Date: Sat, 13 Sep 2003 08:34:21 -0500
Reply-To: zaranski <zaranski@NETNITCO.NET>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: zaranski <zaranski@NETNITCO.NET>
Subject: Re: Totaled camper van
Content-Type: text/plain; charset="iso-8859-1"
If you drop your collision and comprehensive coverage and pay only for PL&PD
(personal liability and property damage, typically the minimum coverage
required for registration), you will have a few hundred dollars each six
months to put into your "SELF INSURED" savings account. After a couple
years this account will be larger than the settlement your insurance company
would offer you for your "totalled" vanagon.
Insurance is a form of wagering. You bet your premium that you are going to
make a claim in excess of what you paid in. The insurance company bets they
are going to pay-out far less than they take in in premiums. And, as we
have learned in the last 700 days, the powerful (I guess I really mean
EXTREMELY RICH AND INFLUENTIAL) insurance industry is so determined not to
play the game fairly that they can arrange government bail-out when for once
the odds worked-out against their favor and they did not reach their profit
goals for a couple quarters.
After centuries of simply raking in the premiums and building huge profit
fortunes, insurers were "hit" with billions in claims from lost lives and
destroyed properties. But wait...these were attacks against our country and
therefore our government, so they reason THE GOVERNMENT SHOULD PAY THE
CLAIMS!
AND, now that we've gotten that straightened out, these uncertain times call
for doubling insurance premiums of all kinds (home, auto, life, business,
etc.) just because insurers feel the need to stack the deck even more in
their favor.
I suggest realistically assessing your own insurance "usage" and "needs."
Mark Zaranski
homeowner,
82 quantum TD wagon/85 quantum wagon/87 vanagon GL driver,
F25C/Shark multihull racer,
small businessman (hearthwoods.com),
semi-self insured.
-----Original Message-----
From: Jeff Oxroad <Oxroad@AOL.COM>
To: vanagon@GERRY.VANAGON.COM <vanagon@GERRY.VANAGON.COM>
Date: Saturday, September 13, 2003 12:51 AM
Subject: Re: Totaled camper van
>In a message dated 9/12/2003 2:43:41 PM EST, braddish@MAIL.COM writes:
>
><< First off, I am an insurance adjuster. While I don't deal with total
loss
>vehicles, I can say that there is not a specific conspiracy to screw Westy
>owners by the insurance industry.
> >>
>
>Yes, as I recall the the conspiracy is a bit broader ;)
>
>Here's my question: To avoid a headache in the unlikely event that a Westy
is
>totaled, does it make sense to have the vehicle appraised and then in turn
>furnish that info. to your insurer. Then paying your insurance premium
based on
>the value of the vehicle. Or if you don't want collision insurance, at
least
>you'd have the value of your specific vehicle on paper should the other
driver
>be at fault and his company has to pay off the value of your Westy--or
however
>that type of thing works.
>
>Having said that I have no idea as to what an appraisal would cost and/or
>what the qualifications for an appraiser are. And if the appraisal would
have to
>be updated every year--which I guess it would.
>
>What if friendly VW repair or parts vendors offered an affordable drive-in
>service for an appraisal? I mean these guys know the value of a Westy...
>
>Maybe the whole thing is a dumb idea. But don't thank me, I have more dumb
>ideas than I know what to do with.
>
>Jeff
>83.5 Westy
>Book Value: $3500*, Actual Value: Priceless
>LA, CA
>
>* not actual book value, my browser is acting up.
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