"Policy Ensurance" 
Posted by tonyb on July 08, 2001 at 04:45:13:
My father was in an accident and at fault over 2 months ago. He has insurance
with allstate. After 2 months they have just finally offered a settlement
of 10,000.00 on a 96 dodge diesel pickup. It is totaled and the only vehicles
I can find like it are around 14,000.00. He owes the bank $13,800.00 on the
truck. We want it paid off. I sent them prices on trucks I found in arizona
to texas and they will not except them. What are my rights and how does okla.
law read. I know in Montana they have to pay the amount of the loan. Please
advise.
--
Hello, claim filing information is available at
Deserve
You may have the option of Appraisal (a simple
form of arbitration for amount of loss claims). However, many property "Standard
Policies" have recently struck-down the Appraisal process and now require
court. With your permission, I would like to post this email on the
Forum (board/index.html) for all
to see what real affect the policy language changes have on leaving the
consumer vulnerable. I hope you find the information of some help.
The NAIC rules governing total loss Actual Cash Value of vehicles:
NAIC Unfair Property/Casualty Claims Settlement Practices Model Regulation
Section 8. Standards for Prompt, Fair and Equitable Settlements Applicable to Automobile Insurance
See rules.
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