My 350z was leased through chase and i was just informed that my collision on the insurance was dropped 3 months before my accident. Now the insurance company is denying the claim. The secretary at my dad's office is the one who canceled it. Is it not true that if she doesnt have a letter of authorization that it isnt valid. I also heard that chase will try to go after the insurance company and force it...i need feed back im very worried.

 

if u didn't have coverage, there's not much you can do. they would not cancel it if it was not done by an authorized person. plus since it is a leased vehicle, you are required to carry collision on the vehicle.....I'd talk to your dad about it more thouroughly.

 

+1 just deny it and continue to. bastards.

 

I think 3 things would of happened here...

1)that someone such as your Insurance Company would of notified whoever's name is on the loan/policy of the change in Coverge.

2)IF it was dropped 3 months ago rather it be leased or not, the Florida Department of Motorvehicles in Tallahassee would of sent you a notice stating their records indicate you no longer have insurance and you would have 30 or so days to provide proof of new insurance before they suspend your license.

3)Like mentioned above, if your vehicle is leased or being financed by anybody, you are required by Florida Law to carry Full Coverge...so having only part of your Policy changed doesnt seem like it can be done...only cancelled. Also, the insurance company I believe usually has to report the changes to the lender. For instance, if your car is being financed through a bank and you dont have Full coverge, the bank usually add's a hefty 1k+ charge onto your Loan to cover your insurance.

 

All of this varies.

If the car is leased, who leased it? Is it under a business lease through your fathers office?

Ask your AGENT to show PROOF. Ask for a copy of the SIGNED letter canceling the collision coverage.

Also, I believe, if the vehicle has a "Secured" Interest (Chase in this case), and that intrest (usually leinholder) is noted by the insurance company, than the insurance company is REQUIRED to notify them (CHASE) that collision insurance has been dropped (not sure about this though). At this point, CHASE would provide insurance to protect there INTREST in the property @ a market rate (USUALLY VERY EXPENSIVE). This is how it's supposed to work.

My reccomendation:
Go visit the State of FL Dept of Insurance. They are located @ Fowler & 56th st. They are free, and will help you. I HIGHLY RECCOMEND THIS.....BEFORE YOU DO ANYTHING ELSE. Also, take ALL your documents with you.

Charles

 

If the agent "messed up", either by not notifing the secured intrest party, or cancelling the policy without an authorized approval, than it gets messy. An investigation ensues, and a claim might be filed against the agent under their "Errors and Omissions" policy that ALL agents are required to carry.

Expect things to get messy....very messy. After I filed a claim that went to errors and ommisions, I had to find a new agent, this was after my agent cussed me out and asked me to leave his office. They don't like E & O Claims....

Charles

 

Which Agency and Carrier do you use?

I have Siebert (agency) and Nationwide (Carrier). I like them....

Charles

 

Like Rice Rocket said..

Ask for copies of the cancellation.. also ask for proof of mailing. Insurance companies have to keep copies of the mailing with a postmark from the post master to show who it was mailed to. They are only required to mail it to the last known address.

Usually the lien or lease holder is named on the dec sheet of the policy so they are afforded additional coverage i.e. they may cancel your policy on say the 30th but give the lease/lien holder an extra 45 days of coverage. This may not be the case if you or someone cancelled it on your behalf. A lot of these things only apply to company cancellation, meaning they cancelled you. If this was the case and they pay the lease or lien holder the the insurance company also has right of reimbursement against you in most cases.

If it is a lease then Chase would have notified you that they are taking out insurance if you dont and they will then bill you for it, so you may want to check to see if that was done. Good luck.

 

Collision coverage isn't mandatory by the state, so he would not get a letter from the DMV stating there isn't insurance. He should have received a revised Declarations Page from his carrier (you automatically should receive one anytime any kind of change occurs).
Also, most times the insurance companies don't even have a correct address listed for your lender (most use insurance tracking centers), so they never even get notice of your initial insurance or any changes, or cancellations.

 

But collision coverage is manditory when you have a leased vehicle.