Auto Insurance Claims/stolen vehicle

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Expert: - 9/5/2009


Question
I was traveling about 50mph, and a man doing about 90 rear ended my boat.  He totaled the boat and the trailer, my truck went down an enbankment, had moderate damage, but more than what the truck was worth.  The man ran and made it about a mile down the road until the tire fell off.  He fled the seen and the cops got the truck.  It wasn't reported stolen at the time. the next day it was reported stolen.  What can i do?

Answer
His insurance company and the police will investigate.  If they think the truck was stolen, then you were hit by an uninsured vehicle.  If the owner was lying about the theft, then his insurance company has a coverage question because he ws trying to commit insurance fraud.  They will investigate and determine whether or not they provide him liability coverage, which would pay you.  This could take a while to sort out.

The best thing you can do is let your insurance company handle your damages under Collision coverage and then subrogate against either his insurance company or the driver to collect their payout and your deductible.  If you do not have Collision coverage, then uninsured Motorist coverage may apply.  If the auto coverage does not cover the boat, your homeowners coverage will.

Auto Insurance Claims

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Claims Guy

Expertise

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer......I can answer questions related to any aspect of Automobile insurance claims and coverages. I can provide an inside look at how insurers operate. I always treat my customers fairly and want to help make sure you are treated fairly. However, please keep in mind that being treated fairly according to the law does not guarantee that you will get what you want. I can also answer some questions regarding Homeowner's and other types of insurance claims. I have handled all types of auto insurance claims and coverages. I am NOT an automotive repair expert but can give advice re how insurers handle complex repair issues. Please keep in mind that every state has its own set of laws pertaining to rules of the road, liability, and insurance. No one is an expert on every state. I am most familiar with laws in Maryland, DC, West Virginia, and Virginia, but will attempt to answer questions for other states. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Experience

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Organizations
CPCU Society. Adjusters license in multiple states. International Association of Specal Investigators

Education/Credentials
I have a B.S. in Finance and have completed the AIC and CPCU designations.

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