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MikeyMike01 t1_jefqinu wrote

Reply to comment by 84740296169 in Is this normal after an accident? by Impossible-Cry-495

Nothing about insurance is ethical

They charge exorbitant premiums then do everything to avoid paying claims

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84740296169 t1_jefr72a wrote

I would disagree. Consumer-Facing insurance like Personal Auto and Homeowners is very regulated on how much they can charge and what is covered.

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garrettj100 t1_jefxa3s wrote

Are there regulations against insurance companies encouraging OP to commit insurance fraud? Seems like there oughtta be.

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Mayor__Defacto t1_jeg0jb7 wrote

They’re not encouraging OP to commit insurance fraud. They’re encouraging OP to break their own contractual relationship with their insurance company, but that isn’t fraud.

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stlhockeyman777 t1_jegs5pb wrote

What do you mean “by encouraging them to break their contractual relationship with their insurance company?” The presumed at-fault party’s insurance company is encouraging OP to utilize that contractual relationship with OP’s insurer…..albeit as a way for at-fault insurer to gain some advantage themselves and save money or hassle.

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Mayor__Defacto t1_jegx512 wrote

Well, your contractual relationship with your insurance company says that as part of your contract with them you agree not to accept settlements on their behalf. They’re encouraging OP to essentially take $500 so they don’t have to pay their deductible, and then go to their insurance filing a claim with the caveat of “I have already accepted a settlement regarding this matter and as such you cannot pursue the opposing party’s insurer for compensation”

And so your insurer will then cover your damages per your collision policy, but then they’re going to go ahead and raise your premiums (or just drop you).

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garrettj100 t1_jegnsqr wrote

You should explain that to OP's insurance company. I'm sure they'll be very receptive to that argument.

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Mayor__Defacto t1_jegxkew wrote

I know exactly what they’ll do if OP takes this offer. They will cover OP’s damages per their collision policy, and promptly tell OP that they will need to find a new insurer, because they will no longer do business with OP.

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