Expert: Doctor Settlement - 12/19/2006

Question
My motorcycle was stolen on 10/15/2006. I had coprehensive insurance incuding theft. My insurance company (Dairyland? Sentry) has paid off the bank. Now they say they want to talk to me again. Under oath on Jan. 4th. They say at that time they may decide to not pay me for the theft. How can they deny paying me when the motorcycle  was stolen, a police report filed and it has not been recovered? They have been stringing me along for over 2 months now. I am broke because I have no vehicle for going to work. Can the insurance commisioner (Florida) help me? Thank you, Pedro.

Answer
Dear Pedro,

First party (i.e. versus your OWN insurance company) theft cases probably attract the most attention because of the ease of committing fraud.  

The fact that they want your statement to be under oath, in and of itself, does not mean that they believe you are defrauding them.  But it does signal that there is some aspect of this loss that has aroused the curiosity of the company.  

One thing they will look at is if you have any prior losses from other companies.  They have access to that information inasmuch as your prior reported losses are likely reported within the C.L.U.E program.  http://encyclopedia.thefreedictionary.com/Comprehensive+Loss+Underwriting+Exchan...

Perhaps they also have some credit history on you or other information that is not favorable.  Should you try to back out of the statement?  NO--assuming this was a theft, then go forward and tell the truth.

Your own company does have the right to take your statement under oath.  Remember that anything said under oath is also subject to the laws of perjury.  Thus, you will want to be careful in your statements, and also LISTEN CAREFULLY TO THE QUESTIONS.  

Do not go on and on volunteering information.  Let them ask the questions.  Answer what is asked, and no more.  Be polite, with "sir" or "mame" sprinkled in.  Do not act "put upon" for having to be there.  Assume that their job is to keep your premiums low by strict investigation of losses, so take a positive outlook and you will do fine.

Just the same, it would be best to get a little preparation from a professional in the area.  What I want you to do ASAP is to get in touch with your county or state bar association local lawyer referral service.  If there is not one in your county, then just consult over the phone to where there is one.

The lawyer referral service will charge only $35 to $50 for a full hour of consultation on this topic.

They will be able to review the facts of the theft, your discovery and reporting of it, and any other areas that you may need to discuss prior to going under oath.  

Yes, you can also call your state insurance commissioner, but unless there is some kind of abuse apparent in the handling of your claim, this process is totally within the rights of the company.  Find your state insurance commissioner http://www.settlementcentral.com/links.php

Best wishes,

Dr. Settlement, J.D. (Juris Doctor)
www.SettlementCentral.Com