Insurance company doesnt want to install oem lexus parts
05-12-11, 05:47 AM
#32
If i had a dollar every time I heard something like this I'd be retired. First of all I'll give my exact quote "If you get paid $5.00 of $50,000 dollars I get paid the same" My job is not and has never been to save the insurance company money. Second the adjuster does not write the estimate, the appraiser does. Its then reviewed by the material damage supervisor then its given to the adjuster. Truth be told most adjusters know very little about vehicles let alone how to repair the thousands of different model vehicles that land on an auto adjusters desk in a single year. It is and always will be the job of an adjuster to handle the claim according the the legal contract you signed, ie: the policy.
I'm actually both and adjuster and an appraiser and I have my own independant adjusting company. When I walk into a shop and the the shop guy hands me a sheet. I look at a particular line item and just for fun I sometimes give the shop guy that WTF look and the shop guy always says "I know I know but the owner wanted me to put that in the estimate" Thats part of the shops job, to put everything you tell them to on an estimate. Plasma tv, turbo, flux capacitor whatever your little heart desires. But when I get back to my office and start to typing, all that crap gets clipped if its not allowed by the policy.
Calvin2376 showed a very good understanding of the claims porcedures and policy language and more importantly he read his policy.
If you guys ever have a question, feel free to ask, my advice is always free.
I'm actually both and adjuster and an appraiser and I have my own independant adjusting company. When I walk into a shop and the the shop guy hands me a sheet. I look at a particular line item and just for fun I sometimes give the shop guy that WTF look and the shop guy always says "I know I know but the owner wanted me to put that in the estimate" Thats part of the shops job, to put everything you tell them to on an estimate. Plasma tv, turbo, flux capacitor whatever your little heart desires. But when I get back to my office and start to typing, all that crap gets clipped if its not allowed by the policy.
Calvin2376 showed a very good understanding of the claims porcedures and policy language and more importantly he read his policy.
If you guys ever have a question, feel free to ask, my advice is always free.
05-12-11, 09:54 AM
#33
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Last edited by Salduchi; 05-12-11 at 09:57 AM.
05-12-11, 11:03 AM
#34
Only if you get an "endorsement". Good you brought this up. For people who have aftermarket rims, AM suspension, AM stereos, AM body kits, tv's etc. etc. Those items will not be covered by insurance unless you take out additional coverage in the form of an endorsement. A policy is designed to cover a stock/factory vehicle, not a pimped out one.
So in your experience/knowledge, do insurance companies do this? Like say I had an aftermarket turbocharger and suspension, the total value of which was $2000 and I wanted them to insure that, so I called them to tell them about it. Would they increase my rates just enough to cover that $2000, or would they raise them even more to both cover the parts AND adjust for the higher perceived risk I present? Of course I'd never be able to know what part of the increase was what, so I'm curious to hear your opinion as someone who's worked in insurance.
05-12-11, 11:29 AM
#35
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I have USAA, a great insurance company that i have had for over 20 years. However they also require third party parts to be used--it is not just no name brands, but i will ask about any add on to my policy to get lexus OEM parts.
You should also look at your home owner's policy to see about additional parts that may or may not be covered while in your car.
You should also look at your home owner's policy to see about additional parts that may or may not be covered while in your car.
05-12-11, 11:55 AM
#38
Lexus Connoisseur
Did you try checking with your state's insurance board? Perhaps there may be something similiar and the insurance company is trying to bully you.
05-12-11, 03:18 PM
#39
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So in your experience/knowledge, do insurance companies do this? Like say I had an aftermarket turbocharger and suspension, the total value of which was $2000 and I wanted them to insure that, so I called them to tell them about it. Would they increase my rates just enough to cover that $2000, or would they raise them even more to both cover the parts AND adjust for the higher perceived risk I present? Of course I'd never be able to know what part of the increase was what, so I'm curious to hear your opinion as someone who's worked in insurance.
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