Quote:
Originally Posted by pilotbob
Right.!!
But, I thought that all insurance companies paid a claim and then went after the libel individuals insurance to get a reimbursement. I didn't know that USAA was unique in that.
(Does them being privately held and semi-closed membership have something to do with that? Or are they just AAA rated for a reason?)
BOb
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AAA rated has more to do with the soundness of their investments and the general fiscal stability of the company. Although, it does say a lot about how (and whether) they pay out on claims made.
No, all companies do not pay out on an entire claim and then go after the other insurance company. For example, I got a letter from GMAC shortly after the accident telling me exactly what they had me covered for. That's what they pay out on. It's up to me to either sue the truck company or make a claim against their policy for coverage on the rest of it.
It's nice that USAA does that. Super, in fact. But most insurance companies do not. I rather think the policy arose from the fact that they were insuring military men and spouses. I mean, what kind of company would expect the deployed head of the household to spend his time trying to sue the driver that mangled his stay at home wife? Granted, the world has changed a lot ... but that would have been the world on which the company's original policies were founded.
And, kudos to them for that ....