I had a car accident and the property damage to a shop was 40k, and my insurance representative said my policy only covered 10k. Can I asked the shop owner to use their own insurance? What would they do if I refused to pay out of pocket? I just want to pay 10k extra after insurance cover. update: I contacted a company, they said they could fix it with 9k, but the owner refused to use my contractor. Tc 190k
Yeah you deserve the huge bill ya peanut fk
Insurance is the biggest scam perpetrated by the private sector and enforced by govt.
Tell us more how did you destroy the property
They will sue you.
You just lost $30k for buying cheap insurance.
They will garnish your wages if you do not pay up. Do not wanna go that far. However I think your insurance company will have an option to pay in full given you pay a fine. I would pay the entire amount if I were you. The insurance company will increase your premiums like anything.
Why would my insurance company may pay in full?Can you elaborate more about this?
You might plead them to do so. They might do it at a price though. Best for you is to settle this outside court with a payment plan
Why would they use their insurance, to raise their premium?
To answer second part of your question. If you refuse to pay the shop, shop can easily file a claim with their insurance company. Shopâs insurance company will send a bill of $40k to your insurance company. Your insurance company will pay $10k then theyâre out of picture. Your insurance company wonât care about you anymore. Shopâs insurance company will bill you the remaining $30k. If you refuse to pay, they will sue you and go after your assets. This is called Subrogation. Youâre Fâed for being cheap. You are responsible for the remaining $30k.
Why is it when I get hit, my insurance takes ages to get me my money. But this poor guy is aboutta get pipped in real life, like other dudes insurance is Lightning McQueen.
Lmao. Legal process could take a year or two. But they will come after OP, especially if they know OP works at Microsoft.
I donât think this is that unreasonable of question when itâs two cars. In that case your own insurance will cover you for any amount the other one doesnât, but you might need uninsured motorist coverage for that. In this case the shops insurance is going to probably pay for it but they will come after you. In most cases people canât actually afford to pay so they donât bother too much. But they will see you work at Microsoft and will likely make you pay. This is why you donât cheap out in your property damage coverage. Mine is 100k and I feel like even that is low. But I also have an umbrella policy as well that covers me for an additional $1m
You should increase your coverage due to inflation, LinkedIn. I carry 500/500/250 coverage with a $3M umbrella. The umbrella only costs $350.
Who are you getting your umbrella through?
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Youâre liable for the full cost of damages, itâs not the shops problem that you cheaped out on properly damage / liability insurance. $10k is probably at or below the minimum required by a state. You chose a policy that was $9/month cheaper and now you will pay a fat $30k bill. Life lesson.
The problem is How should I pay less if they refuse to negotiate?
lol what do you mean âhow should I pay less?â Their insurance company will come after you with lawyers for the amount you owe. Try to negotiate a payment plan maybe?