A insurance company claims I owe them money for a claim on my property, I have no ins.What could evolve to me?
My chimney fell onto another persons vehicle, I had no homeowners insurance at the time. They are in a minute sending me the bill and threatening legal action. What is the worst overnight case scenario for me? The claim is approx $5300. thank you
Answers:
So...did you knock the chimney down? Why was the other person's vehicle so close to your house? Why didn't you hold homeowner's insurance?
Sure would like to know more about the claim....and why they feel that you are liable for the damages. Was this some guy trying to get rid of his Toyota?? (Seen the commercials??) Source(s): Insurance agent for 27+ years
The worst case scenario is that you will pay the $5300, since you are responsible for the blight caused by your chimney. Had you had homeowner insurance, it would own stepped in to pay the damages. Absent the insurance, the debt falls directly on YOU.
They can and will sue you.
After you incur lawful fees defending (attorneys in my area charge 250 per hour) - You will conclusion up with a judgment on your register. This will impact your credit rating. Any time you try to purchase something on credit - buy or sell your home - inherit property - the judgment will show up.
Here's my suggestion - call the insurance company - set up a payment plan near them. They will do it - interest free. Usually they want at least 100 per month until the debt is paid surrounded by full. As long as you make your monthly payment - they will not exact problems for you.
Or, offer to make a reduced lump sum expenditure - offer to pay 4000 within a lump sum by 1/15/08 as payment in full. Many insurance companies would to some extent have a reduced lump sum amount in appendage now- than 100 per month until the debt is paid in full. The insurance company will probably be likely to give you a bit of a discount for a reduced lump sum payment.
Ignoring them is not a angelic idea. They have the financial resources to sue you - bring a judgment - reinstate the judgment when needed - turn you over to collections. If you give the brush-off them - they will not go away. Source(s): Insurance Adjuster 12 years
They could sue you. You may want to try to settle for less.
Worst case is that you owe $5300.
What happens is that the other company pays the property bring down for their insureds vehicle. They (insurance company) then will sue you for the money because you were at denounce for the damage to the vehicle. Had you been insured your property deface liability coverage would have paid for the wound.
Let them sue you.
Unless you KNEW the chimney was within bad shape, and didn't do anything to fix it, you're not going to be held legally liable for it.
And it's going to be DAMN not easy for them to prove you had KNOWLEDGE.
Worst case, is that they sue you and win, and you enjoy to pay that $5300. Source(s): agent, 21+ years
Worst grip: Claim plus legal fees...knowing nothing going on for your case, I would say $10k...so try to settle for smaller number. Consult a lawyer please.
Unless the chimney was hit by lightning or knock down by a fallen tree, you are probably liable. Chimneys don't just slump down without showing signs of really bad wear & break. There probably were many loose/missing bricks & most of the mortar be missing. It could have also been separating from the house. I'm assuming you know that the chimney was in unpromising shape & if the average person could see it was a problem and nil was done to fix it, then yes you are liable.
So, what I would do is christen the insurance company & negotiate a settlement. You can offer a payment plan or a reduced amount lump sum. If you agree to this go to court, you will need to hire your own attorney, at $250-$300 per hr, plus more if they in reality have to GO to court (PLUS paralegal fees), so in the closing stages you may be paying MORE than the original $5300 - probably LESS than 20 hrs worth of work on the attorney's part.
Good luck to you - I hope you own homeowners insurance now!! I also hope you have built a topical chimney too since heating season is here & if you don't have a proper chimney, you may cease up with a fire or carbon monoxide in your home. Source(s): Insurance agent
They can place a lien on your house which can motivation conflict to the mortgage company finacing your loan. They can also pursue reasonable legal expenses to acomplish such. The best remedy is to settle the dispute near the insurance company possibly with routine payments.
Related Questions:
Answers:
So...did you knock the chimney down? Why was the other person's vehicle so close to your house? Why didn't you hold homeowner's insurance?
Sure would like to know more about the claim....and why they feel that you are liable for the damages. Was this some guy trying to get rid of his Toyota?? (Seen the commercials??) Source(s): Insurance agent for 27+ years
The worst case scenario is that you will pay the $5300, since you are responsible for the blight caused by your chimney. Had you had homeowner insurance, it would own stepped in to pay the damages. Absent the insurance, the debt falls directly on YOU.
They can and will sue you.
After you incur lawful fees defending (attorneys in my area charge 250 per hour) - You will conclusion up with a judgment on your register. This will impact your credit rating. Any time you try to purchase something on credit - buy or sell your home - inherit property - the judgment will show up.
Here's my suggestion - call the insurance company - set up a payment plan near them. They will do it - interest free. Usually they want at least 100 per month until the debt is paid surrounded by full. As long as you make your monthly payment - they will not exact problems for you.
Or, offer to make a reduced lump sum expenditure - offer to pay 4000 within a lump sum by 1/15/08 as payment in full. Many insurance companies would to some extent have a reduced lump sum amount in appendage now- than 100 per month until the debt is paid in full. The insurance company will probably be likely to give you a bit of a discount for a reduced lump sum payment.
Ignoring them is not a angelic idea. They have the financial resources to sue you - bring a judgment - reinstate the judgment when needed - turn you over to collections. If you give the brush-off them - they will not go away. Source(s): Insurance Adjuster 12 years
They could sue you. You may want to try to settle for less.
Worst case is that you owe $5300.
What happens is that the other company pays the property bring down for their insureds vehicle. They (insurance company) then will sue you for the money because you were at denounce for the damage to the vehicle. Had you been insured your property deface liability coverage would have paid for the wound.
Let them sue you.
Unless you KNEW the chimney was within bad shape, and didn't do anything to fix it, you're not going to be held legally liable for it.
And it's going to be DAMN not easy for them to prove you had KNOWLEDGE.
Worst case, is that they sue you and win, and you enjoy to pay that $5300. Source(s): agent, 21+ years
Worst grip: Claim plus legal fees...knowing nothing going on for your case, I would say $10k...so try to settle for smaller number. Consult a lawyer please.
Unless the chimney was hit by lightning or knock down by a fallen tree, you are probably liable. Chimneys don't just slump down without showing signs of really bad wear & break. There probably were many loose/missing bricks & most of the mortar be missing. It could have also been separating from the house. I'm assuming you know that the chimney was in unpromising shape & if the average person could see it was a problem and nil was done to fix it, then yes you are liable.
So, what I would do is christen the insurance company & negotiate a settlement. You can offer a payment plan or a reduced amount lump sum. If you agree to this go to court, you will need to hire your own attorney, at $250-$300 per hr, plus more if they in reality have to GO to court (PLUS paralegal fees), so in the closing stages you may be paying MORE than the original $5300 - probably LESS than 20 hrs worth of work on the attorney's part.
Good luck to you - I hope you own homeowners insurance now!! I also hope you have built a topical chimney too since heating season is here & if you don't have a proper chimney, you may cease up with a fire or carbon monoxide in your home. Source(s): Insurance agent
They can place a lien on your house which can motivation conflict to the mortgage company finacing your loan. They can also pursue reasonable legal expenses to acomplish such. The best remedy is to settle the dispute near the insurance company possibly with routine payments.
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