Date: Wed, 31 Mar 2004 07:01:55 -0500
Reply-To: vw4x4@FYI.NET
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Eric Zeno <vw4x4@FYI.NET>
Subject: Re: collison insurance on 83 westy?
In-Reply-To: <BAY10-DAV31FAJki9IR0001b71c@hotmail.com>
Content-Type: text/plain; charset=us-ascii; format=flowed
NO WAY, your figures are way off!
Aristotle Sagan wrote:
> So let's get this straight...
>
> He can carry insurance for, say 300 bucks a year, and if the van gets
> hit it pays off at, say 8000 dollars. His rates then go up to, say 600
> bucks. Or he does not pay the 300/600 bucks and he pays out 8000 bucks
> or loses his van and everything he put into it when it's in an accident.
>
> Let's just say, I understand why he would pay the premiums.
> Financially, it's a no brainer.
>
> BTW - I am sorry you don't understand my analogies. Next time I'll use
> pictures.
>
> tim in san jose
>
>
>
> ----- Original Message -----
> From: vw4x4@fyi.net <mailto:vw4x4@fyi.net>
> To: Aristotle Sagan <mailto:killer_jupiter@hotmail.com>
> Cc: vanagon@GERRY.VANAGON.COM <mailto:vanagon@GERRY.VANAGON.COM>
> Sent: Tuesday, March 30, 2004 1:03 PM
> Subject: Re: collison insurance on 83 westy?
>
> What you fail to point out, is your driving record get marked, and
> YOUR insurance rates go up, depending on the amount of
> claim you have. No matter who insures you, your rates are
> going up if you have a bad record. You pay ether way...
> BTW ...You have some really poor analogies
> Eric
>
> Aristotle Sagan wrote:
>
>>So in this case, you are wrong Eric. Actuaries determine the possibilities
>>of an insurance company having to pay off and determine the premium required
>>for the insurance company to make money. It's not your money going into his
>>accident, it's the Insurance Company's.
>>
>>If the actuaries aren't very good, if the info the insurance company uses
>>isn't up to date or relavent, they lose. Like a casinio. It's like life
>>insurance. Do you pay more if I get snuffed out early in life? No. But on
>>the whole, the insurance company will make money, not many of them go under.
>>It's all based upon the bets placed according to actuary tables developed by
>>people much smarter than you or me.
>>
>>If he is willing to find a company that will guarantee the value of his van,
>>then that company takes the risk, not the insurance buying public at large.
>>
>>tim in san jose
>>
>>----- Original Message -----
>>From: "Eric Zeno" <vw4x4@FYI.NET>
>>To: <vanagon@GERRY.VANAGON.COM>
>>Sent: Tuesday, March 30, 2004 12:02 PM
>>Subject: Re: collison insurance on 83 westy?
>>
>>
>>
>>
>>>A, sorry, but I have to disagree. What is your premium?
>>>Who do you think will pay for this? Do you think money
>>>grows on trees? Who do you think will pay for this crash?
>>>
>>> Eric
>>>
>>>
>>>LOREN BUSCH wrote:
>>>
>>>
>>>
>>>>Q: Shoul I carry collision insurance on my Westy?
>>>>Two and half years ago I totalled my '85 Westy. I had collision
>>>>insurance AND I had ALL the reciepts for the work and parts that had
>>>>been done on it since I owned it. I ended up, after some discussion,
>>>>with a settlement that was very fair, true replacement value on the
>>>>vehicle. And after I bought the Westy back at the 'salvage value' and
>>>>re-sold it to someone that wanted the nearly new engine and other parts
>>>>I probably cam out ahead. Without the collision coverage I'd have been
>>>>out about $8000 or better. You bet it's worth the cost. Just be
>>>>prepared to do some work to prove to your insurance company what the
>>>>true replacement value is.
>>>>
>>>>
>>>>
>>>>
>>
>>
>>
>>
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