Insurance Question

[patrickt]

Unless you have something that looks like this:

The Company shall not compromise any claim hereunder without the consent of the named insured.

in your policy, the authority to settle claims is usually reserved to the insurer. And you usually only find consent to settle clauses in professional liability policies, like medical malpractice policies (not auto policies). Take a moment, read your policy, and see if you can find something that, instead, looks like this:

The Company, in its discretion, has the right to investigate, negotiate and settle any suit or claim.

One way or another, the answer is in your policy.

[jhv48]

Yer Dugliness,
First of all, comprehensive insurance covers fire, theft or vandalism to your vehicle. Collision coverage covers damage to your vehicle by you or another party subject to your deductible. Liability coverage will pay for damage to another person or property if the accident is determined to be your fault. So, if you didn't have comprehensive coverage, it would have no effect on this claim. If, you mean that you have no collision coverage, then you're responsible for all repairs to your vehicle in the event of an accident and your insurer, since they had no loss due to your accident not being covered, has no dog in this fight (unless another vehicle is involved and damaged and you are deemed at fault by both the accident report and your insurer) They cannot represent you to get your vehicle repaired if there is no pay out. THEY have no loss to recover.
So, your only recourse is to get ahold of the accident report and evaluate it to see if you have a case against the other driver. If so, then your first recourse is to file a claim with the other party's insurer. If they refuse to accept liability, then you can file against the other driver and either take them to small claims or, if damage is more than $5000, call an attorney.
And, if the accident is in fact your fault, suck it up, accept responsibility and move on.


And, why in the heck are you driving a cobra without comp or collision coverage?

[Ron61]

One other thing that won't have any bearing on this. Get a dash cam. I always have mine on when I am driving my Cobras and the insurance companies out here are encouraging people to get them for their daily drivers. Also always check your policy and ask the company just what is covered and what isn't. I have a full value replacement on both of mine but the way prices keep going up that wouldn't replace either of them.

Ron