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Yup, classic State Farm. To be fair, it only costs about $50 to file an arbitration case and there's always a chance they get an arbitrator that views the claim in your favor. If this happened in a large intersection with multiple lanes if traffic it certainly helps your case too, imo.
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Mar 6, 2020 21:47
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So out of curiosity, how do we get to this point? Have the two companies been talking and just unable to reach an agreement, or is this an automatic, "gently caress you, you rejected our subrogation package so arbitration it is!" Because even with a cheap $50 filing fee, it seems to me that spending time to prepare a case and then argue it in arbitration is way more expensive than just coming to an agreement (though I appreciate the lengths they are going to instead of just giving up and telling me to go gently caress myself). Or is this the other company being a douche and rolling the dice since they have more to lose (damage to other vehicle was relatively minor)? And given the "facts" where he hit me at low speed, and assuming only the light status is in contention, what are my odds of "winning" arbitration? DaveSauce fucked around with this message at 22:14 on Mar 6, 2020 |
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Mar 6, 2020 22:12
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Do you know anything about Life Insurance ? Specifically Mortgage life insurance?
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Mar 6, 2020 22:33
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riseofmydick posted:Do you know anything about Life Insurance ? Specifically Mortgage life insurance? Term life is what you want. Every day you pay for mortgage life insurance the payout value decreases assuming it literally just pays off the mortgage note.
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Mar 6, 2020 22:35
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DaveSauce posted:So out of curiosity, how do we get to this point? Have the two companies been talking and just unable to reach an agreement, or is this an automatic, "gently caress you, you rejected our subrogation package so arbitration it is!" Full disclosure: I work for one of State Farm's larger competitors, so I can't say for certain what their process is. I also rarely handle claims with Contributory negligence laws, since the only state in our region that has it is Alabama. That said, odds are the other company issued a flat out denial of liability and sided with their insured. It may be because they assessed comparative negligence on you; it they may just say there's no conclusive proof their driver was at fault. Ultimately, it's their job to do what's in the best interest of their insured. If the denial was for comp neg, there probably was some negotiation involved. State Farm probably wouldn't waste time trying to negotiate if the latter was the case. I've only seen one of my claims go from flat denial to full acceptance a handful of times, and it's usually because I got video evidence of the accident after the other company finalized their liability. State Farm's subro team would evaluate the claim, determine if it makes financial sense to pursue arbitration, and file if it does. Or maybe they just file on everything. Like I said, they're one of the more litigious companies out there. As for your odds, I really can't say. A lot of it depends on how good the investigation each party did was, how good the arbitration specials for the companies did to argue their case, and sometimes even the arbitrator's mood that day. Infidel Castro fucked around with this message at 22:48 on Mar 6, 2020 |
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Mar 6, 2020 22:41
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H110Hawk posted:Term life is what you want. Every day you pay for mortgage life insurance the payout value decreases assuming it literally just pays off the mortgage note. Yeah but I read it may cover my mortgage in case I lose my job. I'm kind of worried I'm going to since I work in events and Coronavirus has everyone spooked.
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Mar 6, 2020 22:45
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The entire insurance industry could very well have to fold during this, in which case it's a waste of time.
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Mar 6, 2020 22:50
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Dumb Lowtax posted:The entire insurance industry could very well have to fold during this, in which case it's a waste of time. Very reassuring.
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Mar 6, 2020 23:00
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DaveSauce posted:So out of curiosity, how do we get to this point? Have the two companies been talking and just unable to reach an agreement, or is this an automatic, "gently caress you, you rejected our subrogation package so arbitration it is!" It’s likely your adjuster talked to their adjuster once, and since it’s contrib, the conversation was something along the lines of your adjuster asking them to take 100%, them saying no, then the call ending. Your adjuster kicks it over to a subro rep who owns the next steps which are either filing arb or just closing it and telling you that you’re SOL on your deductible. The whole “case” thing isn’t that much work. All the major players use the same system for subrogation so they basically just attach the statements, pictures, etc. for the arbitrator to view. The points of impact are favorable to you so it’s worth the shot to file arb. Since it’s contrib your company is already not getting anything and the arbitrator can’t possibly make a decision that is worse for your company. Arbitration is usually reasonably quick so you might hear back by end of month.
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Mar 7, 2020 00:07
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Infidel Castro posted:Full disclosure: I work for one of State Farm's larger competitors, so I can't say for certain what their process is. I also rarely handle claims with Contributory negligence laws, since the only state in our region that has it is Alabama. I’m also convinced that arb decisions are based on tea leaves
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Mar 7, 2020 00:14
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big crush on Chad OMG posted:I’m also convinced that arb decisions are based on tea leaves And those tea leaves can sometimes read based on how much they've had to rule against their paying clients (aka the people in the room.) If Party A has been ruled against too much lately they might not use you as an arbitrator in the future, so an ambiguous case gets tossed to them to help balance the scales. There's a reason there is a huge problem with individuals waiving their right to suit. Corporations (Insurance A and Insurance B fighting) I don't care at all about, but the scales are in no way balanced for the individual walking into that room.
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Mar 7, 2020 01:10
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H110Hawk posted:And those tea leaves can sometimes read based on how much they've had to rule against their paying clients (aka the people in the room.) If Party A has been ruled against too much lately they might not use you as an arbitrator in the future, so an ambiguous case gets tossed to them to help balance the scales. There's a reason there is a huge problem with individuals waiving their right to suit. Corporations (Insurance A and Insurance B fighting) I don't care at all about, but the scales are in no way balanced for the individual walking into that room. Auto arbs don’t work like this, you (a claims employee) literally get a bunch of claims from other carriers and you review them
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Mar 7, 2020 02:58
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big crush on Chad OMG posted:Auto arbs don’t work like this, you (a claims employee) literally get a bunch of claims from other carriers and you review them Ah fair enough.
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Mar 7, 2020 03:08
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awesome, thanks for the replies even if it doesn't really help determining the future. It's always interesting to learn the process (or lack thereof) that goes on behind the scenes. Separate topic, what should I look for in umbrella insurance? I've read that this is a pretty useful product, in that it's pretty cheap to get and if you need it then it's worth every penny. Are there different kinds of umbrella insurance where I need to customize something specifically for me? Or is it pretty generic for 95% of people?
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Mar 8, 2020 02:03
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Not an ask but I figure this is a good thread for it - I'm curious to see policy changes / endorsement options that come out of this Coronavirus. Especially related to business income. (And not just ISO's quick response, in the moment endorsements.)
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Mar 13, 2020 17:11
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I doubt anyone has a coronavirus endorsement ready to go since it would need departmental approval.
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Mar 13, 2020 17:49
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So this may not apply to many people here, but some states have issued mandates stating that auto insurance companies can't deny for using personal autos for food delivery service while the coronovirus poo poo is going on if there isn't other available coverage. The ones I know are: Colorado: https://drive.google.com/file/d/1KGtDaXjViNN2DwT2gnydbHQObXs7XoZM/view Wisconsin: https://oci.wi.gov/Pages/PressReleases/20200323RestaurantsCOVID-19.aspx
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Mar 30, 2020 22:18
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Infidel Castro posted:So this may not apply to many people here, but some states have issued mandates stating that auto insurance companies can't deny for using personal autos for food delivery service while the coronovirus poo poo is going on if there isn't other available coverage. CT is going to be joining this imminently https://www.insurancejournal.com/news/east/2020/03/30/562736.htm WI is unique in that personal auto and/or the employer's commercial GL can be tapped to add HNOA.
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Mar 30, 2020 23:35
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Technically speaking it should be the employer's auto or GL (if no auto policy) that responds in the case of restaurants having employees do delivery.
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Mar 30, 2020 23:45
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Dango Bango posted:Technically speaking it should be the employer's auto or GL (if no auto policy) that responds in the case of restaurants having employees do delivery. bro that is not disruptive at all this is a gig economy my man
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Mar 31, 2020 02:19
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KYOON GRIFFEY JR posted:bro that is not disruptive at all this is a gig economy my man I was going to mention gig economy, but I didn't want to open that 
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Mar 31, 2020 02:48
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The TNC companies are insane, it’s the Wild West out there
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Mar 31, 2020 12:59
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Dango Bango posted:Technically speaking it should be the employer's auto or GL (if no auto policy) that responds in the case of restaurants having employees do delivery. If it's a liability issue yes the restaurants insurance should cover damage and injuries caused by one of their drivers but damage to the drivers own vehicle is not normally covered by the restaurants coverage, that's what I think they're trying to remedy.
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Apr 1, 2020 16:54
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Where would I go to get insurance for my furniture during a move, that will cover specified items based on their value (not weight)? Assume movers don’t have this option and it’s not covered in normal homeowners / renters policies as an addon.
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Apr 10, 2020 21:52
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PRADA SLUT posted:Where would I go to get insurance for my furniture during a move, that will cover specified items based on their value (not weight)? It wouldn't generally be part of your normal homeowners/renters but frequently it can be added (or purchased from another carrier if not) - you're looking for a personal inland marine (or scheduled personal property depending on how your carrier does things) endorsement or possibly even a personal articles floater if you've got a lot of high-value materials that are typically limited on the policy (eg furs, jewelry, firearms).
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Apr 13, 2020 22:34
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I have an old HSA from several jobs ago with a few hundred dollars in it. Is there any way to transfer that money to my current HSA without paying a penalty?
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Apr 22, 2020 20:03
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Yes, rollovers don't count toward the annual cap.
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Apr 23, 2020 02:09
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The HSA itself might charge you though, my company switched HSA providers a few years back and everyone lost like $50 or something ridiculous to rollover to the new provider.
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Apr 24, 2020 15:27
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Speaking of HSAs, I have an HSA I was contributing to when I was a contractor and had a HDHP. Now I'm employed and I have a PPO. So I can't contribute to this HSA any more? Before you ask, yes, I emailed both my insurance company and my HR dept with this question, and just haven't gotten a response yet.
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May 17, 2020 19:56
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Ramrod Hotshot posted:Speaking of HSAs, I have an HSA I was contributing to when I was a contractor and had a HDHP. Now I'm employed and I have a PPO. So I can't contribute to this HSA any more?
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May 17, 2020 21:06
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Hoodwinker posted:Correct. drat. Just curious, what if I did? Could I get audited and fined by the IRS?
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May 17, 2020 22:05
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Ramrod Hotshot posted:drat. Just curious, what if I did? Could I get audited and fined by the IRS?
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May 17, 2020 23:30
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This is a weird question. I'm moving from Australia to the United States at the end of the year. Got a job lined up and everything. I have two life insurance policies. #1. This is a life insurance payout of AUD 500,000 contained within my superannuation (the equivalent of 401k). It's extraordinarily cheap. It also pays me 75% of my salary for up to two years in the event of permanent and total disability. #2. Is an external policy that pays AUD 900,000 in life insurance. It also pays me 75% of my salary up to 65 years of age with a two-year waiting period (covering the limit of my superannuation policy) ---------------- My question: what do I do about these life insurance policies when I leave? I can obviously get life insurance in the United States, no problem. But I can also keep my policies in Australia (I've checked with the providers and I am able to keep them.) Here's what I'm thinking: #1. Keep both policies until I'm able to secure a new life insurance / TPD in the USA. #2. At that time, cancel my *external* life insurance policy, but keep the policy within my superannuation (as it's extraordinarily cheap and I might as well just have it as a bonus) That way, my main insurance is covered in the States. Might seem convoluted, sorry, but just trying to get my thoughts out.
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May 17, 2020 23:32
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CelestialScribe posted:This is a weird question. I would talk to a local broker once you get here and price things out. It might be cheaper to just keep paying for you AUS policies assuming they don't care where you die. I would get it in writing that they will cover you since you have moved permanently to the USA. Are both of the AUS policies "term" - like at 65 they evaporate? If so - good. Here in the USA the only thing you want is "term", tell anyone who suggests "universal" or "whole" or whatever to gently caress right off, but say it with a thick australian slur. If you smoke (anything), use tobacco in any form, or are above the BMI guidelines expect to pay a lot. If you have any medical conditions (heart disease, diabetes, hypertension, etc) it can also be comically expensive. Either way, don't cancel the old until you've secured the new.
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May 17, 2020 23:44
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H110Hawk posted:I would talk to a local broker once you get here and price things out. It might be cheaper to just keep paying for you AUS policies assuming they don't care where you die. I would get it in writing that they will cover you since you have moved permanently to the USA. Are both of the AUS policies "term" - like at 65 they evaporate? If so - good. Here in the USA the only thing you want is "term", tell anyone who suggests "universal" or "whole" or whatever to gently caress right off, but say it with a thick australian slur. Yeah cool. I do have sleep apnea, (I'm on CPAP) and yeah, a bit overweight but not super morbidly obese. Blood pressure etc are good though. I'll definitely get something in writing, thank you for that.
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May 17, 2020 23:47
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CelestialScribe posted:Yeah cool. I do have sleep apnea, (I'm on CPAP) and yeah, a bit overweight but not super morbidly obese. Talk to a broker if you're close to the underwriting guidelines for BMI. At 225/6'4" I was VERY close. You will want to show that your medical conditions are well managed. I would suggest not drinking alcohol, sugar (soda, candy, etc), or eating loads of junky food for a month then shopping around. Should help your blood chemistry come back clean. You only have to get past the nurse, then you can go back to your slovenly ways if you want. A local independent broker should have a sense for what the guidelines are at various companies. Force everyone to quote you annual single payment costs. Sometimes they will show you monthly, quarterly, annual, but anything but annual has a comically high hidden fee built into it. Think $600/year, $175/quarter ($700), $75/month ($900). Those are exaggerated examples but they will not tell you the surcharge for paying monthly, just the amount paid.
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May 18, 2020 00:01
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Thank you for the advice 
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May 18, 2020 00:18
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Keep in mind that those foreign life insurance policies will be a nightmare if you have a contested estate when you die. If your heirs aren't close family on good terms with each other, you absolutely need a will written by a professional, preferably a lawyer familiar with both US and Australian probate law.
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May 18, 2020 00:26
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Konstantin posted:Keep in mind that those foreign life insurance policies will be a nightmare if you have a contested estate when you die. If your heirs aren't close family on good terms with each other, you absolutely need a will written by a professional, preferably a lawyer familiar with both US and Australian probate law. Yeah I've got an Australian will, and I'm going to have an American will drawn up so I'll just have two - one for each jurisdiction. Edit: Sorry for another question. Between: - Life - Disability - Auto Insurance - Renter's Insurance - Umbrella Insurance My spending on insurance will come to about 10% of my after tax (post retirement contribution) income. Does that seem high? CelestialScribe fucked around with this message at 04:59 on May 18, 2020 |
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May 18, 2020 00:41
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It's probably more useful to express in dollar terms because most of those aren't really correlated with your income.
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May 18, 2020 16:50
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