December 04, 2014
Insurance Company: Assurant
Coverage Type: Auto/Boat/Motorcycle
- PolicyHolder Service - Delays/No Response
- PolicyHolder Service - Inadequate Reimbursement
- Claim Handling - Delays upon Delays
- Claim Handling - Unsatisfactory Settlement/Offer
- Claim Handling - Fraud
- Marketing & Sales - High Pressure Tactics
- General - I feel abused by this company
I purchased "Agreed Value" insurance for my 1979 450 SL. The Agreed Value is $32,300.00. I was involved in an accident on October 19th, 2014. I submitted my claim. It was a hit and run accident and my car was totaled. My vehicle was taken to a very reputable auto body repair shop that has been in business for 50 years. The Insurance adjuster works for Assurant specialty Company and they handle the claims for American Collectors Insurance Company. They have exceeded the legal time limit to settle my claim, have tried to pay me off with a check for $7000.00 due to so called depreciation etc. which does not apply to an "Agreed Value" policy. They have requested the repair shop to do a complete breakdown but refuse to authorize payment for this and the storage charges. it is now going on 50 days since the claim was submitted and they continue to use stalling tactics, give excuses for paying less then the "agreed value" which would not apply to my policy definitions and they do not answer or return phone calls for days. I have informed them that I plan on notifying the Dept. of Insurance in all three states that they seem to be doing business from and I feel if they cannot pay the "Agreed Value" then they must be insolvent and should be investigated and cease and desist doing business until they are investigated and held financially responsible for the policies they sell. Their license should be suspended until further investigation determines if they are insolvent and unable to honor their claims.
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