Date: Wed, 31 Mar 2004 07:03:59 -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
Even if all this BS you have here was true, the
next place he gets insurance, it would cost $1200/yr
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
> To: Aristotle Sagan
> Cc: 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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