Insurer Refuses Full Compensation of the Damage

The document titled 'Insurer Refuses Full Compensation of the Damage' is a letter written by an individual to an insurance company regarding a claim for damage caused by a fire. The letter begins with the account holder's personal information, including their first name, last name, job, and company. The current date is also mentioned.

 

The letter is addressed to the insurance company and expresses the account holder's disappointment with the compensation offered for the damage. It mentions that an inspection was conducted by a person named 'name' who confirmed the extensive damage. However, it is stated that a significant portion of the damaged stock was either obsolete or obsolescent.

 

The account holder explains that they cannot accept the amount mentioned in the insurance company's letter as a fair estimate of the loss. They argue that the figure is based on the actual cost of the goods, whereas their own estimate, based on present market values, does not exceed a certain sum. Despite considering their valuation generous, they are willing to settle the claim for the value of the stock lost based on this amount.

 

The letter concludes with a request for the insurance company to confirm whether they accept this settlement offer.

 

In summary, the document is a letter that highlights the account holder's dissatisfaction with the insurance company's compensation offer for the fire damage. It provides details about the inspection, the nature of the damaged stock, and the account holder's proposed settlement amount.

How to use this document?

1. Provide personal information: Begin the letter by including your first name, last name, job, and company. This ensures that the insurance company can identify you as the account holder.

2. Express disappointment with compensation: Clearly state your disappointment with the compensation offered for the damage caused by the fire. Mention that an inspection was conducted to confirm the extent of the damage.

3. Highlight obsolete/obsolescent stock: Explain that a significant portion of the damaged stock was either obsolete or obsolescent. Emphasize that this should be taken into account when assessing the value of the loss.

4. Reject the offered amount: Clearly state that you cannot accept the amount mentioned in the insurance company's letter as a fair estimate of the loss. Explain that your own estimate, based on present market values, is lower.

5. Propose settlement amount: Offer to settle the claim for the value of the stock lost based on your own estimate. Mention that you consider this valuation generous.

6. Request confirmation: Conclude the letter by requesting the insurance company to confirm whether they accept your settlement offer.

Note: It is important to maintain a professional and polite tone throughout the letter.