I agree with the sentiments expressed, but there are exceptions to the
"insurance companies are out to screw you" rule. We've carried both our
automobile and household insurance with Motorists Mutual for years. We've
been offered (slightly) lower premiums from other insurers, but we've had
two claims with Motorists (one burglary, one totaled car). In both cases
the claims were settled within a week, at FULL replacement value, no
hassles.
That's the advantage in going with a "mutual" insurance company. The
policyholders generally are the stockholders (complete with voting rights),
so there's no outside party to try to make a profit for. They tend to be
more responsive to their policyholders.
Usual disclaimers: I have no financial interest in Motorists (aside from
the fact that it's a mutual insurance company), blah, blah, blah.
Chris Kotting
ckotting@iwaynet.net
-----Original Message-----
From: Jay Quinn [SMTP:jpquinn@cyberramp.net]
Sent: Wednesday, December 10, 1997 9:42 AM
To: ctp; mgs@autox.team.net; healeys@autox.team.net;
british-cars@autox.team.net; spridgets@autox.team.net
Subject: Re: Insurance Info...Please Read!!
Well, the Insurance told us the other day that the car IS totaled.
>From what I understand from several people on this list, as well as people
around where I work, this is a very common practice with Insurance
companies. What else , right?
It's their job to collect premiums, not give any money out. So when it
comes to that time, they keep the purse strings pretty tight.
We have armed ourselves with Consumer Reports Used car prices, Newspapers
car ads, Dealership quotes, Pace used car reports, and Edmunds.
Our policy is full replacement value. That means, what ever our car was
worth at the time of theft, is what we get. AND, not to forget to include
the TTL figure to be added to what the car was worth, over and above. In
theory, we get all the money it will take to buy an exactly copy of the car
we had from a dealer, once again.
Now having said that, thats the tough part when dealing with insurance
companies. They have't met my wife yet. :)
We simply won't take anything until they live up to the letter of their
policy. Full Replacement Value. We have done an extensive amount of
homework on that car. This means we will have a car picked out indenticle
to what we had on a lot with it's price tag matching what we had stolen.
We have found a couple real close, but we are still looking. Having done
that and armed with written documentation of many other used cars prices...
They will have to live up to it, or we don't accept.
This has been one big pain in the ass.
Car insurance has got to be the dirtiest business, just below used car
salesman.
Q
--
Jay Quinn - Business Systems Analyst
Personal Email: jpquinn@cyberramp.net
Work Email: jay_quinn@bcbstx.com
2 Way Pager Email: 9120238@skytel.com
http://www.cyberramp.net/~jpquinn/index.htm
1962 Austin-Healey Sprite MKII HAN6L2874
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