>On an unrelated topic, on 6/27, Phil LeBrun wrote that we should get our
cars appraised to avoid hassles with the insurance company in case of loss.>
I guess this is my soapbox week....but what the hell.
While I agree with Phil that appraisals are a good idea, they by no means
guarantee freedom from hassles with your insurer in the event of a loss. But
at least havina an appraisal in hand is better than not having one.
>Both my
current insurer (St. Paul) and former one (State Farm) simply asked how
much I wanted to insure the car for, and I told them. They also asked for a
comprehensive set of photos. They then set their policy price accordingly.>
Read your policy carefully........if you can decipher all the doubletalk.
While this value is used to determine policy prices, it is primarily used to
establish an UPPER limit of what the insurance company MIGHT pay. ( And I
emphasize "MIGHT". ) Say if you get an appraisal for $10 k. and your
insurance company sets the rate they charge you on that value, the fine
print usually states that in the case of a loss, they'll pay you $ 10 k or
less, whatever the value is at the time of the loss. Sounds very subjective
to me........ to their advantage.
Most insurance agents are no help. They're hot to trot when it comes to
writing policies and collecting premiums. And they'll most definitely
assure you that they'll "treat you right" if something happens, regardless
of what's in print. But I suspect in the case of a loss, and particularly
if there's a dispute over value, they probably disappear under the nearest
rock, all the while mumbling stuff about" what's in prin"t, and" reading
your policy", and such.
> I've not had a claim, so I don't know if I would have a problem, but I
expect that if I had a total loss, (say car was stolen...hope not...knock on
delaminated wood dash!) they would pay the full
amount. Am I wrong?>
Ahhhh. The acid test. They might pay........then again might not..........
The problem is, you never REALLY know until you're in that
situation.....and by then it's too late if your Company/Agent isn't on the
level.
Hey Mario. Where in columbia are you located ??
Rick Fedorchak
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