insurance scam or pet peeve you decide!!!

[ttpowersports]

heres a pet peeve i have.... we just dont realize it.... ponder this and ask your insurance company to explain it to you...
so you buy a car for say 35000. in say 2009...your insurance bill is say 1000.00 yr, you pay basically the same every year till 2011 plus afew mere dollars here and there for extra charges, then say you get into an accident of one type or another, the car is written off. wow good thing you have insurance right!!!-
Heres where it gets fun.... continued.....
Now you find out that your car is only worth 23-25000 in todays market so thats all your being offered....hmmmm... back up ... im paying the same amount as i was (maybe a bit more) when the car was purchased.... so if my car value went down
in value shouldnt the insurance premium have went down as well, cause otherwise we are all paying a premium that is based on the original amount hmmmm......

of course the same thing applies to our homes , sleds. atvs and anything else we pay insurance on..........

oh ya....happy friday.

 

[Summitric]

Hmmmmmmm, our insurance will pay you what the vehicle was worth new in 2009(35,000), even though the same vehicle might be worth 45,000 in 2011 when it was written-off.......... You might check deeper into that, terry.....................jus' sayin'

 

[Rhodesie]

Just went through this Terry, our ins premiums are now $1000.00 cheaper than last year. We hit them every year to either do better or see you later!

 

[ttpowersports]

Hmmmmmmm, our insurance will pay you what the vehicle was worth new in 2009(35,000), even though the same vehicle might be worth 45,000 in 2011 when it was written-off.......... You might check deeper into that, terry.....................jus' sayin'

you can get replacement value insurance but its big bucks... well im all for getting paid what its worth when you buy it.... but i have had the
privilage of dealing with lots of customers who get the "shaft" and had my own dealings and your never on the right side of the deal. imo... i cant believe your insurance will pay you that? are you sure?.....maybe you should share your insurance info...

 

[ttpowersports]

Just went through this Terry, our ins premiums are now $1000.00 cheaper than last year. We hit them every year to either do better or see you later!

and they should do better... they are insuring something cheaper every year.... just be fair..

 

[-LadyDirt-]

I had a similar story too, I wrote off a brand new 40k SUV, and although it wasn't a quite a year that I had it, insurance paid me out the amount on the bill of sale, but I think this has something to do with the insurance on new vehicles, complete coverage or something like that, if they are financed through the dealership/bank? lol. Good point though, basically our insurance premiums should be dropping all the time as our vehicles depreciate, makes sense to me! lol I can't complain though I pay 900/year for a 2 year old Tacoma, and I haven't even turned 25 yet

 

[ttpowersports]

thats a good deal... the ladies are usually cheaper cause you dont drive crazy....like us....right....lol, you are right on a new vehicle you can get replacement insurance....

 

[intmid8or!]

had replacement ins for 30 months on all new vehicles we have purchased, dont think it added too much to premium either. never had to use it, so cant say how it would go down if you needed it

 

[Murminator]

I'm with ya Terry I have complained about that for years each year it depreciates more yet my insurance seems to go up couple dollars every year now I drive a 7 year old truck and pay more for insurance than what it was new....and you can image how much they would pay out if I wrecked it tomorrow

 

[buck50]

had replacement ins for 30 months on all new vehicles we have purchased, dont think it added too much to premium either. never had to use it, so cant say how it would go down if you needed it

that's basically how mine works too. i get 3 years full replacement cost, on NEW vehicles only. after that, blue book value

 

[sunshinesmiles]

that's basically how mine works too. i get 3 years full replacement cost, on NEW vehicles only. after that, blue book value

Same as us. Only we also chose to pay a bit extra for our trailer as bought it brand new for $58,000 as company bankrupt, but replacement is $85,000

 

[Iron Horse Racing]

Replacement insurance for vehicals on new was only an extra $10.00 a year but now I'm going to go and look up for how long, I was under the impression for as long as we owned it???

No answers just more questions.....

 

[new_nytro]

Its called a limited waiver of depreciation and its real cheap but it only covers a new vehicle for 3 years after purchase.

 

[Cyle]

Tell me this. Why is a 2500 pickup so much more then a 3500? For full coverage the same truck just with one different number is $1500/year more the collision is DOUBLED. It ain't worth more, it ain't more money to repair or anything.

I was told the price comes from how many on the road, cost to fix, and how many accidents but it's still BS.

Insurance companies are gonna screw you over anyway they can though.....