11-01-2007, 11:38 PM
Apoc Wrote:You're assuming the $12k is automatic, in most cases, it isn't. Being underwritten for the amount is not proof of value. What we're saying is the insurance company will require that Person B prove the value of his car was $12,000 before they pay on that. Insurance companies don't just pay what the policy is for, they require proof that you lost that amount. When the car is worth $12k and it's missing or destroyed, they have that proof. When the car is worth $2k and there is an unsubstantiated loss of $10k, you need to prove that $10k... with receipts.
then the insurance company is stealing your money.
you are paying premiums on a $12k car. that is my point.
the insurance company cant come back and say "we know you have been paying your premiums on a $12k car but we arent going to pay out what you have been paying in" they took your money on that $12k, they are (or should be) required to pay their part of the bargain.
i understand what you are saying, but we are talking about a total loss for the policy, not a fender ding which of cousrse is a fractional loss