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Posting a reply to: RE: Totaled my trailer....Insurance question

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[QUOTE]Insurance Guy in IL - 12/27/2007  12:41 PM

Many times, personal lines companies will make an exception "in good faith" to prevent the bad publicity of having an angry ex-policyholder spewing ill will everywhere about their company.

If you cannot get this taken care of with the company, contact your state's Department of Insurance and file a complaint and ask them for advice.  I can say, with high confidence, that if you file an E&O claim against your agent that is legitimate, you will prevail.  This type of thing happens ALL the time and most agents will try to buffalo you into thinking that it is your fault.  Bottom line, if you were led to believe that you were properly insured, your agent represented that you were, AND he made up an incorrect figure, he IS on the hook.  All states' insurance codes overwhelmingly favor you, the insured.  This type of stuff scares the heck out of me as an agent.  I've heard of really bad E7O issues that cost millions to settle. While not a small issue to you, this is a small E&O issue and should be resolved easily.

If you have any further questions, I'll try to help.  You can e-mail me at bsirota@guildins.com    AND if anyone needs restaurant or tavern insurance in IL I can help!  :-)

Bryan[/QUOTE]

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You are replying to:

Insurance Guy in IL

Posted 12/27/2007 12:41 PM (#290711 - in reply to #289551)
Subject: RE: Totaled my trailer....Insurance question

Being in the ins biz, I can tell you that if your agent "assumed" a figure for the trailer without your consent, or explicit intructions, he is on the hook for the mistake IF the company does not bend and settle your claim to your satisfaction.

Many times, personal lines companies will make an exception "in good faith" to prevent the bad publicity of having an angry ex-policyholder spewing ill will everywhere about their company.

If you cannot get this taken care of with the company, contact your state's Department of Insurance and file a complaint and ask them for advice. I can say, with high confidence, that if you file an E&O claim against your agent that is legitimate, you will prevail. This type of thing happens ALL the time and most agents will try to buffalo you into thinking that it is your fault. Bottom line, if you were led to believe that you were properly insured, your agent represented that you were, AND he made up an incorrect figure, he IS on the hook. All states' insurance codes overwhelmingly favor you, the insured. This type of stuff scares the heck out of me as an agent. I've heard of really bad E7O issues that cost millions to settle. While not a small issue to you, this is a small E&O issue and should be resolved easily.

If you have any further questions, I'll try to help. You can e-mail me at [email protected] AND if anyone needs restaurant or tavern insurance in IL I can help!

Bryan