Legal Question in Insurance Law in Iowa
Automobile Accident
I was in a accident 2yrs ago in July. The accident was my fault due to road conditions, but I was not given a ticket. My car was totaled and I had some minor injuries, so the insurance company settled with us for the car and doctor bills. Now they have discovered they didn't realize we had replacement value insurance and when they settled with us they didn't pay us at that rate. So now they are offering a small amount with a little interest but it looks like they are deducting a deductable which we already paid the first time. So we are wondering if we have to pay another deductable and how do you know what offer amount to consider resonable?
1 Answer from Attorneys
Re: Automobile Accident
What they should pay you is the full difference
plus interest at the market rate for two years.
No deductible is due - you already paid it and
there is only one deductible per loss.
What prompted the insurer to tell you the "truth"
that they didn't properly handle your original
claim? This is rather unususal - is your state
insurance commissioner investigating them? Or,
is there a class action/unfair business practice
suit against them which triggered this disclosure?
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