More than half of the states in the USA require that the insurance company pay state sales tax when you replace your total loss vehicle. What those states do not mandate is that the insurance company has to tell you about the tax issue. You probably won’t get the sales tax unless you ask for it.
To find out if your state requires the extra sales tax payment, contact your state’s Department of Insurance.
No insurance company, whether it is your insurer, or another insurer who insures an at-fault driver, wants to pay you one dollar more than the lowest Actual Cash Value (ACV) that they can find. When the insurance company declares your car a total loss is when the strenuous negotiations begin.
Your mission...should you accept it...is to prove that your car is worth its absolute highest value.
State sales tax percentages vary widely from state to state. Here in Georgia, sales tax is calculated on a county-by-county basis. In Cobb County, where I live, the sales tax is 5%. However, just across the county line in Fulton County, the sales tax is 7%. But in the City of Atlanta, sales tax is 8%.
Look at the numbers on a $30,000 automobile. If you lived in Cobb County at 5%, the insurance company would owe you an additional $1,500.00. If you lived in Atlanta at 8%, the amount would be $2,400.00.
If you do not demand the extra sales tax payment, you're leaving thousands of dollars on the table that you are likely entitled to collect.
Don’t allow the insurance companies to mislead you. The Actual Cash Value of the car must include the state sales tax.
Tuesday, February 3, 2009
Insurance Claims Adjusters: Five Secrets of Getting Your Way With Claims Adjusters
Insurance claims adjusters are, for the most part, very nice people in a tough job. They are caught in between the insurance company that wants them to control the claim settlement amount, and you, the policyholder or claimant, who wants the very highest settlement amount possible.
But I’m not nearly as concerned about them. If they don’t like their job, they can quit. Nobody is forcing them to be claims adjusters.
I’m mostly concerned about you, the policyholder.
The book that I wrote, “Insurance Claim Secrets REVEALED!” shows consumers all the ways that they can take control of their insurance claims, and add hundreds or even thousands more dollars to their claim settlements. Many of the strategies in the book are confrontational. But you can learn to confront honestly without unpleasantness.
Insurance companies have games and scams that they use to delay claims and minimize settlements. Policyholders and claimants are usually placed under financial hardship when they have an insured loss. Few of the people I’ve ever met who had a claim could afford to repair or replace their damaged goods out of their bank account. Most of the time, people depend upon the restitution they receive from the insurance company.
Insurance companies know this, and rely upon it. They know that delays will place pressure on policyholders and claimants, and that makes them more willing to accept lower settlements.
Back in September 2008 I wrote and posted an article about “Dealing with Adjusters.” It has been one of my most popular articles. Thousands of people have read it. But today I want to put a spin on that article and make an even more obvious point.
When you are dealing with claims adjusters, make sure that you are ALWAYS pleasant, well-mannered, and polite. You can’t control them, but you CAN control YOU.
You need to “nice them to death!” Make sure you are doing the following:
1. Speak calmly whether in person or by phone, no matter what your level of frustration may be.
2. Make your requests for payment, documents or any other requests politely, and make them in writing.
3. Be firm but respectful when you are using a claim strategy. Being demanding will only make the adjuster feel threatened, and he will want to resist your demand to prove he cannot be controlled by you.
4. When you write a letter, be sure that you are polite and respectful. Simply state what you want them to do and remember to say “please” and “thank you”...just like your mother taught you.
5. Do not, under any circumstances, lose your temper! Words said in anger are impossible to retract. You can apologize as much as you want, but better to say things for which you will not have to apologize. Be in control. If you feel like blowing up at your adjuster, end the meeting or phone conversation and come back another time to finish your business.
I promise you that you will never regret maintaining your composure when you are immersed in the claims process.
But I’m not nearly as concerned about them. If they don’t like their job, they can quit. Nobody is forcing them to be claims adjusters.
I’m mostly concerned about you, the policyholder.
The book that I wrote, “Insurance Claim Secrets REVEALED!” shows consumers all the ways that they can take control of their insurance claims, and add hundreds or even thousands more dollars to their claim settlements. Many of the strategies in the book are confrontational. But you can learn to confront honestly without unpleasantness.
Insurance companies have games and scams that they use to delay claims and minimize settlements. Policyholders and claimants are usually placed under financial hardship when they have an insured loss. Few of the people I’ve ever met who had a claim could afford to repair or replace their damaged goods out of their bank account. Most of the time, people depend upon the restitution they receive from the insurance company.
Insurance companies know this, and rely upon it. They know that delays will place pressure on policyholders and claimants, and that makes them more willing to accept lower settlements.
Back in September 2008 I wrote and posted an article about “Dealing with Adjusters.” It has been one of my most popular articles. Thousands of people have read it. But today I want to put a spin on that article and make an even more obvious point.
When you are dealing with claims adjusters, make sure that you are ALWAYS pleasant, well-mannered, and polite. You can’t control them, but you CAN control YOU.
You need to “nice them to death!” Make sure you are doing the following:
1. Speak calmly whether in person or by phone, no matter what your level of frustration may be.
2. Make your requests for payment, documents or any other requests politely, and make them in writing.
3. Be firm but respectful when you are using a claim strategy. Being demanding will only make the adjuster feel threatened, and he will want to resist your demand to prove he cannot be controlled by you.
4. When you write a letter, be sure that you are polite and respectful. Simply state what you want them to do and remember to say “please” and “thank you”...just like your mother taught you.
5. Do not, under any circumstances, lose your temper! Words said in anger are impossible to retract. You can apologize as much as you want, but better to say things for which you will not have to apologize. Be in control. If you feel like blowing up at your adjuster, end the meeting or phone conversation and come back another time to finish your business.
I promise you that you will never regret maintaining your composure when you are immersed in the claims process.
Insurance For Stupid People: the Top Ten Funniest Coverage Decisions of 2008
People regularly do stupid things that cause someone else an injury. Then the inevitable lawsuit gets filed, and then an insurance clam gets filed, too. But occasionally, the courts get it right in their decisions, and we get to make fun of the plaintiffs and defendants.
My friend Randy Maniloff is a genius attorney, a partner in the Business Insurance Practice Group at White & Williams in Philadelphia. He recently wrote an article that showcased these court decisions, and gave me permission to share them with you.
So, in order of dumbness (lowest to highest), here is the Top Ten Funniest Coverage Decisions of 2008:
10. A motivational speaker repeatedly urged a seminar participant to break a board with her bare hands. After she tried and was successful only in injuring her hand, she sued the speaker. In Reese v. Alea London Ltd., the Court decided that the speaker’s policy had a Professional Services exclusion that precluded coverage. I guess “mind over matter” doesn’t include lumber. I also guess you can be “board” to tears in this guy’s seminars.
9. The insured was playing around his backyard pool and tried to throw someone in the pool. However, he miscalculated the strength he’d need to complete the throw, and instead threw the victim onto the pool’s steps, seriously injuring the victim. State Farm denied coverage. In State Farm Fire & Casualty v. Superior Court, the Court decided that coverage was owed since the insured’s only intent was to get the victim wet. Note to the insured: next time you want to get a woman wet, take her out for dinner and dancing.
8. The insured got into a fight, and got his hand stuck in the glass of a sliding glass door. He shot the glass to free his hand and the bullet ricocheted into the chest of a woman inside the house. In Shelter Mutual Insurance v Wheat, the Court decided there was no coverage because the injury was not caused by an “accident.” In other news, Bob Vila will be hosting a memorial service for the door.
7. The insured business hired violent offenders to go door-to-door and sell magazines. Their aggressive sales tactics caused.injuries and at least one death. In Nautilus Insurance Company v. Reuter, the parties are waiting to see which way the Court interprets the policy term “occurrence” to figure out if there’s coverage. The Girl Scouts need to hire these guys for next year’s cookie drive.
6. A middle school student caused injuries to a teacher’s aide when, in the middle of a cafeteria food fight, he struck the aide with a garbage can. In Medrano v. State Farm Insurance Company, the Court decided that the insurer had to provide defense under the Homeowners policy because the Complaint implied that the injuries were unintentional. In the student’s defense, he couldn’t tell the difference in the garbage or school cafeteria food.
5. A karaoke singer was waving around an ice cream scoop (her microphone?) when it flew out of her hand and hit someone, causing injuries. In Nationwide Mutual Fire Insurance v. Kim, the Court decided that the insurance company had to provide defense for the singer under her Homeowners liability coverage, since the Court didn’t buy the argument that the injuries weren’t because of negligence. I wonder if she was singing “Tutti Fruiti” at the time of the incident.
4. An insured restaurant had a gas grille at a tailgate party at a Jimmy Buffet concert. The gas grille wouldn’t light, so they poured gasoline on it, and the explosion caused injuries. In United States Liability Insurance Co. v. Harbor Club, the Court denied coverage to the restaurant because the incident was not on the insured’s premises. Yummy...toasted Parrotheads. I wonder if the smoke from this explosion could be distinguished from the marijuana cloud at the concert.
3. The insured caused injuries to an old friend by saying hello with his “signature greeting,” which was putting the old friend in a headlock and squeezing his head while asking him how he was doing. In Sanford v. Century Surety Co., the Court denied coverage because the injury was not caused by an accident and the “assault and battery” exclusion applied. Imagine how the insured must greet those who are not his friends.
2. The homeowner caused injuries and one death to party guests when the host used gunpowder as a propellant to shoot his potato gun. In Kiser v. Coffee, coverage was denied because injury was reasonably expected from this intentional act. The potato in question is now in a low earth orbit, visible in a clear night sky.
And the Number One Funniest Coverage Decision of 2008 is....
1. The insured’s minor son injured his friend by kicking him twice in the groin after learning that his friend’s sister did not like him. In American National Property & Casualty v. Hanna, coverage was denied because the injury was not caused by an accident. Love hurts.....
A big “thank you” to Deborah Richards, Geri Lumsden and Jarrett Smith for their smart-assed assistance with the one-liners in this article.
Stay tuned. I’m sure there will be plenty of court cases in 2009 for our next Top Ten List!
My friend Randy Maniloff is a genius attorney, a partner in the Business Insurance Practice Group at White & Williams in Philadelphia. He recently wrote an article that showcased these court decisions, and gave me permission to share them with you.
So, in order of dumbness (lowest to highest), here is the Top Ten Funniest Coverage Decisions of 2008:
10. A motivational speaker repeatedly urged a seminar participant to break a board with her bare hands. After she tried and was successful only in injuring her hand, she sued the speaker. In Reese v. Alea London Ltd., the Court decided that the speaker’s policy had a Professional Services exclusion that precluded coverage. I guess “mind over matter” doesn’t include lumber. I also guess you can be “board” to tears in this guy’s seminars.
9. The insured was playing around his backyard pool and tried to throw someone in the pool. However, he miscalculated the strength he’d need to complete the throw, and instead threw the victim onto the pool’s steps, seriously injuring the victim. State Farm denied coverage. In State Farm Fire & Casualty v. Superior Court, the Court decided that coverage was owed since the insured’s only intent was to get the victim wet. Note to the insured: next time you want to get a woman wet, take her out for dinner and dancing.
8. The insured got into a fight, and got his hand stuck in the glass of a sliding glass door. He shot the glass to free his hand and the bullet ricocheted into the chest of a woman inside the house. In Shelter Mutual Insurance v Wheat, the Court decided there was no coverage because the injury was not caused by an “accident.” In other news, Bob Vila will be hosting a memorial service for the door.
7. The insured business hired violent offenders to go door-to-door and sell magazines. Their aggressive sales tactics caused.injuries and at least one death. In Nautilus Insurance Company v. Reuter, the parties are waiting to see which way the Court interprets the policy term “occurrence” to figure out if there’s coverage. The Girl Scouts need to hire these guys for next year’s cookie drive.
6. A middle school student caused injuries to a teacher’s aide when, in the middle of a cafeteria food fight, he struck the aide with a garbage can. In Medrano v. State Farm Insurance Company, the Court decided that the insurer had to provide defense under the Homeowners policy because the Complaint implied that the injuries were unintentional. In the student’s defense, he couldn’t tell the difference in the garbage or school cafeteria food.
5. A karaoke singer was waving around an ice cream scoop (her microphone?) when it flew out of her hand and hit someone, causing injuries. In Nationwide Mutual Fire Insurance v. Kim, the Court decided that the insurance company had to provide defense for the singer under her Homeowners liability coverage, since the Court didn’t buy the argument that the injuries weren’t because of negligence. I wonder if she was singing “Tutti Fruiti” at the time of the incident.
4. An insured restaurant had a gas grille at a tailgate party at a Jimmy Buffet concert. The gas grille wouldn’t light, so they poured gasoline on it, and the explosion caused injuries. In United States Liability Insurance Co. v. Harbor Club, the Court denied coverage to the restaurant because the incident was not on the insured’s premises. Yummy...toasted Parrotheads. I wonder if the smoke from this explosion could be distinguished from the marijuana cloud at the concert.
3. The insured caused injuries to an old friend by saying hello with his “signature greeting,” which was putting the old friend in a headlock and squeezing his head while asking him how he was doing. In Sanford v. Century Surety Co., the Court denied coverage because the injury was not caused by an accident and the “assault and battery” exclusion applied. Imagine how the insured must greet those who are not his friends.
2. The homeowner caused injuries and one death to party guests when the host used gunpowder as a propellant to shoot his potato gun. In Kiser v. Coffee, coverage was denied because injury was reasonably expected from this intentional act. The potato in question is now in a low earth orbit, visible in a clear night sky.
And the Number One Funniest Coverage Decision of 2008 is....
1. The insured’s minor son injured his friend by kicking him twice in the groin after learning that his friend’s sister did not like him. In American National Property & Casualty v. Hanna, coverage was denied because the injury was not caused by an accident. Love hurts.....
A big “thank you” to Deborah Richards, Geri Lumsden and Jarrett Smith for their smart-assed assistance with the one-liners in this article.
Stay tuned. I’m sure there will be plenty of court cases in 2009 for our next Top Ten List!
Subscribe to:
Posts (Atom)
