general insurance company questions - Saab General Bulletin Board - Saabnet.com
The banner above is an advertisment - if it asks you to download software, please ignore.
Site News -
4/9 Saab Owners' Convention Day Pass Raffle |
3/26 M Car Covers (by State of Nine)
[General |
Members |
C900 |
9000 |
NG900 & OG93 |
93 |
95 |
NG95 |
99 |
Sonett |
Vintage Models |
Clubs |
Other Cars |
FAQs |
Gifts |
Member Photo Galleries |
Member Directory |
Classifieds |
Manuals |
*Buddy Registry |
*Mileage Registry |
Polls |
What's New |
Raffle |
Photo of the Month |
Sponsors]
[Main General Bulletin Board | BBFAQ |
Prev by Date | Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
general insurance company questions
Posted by James [Email] (more from James) on Mon, 25 Jan 2010 07:03:45
In Reply to: Time to become educated, nwas, Sun, 24 Jan 2010 15:41:48
Members do not see ads below this line. - Help Keep This Site Online - Signup
I've got to say, I really don't understand insurance companies very well. I understand they want to make money + are quite good at it.
The big thing I don't get, is the repair/replacement part of the insurance cost should be linked to the value of the car. Cars depreciate, so if you're in a collision + a write off, you get paid what it was worth on the market (ie to replace with "the same", never mind there is some additional value in a car you know the history of vs a car you don't)... If that's the case, why doesn't the amount I pay in insurance *decrease* every year in step with the depreciation of the vehicle?!? If it doesn't decrease, then aren't I paying a premium based on a new vehicle, and shouldn't I get a *new* replacement vehicle (of the same model/brand)? Obviously that wouldn't work (would be more insurance fraud)... but why don't premiums drop? Conversely, why won't they allow me to pay a higher premium if I want (eg for an older classic) based on a fixed level write off cost? Ie they assume I won't repair a 17 year old car, but I might want be able to... I suppose fraud could come in there (I guess need appraised classic value?)...
I guess the other thing I wonder about is, isn't there an incentive for insurance companies to want to write off a vehicle if it's anywhere near close? If the cost is $5700 to repair vs $6000 replacement, isn't it in their best interest to write off + make a profit on the salvage? Or is the write off level the replacement cost - salvage value? How much can you legally take out of the car after a collision? obviously that affects salvage value!
lots of gray areas... lots of stuff I guess I just don't get...
James...
posted by 67.158.75...
Posts in this Thread:
- Beloved hazelnut 2002 93 SE, jonathan, Sat, 23 Jan 2010 20:26:38
- Depends if it is just body panels or lots more, Mark Anderson, Sun, 24 Jan 2010 21:05:21
- Time to become educated, nwas, Sun, 24 Jan 2010 15:41:48
- Most importantly, glad that you're OK....., Herb Hirsch , Sun, 24 Jan 2010 13:43:06
- Re: Beloved hazelnut 2002 93 SE picture, jonathan, Sun, 24 Jan 2010 07:20:41
- Re: Beloved hazelnut 2002 93 SE, SeeVTSaab, Sun, 24 Jan 2010 05:40:46
- Did your insurance company assess the damage yet?, B Millar , Sat, 23 Jan 2010 21:07:00
Members do not see ads below this line. - Help Keep This Site Online - Signup
Post a Followup
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
StateOfNine.com
|
SaabClub.com
|
Jak Stoll Performance
|
M Car Covers
|
Ad Available
|
Random Saabnet.com Member Gallery Photos (Click Image)
This is a moderated bulletin board - Posting is a privilege, not a right.
Unsolicited commercial postings are not allowed (no spam). Please, no For Sale or Wanted postings, SERIOUSLY.
Classifieds are to be listed in The Saab Network Classifieds pages.
This is a problem solving forum for over 250,000 Saab owners, so expect to see
problems discussed here even though our cars are generally very reliable. This is not an anything goes
type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the
Saabnet.com Mission and Purpose Page. Please remember that you are
not anonymous. Site Contact | Site Donations | Other Sites by SP -
Poverty2Prosperity.org | Run Club Menlo Park | ScreenBot
Site Members do not see red text instructions, bottom of the page anchor ads, or box ads.
Click here to see all
the Site Membership Benefits!