Insurance Companies

I recently bought a new car. While I was in the process of dealing with the insurance company they asked me about my job. I said that I was a personal care attendant for twin boys who had cerebral palsy. They asked if the car would be used for work or only for pleasure. I said that I would use it to drive to work and occasionally to transport the boys to their appointments. The insurance agent said that it was absolutely unacceptable to drive the boys for my job. I said that it’s part of the job description and asked what she expected me to do. She didn’t have any answers and just said that no company would cover me to drive around the boys as part of my job. Does anyone have any suggestions of how to get around this? There has to be an option for this type of job. Most personal care attendants I know are required to drive on the job, and I just don’t know what they expect us to do. Also, the consequences if anything happens while the kids are in my car are total loss of coverage on the ENTIRE plan (including house insurance). Please help!

If you are driving people around as part of your job, you need a COMMERCIAL auto insurance policy. You can’t do this, on a personal insurance policy, and be covered. Although you can buy a commercial auto policy, it’s going to START at $5,000 a year – pretty pricey.

The BEST way around this, is for the parent to provide the auto that drives their kids around.

MOST personal care attendants don’t realize they’re driving uninsured, until after the accident.

Consequences of driving these kids without proper insurance? You could be paying off a lawsuit for damages, for the rest of your life.

resulting from the fact the automobile has now been involved in an accident?

If they fixed the car to be of like quality and kind then it shouldn’t have a drastic depreciation due to the accident. Now if the car was totalled and you got it fixed, but it has a salvage title, then you have already been paid out for it. More than likely, to get financial reimbursement, you signed a paper stating that this relinquishes them from and further payments as far as property damage. Yes, you can sue, but figure out exactly how much you would sue for. Then calculate how much it would cost you to get a lawyer, pay court costs, and time that you have to take off work and see if it is worth pursuing.

I was going straight down the street in a residential neighborhood 2 lane. As I was going down the street at approx. 25 MPH, a Ford ranger pick up was stopped, getting ready to make a left turn as I was approaching him. As there was no stop signs, and only left turn available, as I came to thet point , he decides to turn right in front of me, thus I slam on my brakes and try to turn away from him, however it was to late and his front right side bumper struck my passenger side front , smashing my bumper, running lights, headlights, and right front hood all buckled and pushed back. Who , and why would be at fault? Of course I can’t see how i could be found at fault, as didn’t i have the right of way? Thanks

They were definitely at fault.

The insurance company will base it on the police accident report.

I was in an automobile accident that wasn’t my fault. the other driver’s insurance company is supposedly going to pay for all my repairs (as they should). I also need a rental car as it will take awhile to get my car fixed. I’m under 21 and no rental car company will let me rent one on my own, UNLESS I can get "full coverage" from the insurance company. the problem is the insurance company only wants to send me cash up front to reimberse for the rental car. I don’t have anyone that could rent one for me as I don’t live near my parents. I asked the insurance company if they would set up a direct bill with the rental car company and they said it was too much of a hassle. Is this legal?

Yes, they are NOT required to directly pay the rental car company.

Unfortunately with your age, the vast majority of rental car companies won’t rent to you. Your best bet is to call a little hole in the wall place, or ask the dealership where the car is being fixed, if they will rent a car to you, or give you a loaner.

claims paid during the past year…

Payment 0, 500, 1000,
2000, 5000, 8000, 10,000.

Probability .83, .06, .05, .02, .02, .01, .01
a. set up intervals of random numbers that can be used to generate automobile collision claim payments
b. using the numbers (.9850, .2122, .5590, .0004, .5177, .0064, .2044, .2390, .7305, .6351, .4971, .9569, .1091, .9907, .1900, .9403, .3545, .8083, .4704, .5274. )simulate payments for 20 policyholders. How many claims are paid and what is the total amount paid to the policyholders

Dear cherita,

a. You want your intervals such that a uniform random number between 0 and 1 will give you each of your seven outcomes with the stated probabilities. Thus, you need to divide the interval between 0 and 1 proportionally. This is easy to do just by cumulating the probabilities (i.e., adding them sequentially to determine where each sub-interval begins and ends).

Starting from 0 (the lower bounds of the first interval), add 0.83, which gives 0.83 as the upper bounds of the first sub-interval. This also serves as the lower bounds of the next sub-interval. Next, add 0.06, which gives 0.83 + 0.06 = 0.89 as the upper bounds of the second sub-interval (and the lower bounds for the third sub-interval). By continuing this procedure, you will have obtained the intervals you desire, mapped on the interval (0,1):

0.00 0.83 sub-interval 1 (claims amount 0),
0.83 0.89 sub-interval 2 (claims amount 500),
0.89 0.94 sub-interval 3 (claims amount 1000),
0.94 0.96 sub-interval 4 (claims amount 2000),
0.96 0.98 sub-interval 5 (claims amount 5000),
0.98 0.99 sub-interval 6 (claims amount 8000), and
0.99 1.00 sub-interval 7 (claims amount 10000).

Thus, when you draw a random number U, you determine in which of the possible sub-interval it falls, and that will correspond to a particular claims amount. For example, if U = 0.9765, you would see that 0.96 < U <= 0.98, so U would be in sub-interval 5, corresponding to a claim of 5000.

b. I just gave an example how to simulate any uniform random draw in the unit interval (0,1), so all you have to do is make a table using the list of numbers you are given, looking up the corresponding claim amounts for each. You can then answer questions on the total number of claims and payments to policy holders. Note that when 0.00 < U <= 0.83, there is no claim paid.

I currently have my business insurance with NationWide, AND it is the worst EVER, I need to switch to another insurance company that’s able to write business policy for both property and automobile.

Please suggest some good and reputable ones, thank you.

We could provide you more meaningful info if you let us know what state you are in. Not all companies write coverage in all states.

I was involved in an automobile accident almost two years ago and we have been trying to settle the claim. We mailed in the paperwork accepting there offer and it has been almost two months and we have not heard anything from them. I have called many times to check on this and everytime they tell me that I need to speak with a certain person and I leave messages and he won’t call me back. I was wondering if there was a certain bureau of investigation that I could turn this insurance company in to. They are very unperfessional and have not helped us in anyway. I would just like people to know how these people treat other people that they are supposed to be helping.

You contact your state insurance department – that’s the short answer.

If this is YOUR insurance company, you have a potential "bad faith" claim.

If this is the OTHER person’s insurance company, well, the insurance department won’t help you out, because the other person’s insurance has NO obligation to settle with you!! Which means, they might be stalling you long enough for the statue of limitations to run out, then not pay you a penny.

SO. You need to 1. check the statue of limitations in your state – see how long you can wait before you sue the other driver and 2. if it’s coming up soon, you need to call the other company, tell them that if you don’t have a check in hand 30 days before the statue of limitations runs out, you’re getting a lawyer and filing suit.

Also, you should pay a visit to your agent, ask them to intervene, and find out what the holdup is on this – get their take on it, so to speak. You’ve already paid them for their services, it’s time to call them in.

well an automobile company CEO was, should those brave men fear for their positions for speaking their minds?

After GM’s CEO firing by Obama, why not?

I think this (GM) was reported on all the stations. Fox wasn’t alone.

And you thought that Bush and Cheney couldn’t read the Constitution and had their own interpretation!!!!!!!!!

Is the reason they want you to quite your insurance company and switch to there’s because of the profit they make in selling you insurance or because they are really interested in saving you money? Are they thinking of you or their profit?
Is your auto insurance company a crook and cheating you out of your money?
If you switch to some other company, will you switch again the next time you see a different advertisement on TV?
Should the coverage protect regardless of age, occupation, area driving in, needed coverage at the same price in all states?

Every company is in the market to do business and make profits by increasing their customer base. More customers=more business. As the customers increase, the variable costs do increase but the fixed costs remain the same, leading to reduced cost of business. Thus bigger companies can afford to offer their customers bigger discounts. Take the example of The Hartford. It’s a huge 200 year old Insurance giant. With a sound base already established, they can afford to pass discounts and lower prices to their customers. The lower prices attract more customers in turn; more customers lead to lesser prices, so it’s a cycle! As long as an Insurance company is reliable in handling claims and giving you cost effective policies, it’s not cheating you. It’s making money out of honest business and adding to the National coffers as well!

You two better have a good car insurance company.

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