Chicago, Illinois (PressExposure) January 31, 2009 -- A theft claim was recently denied by the United Equitable Insurance Company after their company investigation revealed the vehicle was used as a rental car before being purchased from a Chicago dealership.
The exclusion in the insurance policy states "no coverage is provided for theft if keys are left in or on the vehicle" The only keys issued to the owner were turned over to the insurance company.
The denial relieved the insurance company of all financial obligations and the vehicle owner became the party responsible to the finance company for the $20,000.00 debt. Although, insurance premiums were paid three policy terms without lapse.
A complaint was filed with various Illinois consumer protection agencies without resolve. A copy of the claim and mail delivery confirmation receipt was presented, but the insurance company continued to deny receiving the claim the first three months, then keys became the reason for the 120 day delay and denial.
The insurance was acquired through a insurance brokerage agency, Great Northern, that may have been promising low rates and excellent coverage to close the sale and receive their broker's fee.
The economic crisis continues to effect each household when companies make unjust decisions that victimize honest working citizens and destroy the family finances.