I’m just wondering what these “limited” policies are that keep being mentioned… I’ve never seen such a thing in Texas.
As for claim service, the only company that I hear consistant complaints about in my agency is Fred Loya. I’ve heard complaints about every company at one time or another, but Fred Loya is the one that takes the cake. In fact, there are local body shops that refuse to accept their claimants.
Fred Loya is the worst. I run an auto glass shop and I will NOT do business with them. The insured may save money on their policy, but if they ever need repairs, they are screwed. You get what you pay for.
Some companies will low ball estimates of repair or if the vehicle is totalled, they will try to go as low as possible until they have a complaint. It often takes a subrogation action against them to get them to pay up when they are liable. The Good Hands and Good Neigbors people are famous for that. It is the way they train their adjustors.
Most carriers that I work with have body shop arrangements that facilitate claims handling. This is a consumer service that decreases the whole claims cycle and saves the consumer and carrier money.
I am not aware of a single carrier that crosses the line with respect to the Texas Statute?
My insured’s have always been pleased with how this system works. Travelers, MetLife, SAFECO, Unitrin, Hanover while they were in TX, and Hartford all provide superb claims service.
As an agent I sell the service, and I’ve used it on more than one occasion, so I speak from experience.
That’s what I was thinking, too, but after reading some language on a limited policy, I don’t think it conflicts. The limited policy I read mentioned that they don’t cover betterment. To me, paying for betterment falls under “The notice also specifies that an insurer is not required to pay more than a reasonable amount for such repairs and parts.”
But it is interesting. The limited policies were approved by TDI, so it can’t be in violation of this statue. Maybe since the insured signs a paper stating that they understand the limitations, that might work as a wavier.
my guess is that the TDI approved these “limited” policies after they interpreted them one way, and once approved the insurance companies are interpreting them in their favor.
For those concerned about the quality of parts, there are some carriers that offer an OEM endorsement that specifies that all repairs to be made will be done with manufacturer parts, and not aftermarket. Makes some of these warnings from the TDI a moot point
I’m just wondering what these “limited” policies are that keep being mentioned… I’ve never seen such a thing in Texas.
As for claim service, the only company that I hear consistant complaints about in my agency is Fred Loya. I’ve heard complaints about every company at one time or another, but Fred Loya is the one that takes the cake. In fact, there are local body shops that refuse to accept their claimants.
Fred Loya is the worst. I run an auto glass shop and I will NOT do business with them. The insured may save money on their policy, but if they ever need repairs, they are screwed. You get what you pay for.
Some companies will low ball estimates of repair or if the vehicle is totalled, they will try to go as low as possible until they have a complaint. It often takes a subrogation action against them to get them to pay up when they are liable. The Good Hands and Good Neigbors people are famous for that. It is the way they train their adjustors.
This is in direct conflict to several LIMITED policies approved by the TDI and currently being written in TX by no less then 50 companies???
DM, I guess I missed your point. Are you saying that this could only happen under a limited policy? duh?
PLEASE GIVE ME YOUR DEFINITION OF “LIMITED” POLICIES AND IF POSSIBLE, NAMES OF THESE COMPANIES!
Most carriers that I work with have body shop arrangements that facilitate claims handling. This is a consumer service that decreases the whole claims cycle and saves the consumer and carrier money.
I am not aware of a single carrier that crosses the line with respect to the Texas Statute?
My insured’s have always been pleased with how this system works. Travelers, MetLife, SAFECO, Unitrin, Hanover while they were in TX, and Hartford all provide superb claims service.
As an agent I sell the service, and I’ve used it on more than one occasion, so I speak from experience.
That’s what I was thinking, too, but after reading some language on a limited policy, I don’t think it conflicts. The limited policy I read mentioned that they don’t cover betterment. To me, paying for betterment falls under “The notice also specifies that an insurer is not required to pay more than a reasonable amount for such repairs and parts.”
But it is interesting. The limited policies were approved by TDI, so it can’t be in violation of this statue. Maybe since the insured signs a paper stating that they understand the limitations, that might work as a wavier.
my guess is that the TDI approved these “limited” policies after they interpreted them one way, and once approved the insurance companies are interpreting them in their favor.
For those concerned about the quality of parts, there are some carriers that offer an OEM endorsement that specifies that all repairs to be made will be done with manufacturer parts, and not aftermarket. Makes some of these warnings from the TDI a moot point