My question involves insurance law for the state of: Colorado
I was rear-ended in November by an unlicensed driver. No injuries, "moderate" (according to the estimate) damage to the back of my 2014 vehicle. My insurance company covered the repairs and sent the claim to subrogation. Other insurance has not reimbursed (it's now in arbitration, per adjuster at my ins. co). Meanwhile, the other party's insurance company has sent me a form to sign- they tell me verbally that it is payment for the separate claim of diminished value, but the form has nothing about diminished value- instead, "Property Damage" and specifically states that the amount they are offering me (about a third of the repair cost) is all they will be paying to me or anyone representing me for any costs relating to the accident. They pressured me to "sign it right away so they could get the check mailed out"... it seems that they are trying to trick me into letting them out of the liability for the full amount.
State insurance commissioner's consumer line told me that they could contact the insurance company on my behalf and "ask if they are doing anything improper"... Apparently companies just 'fess up when they act like weasels? :wallbang:
Advice?
Thanks!
I was rear-ended in November by an unlicensed driver. No injuries, "moderate" (according to the estimate) damage to the back of my 2014 vehicle. My insurance company covered the repairs and sent the claim to subrogation. Other insurance has not reimbursed (it's now in arbitration, per adjuster at my ins. co). Meanwhile, the other party's insurance company has sent me a form to sign- they tell me verbally that it is payment for the separate claim of diminished value, but the form has nothing about diminished value- instead, "Property Damage" and specifically states that the amount they are offering me (about a third of the repair cost) is all they will be paying to me or anyone representing me for any costs relating to the accident. They pressured me to "sign it right away so they could get the check mailed out"... it seems that they are trying to trick me into letting them out of the liability for the full amount.
State insurance commissioner's consumer line told me that they could contact the insurance company on my behalf and "ask if they are doing anything improper"... Apparently companies just 'fess up when they act like weasels? :wallbang:
Advice?
Thanks!
Auto Insurance: Other Driver's Ins. Co Trying to Settle with Me Directly and Misrepresenting Document
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