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IMTR bouncing off of 50 RSI today. Based earlier and is picking up momentum.
-------------------- Analysis of stocks are my opinions, do your own research on stocks, don't buy/sell on my analysis. Posts: 25 | Registered: Feb 2006
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Repair shops overwhelmed by hurricane-damaged vehicles from Wilma
By Mc Nelly Torres South Florida Sun-Sentinel Posted February 17 2006
It took four hours to remove the large tree that fell onto Cheri Asher's silver RAV4 Toyota when Hurricane Wilma plowed through South Florida.
But it took almost three months to have the damages repaired - replacing most of the windows, front lights and the hood - after the insurance company processed her claim, issued a $6,300 check and the auto body shop began the work.
" I drive for a living," said Asher, a Pompano Beach real estate appraiser, whose insurance policy only covered a 30-day car rental while her Toyota was being fixed. Although she appealed, and got a two-week extension on the policy, Asher spent more than $1,200 on her rental before work on her SUV was completed Jan. 20.
Wilma's winds damaged thousands of vehicles in South Florida and many consumers are still waiting to have their cars repaired.
About 225,000 auto claims were filed in Florida after the hurricane last year, according to Property Claim Services, a unit of Insurance Services Office Inc., a private corporation whose clients are insurance companies.
That's up from the 180,000 vehicle claims filed in Florida in 2004 for damages caused by Hurricanes Charley, Frances, Ivan and Jeanne, according to a report by the Florida Office of Insurance Regulation.
South Florida auto body shops are reporting weeks- and months-long waits for repairs. Insurance-covered rental car contracts - in most cases limited to 30 days - have expired for many South Florida motorists.
" We know there's an incredible backlog, but not because the insurance industry is dragging their feet," said Sam Miller, executive vice president of the Florida Insurance Council, a trade group that represents insurance companies. " [It's] because repair shops are overwhelmed."
The backlogs have forced many consumers to reach into their pockets to cover rental-car costs that extend beyond the standard 30-day insurance policy.
Consumer advocates said consumers have few options: wait your turn, drive the damaged car (if possible) until your number comes up or find a repair shop outside the area.
" There's no answer as to why this happened. Some [of the problem] has been caused by the insurance companies, but also by the lack of workforce," said Larry Kaplan, assistant director of Broward County Consumer Affairs Division. " This is abnormal but we are a huge community and our auto body shops can't handle the volume of work."
Florida Department of Financial Services records show Florida consumers filed 330 complaints in 2004 and 2005 against insurance companies relating to auto repairs issues, including delays in issuing reimbursement checks for repairs. Fifty-eight complaints were filed in Broward County last year; Palm Beach County vehicle owners filed 23 complaints.
Although it's common for consumers to experience delays in insurance claims after a natural disaster like a hurricane, insurers have 14 days to acknowledge a claim once an adjuster has completed an estimate, under a new state law.
" If you have not seen an adjuster after a couple of weeks of filling your claim, you need to call us," said Tami Torres, a spokesperson for the Florida Department of Financial Services (1-800-227-8676)Ö. " We will mediate on your behalf."
Asher, 53, blames Allstate Insurance for the three-month delay on her car's repairs. The adjuster did not call and authorize the repair shop to begin work as he promised, she said. And the repair shop would not start work without a written statement from the insurance company.
But Allstate officials have denied any wrongdoing. Ryan Priest, a spokesman for Allstate, said once the insurer has chosen a repair shop and the check is issued to the insurer, the vehicle's owner is responsible for what happens after that.
" After a catastrophe of this size there's going to be a challenge to have enough people to handle the auto repairs," said Priest. " It usually takes longer for an auto claim to be processed."
Priest said insurance companies have tried to process claims quickly. But the scope of Wilma's damage, mail delays and in adequate manpower in the car-repair industries have contributed to the backlogs.
Robert Hunter, director of insurance for the Consumer Federation of America, said typical insurance claims should not take more than 30 days to be processed, but after a hurricane like Wilma delays up to 60 days are not unreasonable.
No one tracks the speed of repairs at the region's repair shops, but an informal Sun-Sentinel survey found waiting lists are common at many auto body shops throughout South Florida.
" We are a busy shop anyway, but we've been swamped," said Mike ÖTrosch, co-owner of Sunshine Auto Center at Pompano Beach in Broward County. " We have a waiting list until July."
Celeste Tate, manager of Boca Raton Auto Service in Delray Beach, said the shop is not taking any new customers until June.
" Some insurance companies are taking longer to process claims, and especially, if an adjuster needs to look at additional damages," Tate said.
Mark Hirt, 33, is still trying to find a shop to repair his car, which was damaged when hurricane winds knocked a basketball pole into his Infinity.
His regular car-repair shop has been too busy to fix his car and other operations he has called have also said they are too busy to do the repairs.
" All of them said they were not taking new customers," said Hirt, a computer consultant currently working in Doral.
Because Hirt's car had no engine damage, he has decided to wait until the current overcrowding at auto body shops dwindles.
Insurance officials said other motorists may do well to follow Hirt's lead, if they can.
" We are encouraging our customers to be judicious as possible before getting a car rental," Priest said.
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