Lessons Learned

Follow this link to start at the beginning of the series of posts.

Dealing with the Insurance company was an educational experience, frustrating, but fruitful in the end.  When it was over the payout for the damaged Santorin S4 rose from $10,000 to $16,500, a 65% increase from what the insurance company offered me initially.

  • Along the way I learned that the value offered by the insurance companies is likely less than what the car is really worth.
  • The insurance companies hire a firm called CCC to provide them with market values for cars, this is simply a recommendation.
  • This insurance company blindly accepted the recommendations of CCC in spite of glaring errors in the market value assessment report.
  • The CCC reports I reviewed had errors, exhibited poor appraisal techniques, and the people I spoke with at CCC were unsophisticated and rude.
  • This insurance company justified their actions with weak logic and repeatedly deferred to the company they hired, CCC, acting like there was nothing they could do in situations that they in fact had full control over.
  • Policy and claims are two separate entities within an insurance company.  Policy, who you deal with most of the time, are in the business of taking your money, therefore they treat you nice and are helpful.  The claims side of the business has to pay you money, they are far less helpful, more than that, they’re working to protect the company’s bottom line at your expense.  Claims people are the enemy, don’t forget that.
  • Insurance fraud is the second most common crime, second to tax fraud, as a result Insurance companies behave like every claim is fraudulent and cut their losses by paying out less across the board.
  • An informed car owner who is willing to put up a fight is likely to get a higher payout.  The process is most painful for those who have legitimate claims and want to get what they rightly deserve.
  • The Insurance company enters an agreement with you then happily takes your insurance premium, if you have to use your policy hold them to providing what you’ve paid for.

With the outside involvement over with regards to the Santorin S4 I turned my attention to acquiring a replacement S4.  That effort is documented in the AgS4 posts.

Audi B5 S4 on cinder blocks
One chapter ends, another begins.

Moving Forward: AgS4