I am a victim of a theft/ID fraud case which occurred in October 2013. My question is the impact on my premium would be calculated by number of claim only, or also amount. With the same criminal incident, I lost a valuable goods, and large number of legal cost to recover the title of the automobile which was fraudulently transferred. Here is the details. The valuable item about 4000 dollars was stolen, as well as the title of automobile was stolen along with the car. The car was sold with forged signature at the auto tag place. The tag place apparently neglected to verify the ID of the criminal, let the transfer of the title happen. The buyer who paid the criminal in cash, refused to return the car to me after police notified about the incident. The police issued the arrest warrant to the thief who fled out of US. In order to recover my car, I had to obtain an attorney to sue the buyer, and the auto tag place. The legal cost already passed 10000, while the buyer continues to refuse the return of the title document, even after the police ordered her to return the car. (the car is now under police custody). The tag dealer refused to take any responsibility. As my legal cost accumulates to the burden, I am wondering whether I would file this expense which is related to the incident or not. Since I saw the hike of my premium after the claim of the loss of goods, I am very concerned that another filing would damage further my profile, although the legal cost took huge toll already, and I am in depression. I asked an agent about filing, and told that she is ready to process the claim under the same case ID. While, she could not tell what would be the impact of the filing. So I called another department agent to find out. This underwriting agent said that my premium was already impacted by one claim and remains for next 5 years. She stated also that since this possible filing is under the same claim ID, there will be no double impact on my premium, and that they will not consider by the amount of the loss, but number of the claim/case. I am still skeptical about what the agent said, I would like to have expert answer. I use the same insurance company for all - auto, homeowners. After the sharp increase of homeowner's insurance premium, I raised my deductible from 1000 to 3500 to lower to where it used to be. Loss of the car was not claimed since the car was found, and custody of the police now.

About The Expert

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. She co-founded United Policyholders in 1991 and serves as the organization's Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous publications including "The Disaster Recovery Handbook", "WISE UP: The Savvy Consumer's Guide to Buying Insurance" and consumer tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach is in her eighth consecutive term as an official consumer representative to the National Association of Insurance Commissioners, and is a member of the Federal Advisory Committee on Insurance.