Expert: Richard Hixenbaugh - 4/21/2009

Question
Hi there!
On 2007 I bought a motorcycle in the State of Florida, Polk County. All payments were withdraw from my bank account never miss one, until I lost my job for the reason every one knows. I did not know I was paying for a protection insurance on the account and never was sent to me any kind of documentation in reference to such insurance. I had call GEO Financial, to explain that I was going to be late on my payments, and that's when I came to find out about the insurance by the customer service. They sent me the form, filled and sent back, and their response was that they can not comply with such request. It's there some kind of rights that protects me on my claim?
Please advice
Edgar

Answer
Hi Edgar,

First of all, you need to call them back and ask them to send you a copy of the full policy which explains what is covered and how it is covered. You need to also ask them to send you in writing, the exact reason that they are denying your claim. If you feel satisfied that they have properly denied your claim, then there is nothing more you can do. If you do not feel satified with their explanation, then you can file a complaint with the Florida Department of Insurance and they will investigate to determine if the denial is appropriate.

You also have to keep in mind, that these job loss, disability or credit life insurance policies are generally a rip off. They are primarily designed to make more profit to the dealer with very little chance of anyone every collecting any money.

I hope this helps
Richard Hixenbaugh