA
1014 Posts |
Posted - 01/21/2003 : 11:02:04
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Some carriers have 'replacement services' from which they buy computers, jewelry, etc. at a discount (based on volumn), and perhaps if you explain your paycheck to paycheck situation to the adjuster/carrier, they will simply replace your laptop without you having to come out of pocket for the rebate amount until it is received.
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Edited by - JimF on 01/21/2003 11:04:15 |
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Justin
USA
137 Posts |
Posted - 01/21/2003 : 12:26:48
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Inside Man, the first thing I would do with my new laptop is to access the internet and look for a new inland marine carrier. Ask this one if they will buy the laptop and wait for the rebate.
Clayton was right, this offer sucks.
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Edited by - Justin on 01/21/2003 12:27:31 |
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william s cook
53 Posts |
Posted - 01/21/2003 : 13:53:57
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Is the operating system on the new computer compatible with the operating system and programs being used on the old computer? Does the replacement value consider any time or expense for going to the store to shop for and pick up and bring the new computer home? What if it takes two trips to make system operational? Who gets the salvage (personal information stored within the system)? What was the actual cost of repairs to the screen (repairs may be a better option than the replacement)?
William S Cook
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inside man
45 Posts |
Posted - 01/21/2003 : 15:09:25
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Being that this is a 3-4 year old laptop I don't want to invest $800.00 + for repairs. I took the unit to the store where I bought it and they want $160.00 just for a diagnostic fee. The service tech did tell me though that although he could fix the machine that it just would not be a good idea considering the cost of a new machine is so low.
The adjuster has since called me back and we now are at $975.00 or he will go to the store and buy the laptop and get the rebate himself and I get the new machine. I think I will opt for $975.00 as this seems to be a reasonable settlement with all things considered.
Note to Mr. Cook: Boy I would love to bring a PA in on this claim just to blow their mind!!!
Thanks to everyone for your replies!!! |
Edited by - inside man on 01/21/2003 15:10:44 |
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CCarr
Canada
1200 Posts |
Posted - 01/21/2003 : 16:35:04
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Well 'inside', it seems to be coming to a more logical conclusion.
Now can you share with us a few things - no names or companies necessary.
In hindsight, why do you think the adjuster offered $750, and you buy for $1100 and finance the carrier until you got the $350 back?
Did he/she think it was the right thing? Did you get the feeling they were just using you - intentionally or unintentionally?
You say the adjuster called you back, was it a return call or on his own?
In that return call, how did the increased amount come up? Did you have to grovel for it?
At what point did the offer of the adjuster going to the store and buying it come up? Was that his well intentioned way of dealing with the issue of the rebate?
In your reflection on the conversations, would you think that the adjuster thinks, that you are a 'tough / demanding' insured?
In your opinion, were you talking to a new, junior, intermediate, or senior type adjuster; and what would you base that opinion on?
Do you think from the conversations you had with the adjuster, that at any point the adjuster sought guidance from his/her supervisor?
It is the nature of these 'communications' - adjuster to/from insured - that much can be learned by the new and junior adjusters here on CADO by considering the postmortem of the issues encountered. |
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olderthendirt
USA
370 Posts |
Posted - 01/21/2003 : 16:39:24
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| One question that has been missed why would anyone accept a celron chip? |
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inside man
45 Posts |
Posted - 01/21/2003 : 17:44:41
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Mark-
I did some research on the Celeron chip and by all accounts it appears the latest Intel Celeron chip is worthy of a Pentium although the performance is intentionally dialed down so as not to make those who paid extra for a Pentium chip feel they were cheated out of something. I have never run a Celeron chip so I don't know for sure. Maybe someone can share something about their experiance here.
Clayton-
The call back came from the adjuster after our earlier conversation this morning. It went something like this:
"I have done some further research regarding your claim. I called Best Buy and they have a similar computer by Hewlett Packard that sells for $1079.00 and I as I stated before CompUSA has the Toshiba for $749.00 so I will split the difference with you and offer you $950.00 Or I will go to CompUSA and buy the laptop myself and I will get the rebate and you get the computer"
I said "Well if you buy the computer won't it be in the insurance company's name then?"
"No" says the adjuster.
I said "I will settle for $1000.00 then as a compromise"
He said "What are you trying to do here? The computer I am offering you is better than what you had before. I don't understand what you are trying to do?"
I said "I am just trying to settle my claim and I don't feel that it is fair for me to have to wait for several months to get a rebate check from Toshiba. I will settled for $1000.00"
With what sounded like a great deal of frustration the adjuster said " I will give you $975.00"
And with that I agreed to settle the claim.
Do I feel as though I was treated fairly? No. I feel like I compromised on the settlement by settling for a Celeron processor and then I had to further compromise on the settlement dollars by accepting $975.00 I still feel as though I am entitled to $1100.00 and in so writing this post I have decided I will follow up with a letter to the adjuster's superviser and let him know that I am truly not satisfied with the settelment.
I have reviewed the language in a standard ISO policy and it does contain the following languange:
OTHER PROPERTY - THE VALUE OF THE PROPERTY INSURED IS NOT AGREED UPON BUT WILL BE ASCERTAINED AT THE TIME OF LOSS OR DAMAGE. WE WILL NOT PAY MORE THAN THE LEAST OF THE FOLLOWING AMOUNTS:
(1) THE ACTUAL CASH VALUE OF THE PROPERTY AT THE TIME OF THE LOSS OR DAMAGE.
(2) THE AMOUNT FOR WHICH THE PROPERTY COULD REASONABLY BE EXPECTED TO BE REPAIRED TO ITS CONDITION IMMEDIATELY PRIOR TO LOSS;
(3) THE AMOUNT FOR WHICH THE ARTICLE COULD REASONABLY BE EXPECTED TO BE REPLACED WITH ONE SUBSTANTIALLY IDENTICAL TO THE ARTICLE LOST OR DAMAGED; OR
(4) THE AMOUNT OF INSURANCE
After seeing that the company could conceivably settle my claim for ACV I decided to take the offer without pushing the issue any further. I was somewhat surprised to find the ACV clause in the inland marine policy and always had assumed it was an RC form only.
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CCarr
Canada
1200 Posts |
Posted - 01/21/2003 : 18:47:33
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Wow, I wonder how many per 1000 claimants are treated this way by any adjuster?
How many of that 'how many', think that is just the way it is today; in this supposedly service oriented society?
That leaves 'how many' who would not be impressed, and in fact find objectionable; this type of insurance claims adjustment?
Your laptop for all intent and purpose is a total loss based on the figures you suggest for repair; which at best was not a firm estimate or agreed price for repair.
You have learned a valuable and inexpensive lesson regarding the wording of a standard I/M schedule policy, versus the more expensive valued type scheduled policy.
However take from that experience the knowledge of how to give a 'value' for your scheduled items to your agent / underwriter. The rates for the scheduled policy are based on a dollar figure per $100 of stated value, i.e. for example may be $3.00 per $100., or $48.00 for that $1600 scheduled laptop.
Often contractors with large schedules on the same type of wording, diligently try to state the RC of their used equipment on schedules, based on the false hope of recovering that amount; and are quite shocked and angry to realize later that the settlement is the typical "least of the following".
Often a lot of premium dollars can be saved while maintaining the same coverage, by stating realistic values. Schedules should be reviewed at least annually to determine adequate values in concert with a "least of the following" wording.
I certainly support you in writing a professional critique of your experience and sending it to the Claims Manager to which the subject adjuster reports, as well as a copy to your agent of record. |
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Craft
USA
6 Posts |
Posted - 01/22/2003 : 08:33:51
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| Inside Man. I would not be too concerned about the celeron processer. I just bought a new laptop with a celeron xp 1700+ processor. With my experience it is faster than my old p3 but slower than my p4 on my pc. My brother is a programer and I discussed this with him at length and he informed me that a celeron xp 1700+ or higher is comparable but a little slower than a p4. So don't be afraid of the celeron. You should notice a vast inprovement over your old p2. |
Roger Craft |
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KileAnderson
USA
875 Posts |
Posted - 01/22/2003 : 10:34:26
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| Inside Man, like Roger I also recently bought a Dell laptop with a celeron processor running at 1.2 gigs. It is a fine computer and I have not had any problems with it. It is worlds faster than the old pentium 2/800 that it replaced. I have to say that any new celeron processor today would be better than a P2. |
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ChuckDeaton
USA
373 Posts |
Posted - 01/24/2003 : 20:45:32
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| Send me your name and address and I will send you a money order for $350.00. |
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CCarr
Canada
1200 Posts |
Posted - 01/24/2003 : 20:51:43
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| Is there a quizz, or do we just submit names and addresses, and you pick who gets the $350 MO? |
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ChuckDeaton
USA
373 Posts |
Posted - 01/24/2003 : 22:43:37
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| I expect that there will be some sort of verification, but it would not be the first time that my friends and I have helped fellow adjusters. I quoted Dr. Phil before on this forum, but here it is again, "Life is a contact sport." If "InsideMan" is legit it won't be hard to prove it and if he is a cat adjuster he will do the honorable thing and return my money the first chance he gets. As long as I am on the subject perhaps someone might make a suggestion as to how my friend Tom Joyce might be helped. Ghost can you help? Linda are you there? Cheryl? |
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inside man
45 Posts |
Posted - 01/28/2003 : 11:07:08
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Chuck,
I am at a loss here to figure out what you are talking about??? |
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My Laptop Claim
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