Allianz with the Devil
11-11-2004, 07:43 PM
"David Z" <dave@bigpond.com> wrote in message
news:Oo3kd.30422$K7.16388@news-server.bigpond.net.au...
>I have an idea. Why not buy a really cheap old shit box, like a Falcon or
>Commodore. Insure it for like, $5k more than its worth. Then leave it
>parked 24x7 in the worst slums / suburbs, where its *bound* to get stolen.
>But of course, you have it locked up, so its not *your* fault it got stolen
>is it? ;) Ka- ching... $5k richer. Thoughts?
Thats why they buy another one equivalent of what you had to replace it.
Its in the fine print.
>
> "Allianz with the Devil" <Allianz@hell.com> wrote in message
> news:4190bf64$1@grungy...
>>
>> WRT to insurance, "Agreed value" insurance is not really that.
>>
>> What happens is that you get a repaired car, but due to the poor quality
>> of repairers in general, the true value of the car you get back will be
>> far less than before the incident.
>>
>>
>> Its better to ask them to pay our a lesser value as a write off than to
>> get them to repair it.
>>
>>
>> Another way to say that is you should try to get the agreed value to be
>> quite low.
>> That way at the time of repair the insurance company will see that its no
>> use spending
>> $8500 to repair a vehicle you insured for $8000. (If you insure it for
>> $15000, then when its badly damaged, they will repair it and give you
>> back a vehcile worth $6000.. so its better to insure it for a lower
>> amount !)
>>
>> But why wont the insurance company agree to insuring it for a lesser
>> value ? They want the charge to everyone premiums for a vehicle at
>> absolutely maximal market value - premiums for a vehicle that was
>> mothballed since new.
>>
>>
>> If you can choose to insure at 'market value' then at least when the car
>> is worth only $8000 on the market, they will write it off, give you
>> $8000, and then you get to buy an undamaged vehicle as a replacement.
>> And the premiums are cheaper, so you dont lose twice over !
>>
>>
>>
>>
>
>
news:Oo3kd.30422$K7.16388@news-server.bigpond.net.au...
>I have an idea. Why not buy a really cheap old shit box, like a Falcon or
>Commodore. Insure it for like, $5k more than its worth. Then leave it
>parked 24x7 in the worst slums / suburbs, where its *bound* to get stolen.
>But of course, you have it locked up, so its not *your* fault it got stolen
>is it? ;) Ka- ching... $5k richer. Thoughts?
Thats why they buy another one equivalent of what you had to replace it.
Its in the fine print.
>
> "Allianz with the Devil" <Allianz@hell.com> wrote in message
> news:4190bf64$1@grungy...
>>
>> WRT to insurance, "Agreed value" insurance is not really that.
>>
>> What happens is that you get a repaired car, but due to the poor quality
>> of repairers in general, the true value of the car you get back will be
>> far less than before the incident.
>>
>>
>> Its better to ask them to pay our a lesser value as a write off than to
>> get them to repair it.
>>
>>
>> Another way to say that is you should try to get the agreed value to be
>> quite low.
>> That way at the time of repair the insurance company will see that its no
>> use spending
>> $8500 to repair a vehicle you insured for $8000. (If you insure it for
>> $15000, then when its badly damaged, they will repair it and give you
>> back a vehcile worth $6000.. so its better to insure it for a lower
>> amount !)
>>
>> But why wont the insurance company agree to insuring it for a lesser
>> value ? They want the charge to everyone premiums for a vehicle at
>> absolutely maximal market value - premiums for a vehicle that was
>> mothballed since new.
>>
>>
>> If you can choose to insure at 'market value' then at least when the car
>> is worth only $8000 on the market, they will write it off, give you
>> $8000, and then you get to buy an undamaged vehicle as a replacement.
>> And the premiums are cheaper, so you dont lose twice over !
>>
>>
>>
>>
>
>