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Re: Cost of part replacement/labor doesn't change Posted by TML [Email] (#2212) [Profile/Gallery] (more from TML) on Sun, 11 Mar 2007 11:22:28 In Reply to: Cost of part replacement/labor doesn't change, sonique, Sun, 11 Mar 2007 10:30:54 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Yes, but as the value of the vehicle goes down, so does their maximum payout potential. With a $1000 car, the most they will ever pay is $1000. With a $20000 car, they will likely have to pay $2000 for a fender bender and it goes up from there. It doesn't make sense for the two cars to have the same collision insurance premiums.
Also remember, liability is a seprate coverage, so the injury lawsuits and whatnot do not apply to this discussion.
Automobile insurance is just legalised theft. It's not gambling as previously suggested, because it's not optional. They don't even let you on the road without it.
posted by 204.191.22...
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