msmith1199 wrote:
Dog Folks wrote:
I did not make my post to start a discussion about the interpretation of a contract. That is for lawyers. Or the proper use of a semi colon, although some here should research what it is used for.
I posted to point out that insurance companies make money by collecting premiums and reducing pay outs on claims. The difference between the two is called profit. They will try to reduce or deny every claim that is made. It is what they do.
It appears that some here think the insurance company is your friend. They are not.
Insurance companies are legally obligated to pay valid claims. They may cancel your policy after they pay it, but they have to pay. And if the payment is going to be more than your policy limits (like may happen here) they will attempt to negotiate a settlement for you with the claimant as they are still on the hook for legal representation (generally) even after the policy limits have been paid. Now this particular accident happened in Canada so I have no idea if their rules are different or not, but I would imagine they are similar.
Being in Canada could open a whole new can of worms. Not an insurance expert, nor do I claim to be,. but I have experienced some of these issues in life.
They still will look for any legal loophole to avoid the claim. Some policies exclude the cost of defense also.
