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I had a really large move, putting most of my household goods in storage, paid for full replacement value insurance. Long story short, when it came time for delivery, about 14 pieces of furniture and 20+ boxes of clothing, etc. My claim form was six pages long. I thoroughly researched what each piece would cost to replace, gave a true estimate of the cost of other goods, and they sent me a 'settlement offer' for half the value. Of course I objected and the claims adjuster said, there was 'nothing she could do' and those were the amounts her manager approved.
Sounds like a crock to me. They would not respond to my objections and said take it to arbitration, which by the way is binding, although said to be indepedent. Anyone here done this and won?
What else can I do? Sue them? I really should after they callously didn't give a crap about my stuff, and then on top of it, deny my claim for the full replacement value. Why would they do that anyway, if anything I was conservative in my claim. It was still a fraction of the entire value of the shipment so why should they care and not pay in full? Appreciate any advice on what to do.
Last edited by LVKim8; 01-20-2017 at 11:57 PM..
Reason: Correction on arbitration
Is your replacement estimate based on what it would cost to buy new replacement items or used items similar in age and condition to what was lost? Does the fine print of the insurance contract say it pays to replace lost items with new items or some estimated value of lost items. Do you have any pictures or other proof showing the condition of the items lost. I would ask them to provide a detailed statement saying how they came to the value of each item lost. Perhaps if they see that you are not going to just go away they might become willing to payout more
If the moving company is affiliated with a national moving company I would try contacting them. If they refuse to get involved then I would take everything you have done and check with your local TV station or newspaper and see if they have a consumer advocate who would be willing to get involved. You might go online and see if there is anyone that blogs about moving issues. Sometimes they will get involved and fight for you. You might also contact the BBB.
Unless you purchase replacement value insurance, no one is going to pay that - not even your homeowners. That 5 year old couch you were moving? It's not going to be paid replacement value - unless you bought that coverage. And so on. You are being paid on the DEPRECIATED value of your items.
As far as "insurance lawyers" - they handle injury claims, and take 1/3 of your settlement. I wish I had a dollar for every unhappy claimant who told me they were getting an attorney to take us to the cleaners....and then crickets. Attorneys don't want to handle your low dollar value claim. There's nothing in it for them. Does the insurance agreement you signed indicate your remedy in case of dispute? Can you sue or do you have to arb? Yes, arb is heard by an independent third party who has been trained in dispute resolution.
"Long story short, when it came time for delivery, about 14 pieces of furniture and 20+ boxes of clothing, etc." - this thought is unfinished in your OP - the items were...lost/stolen/ruined??? What???
Unless you purchase replacement value insurance, no one is going to pay that - not even your homeowners. That 5 year old couch you were moving? It's not going to be paid replacement value - unless you bought that coverage. And so on. You are being paid on the DEPRECIATED value of your items.
As far as "insurance lawyers" - they handle injury claims, and take 1/3 of your settlement. I wish I had a dollar for every unhappy claimant who told me they were getting an attorney to take us to the cleaners....and then crickets. Attorneys don't want to handle your low dollar value claim. There's nothing in it for them. Does the insurance agreement you signed indicate your remedy in case of dispute? Can you sue or do you have to arb? Yes, arb is heard by an independent third party who has been trained in dispute resolution.
"Long story short, when it came time for delivery, about 14 pieces of furniture and 20+ boxes of clothing, etc." - this thought is unfinished in your OP - the items were...lost/stolen/ruined??? What???
Sorry, it was late when I wrote that. The moving company notified me that they could not find 14 pieces of furniture and 20+ boxes of clothing. So they are not disputing that they lost these items. I did buy full replacement value coverage - total value of the move was approximately $156,000. I am only claiming less than $20,000 on that, which is very conservative. Not my fault they chose to be careless with items that cost more than average. But they still want to cut THAT in half. It's absurd, the coverage is a scam if they want a receipt for every single thing you own, though I can provde most of it.
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