[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index] [New Search]
On 1 Aug 98, at 22:47, John R. Jetty wrote: > ok this is probably a blonde :) question but when I switched to progressive > auto insurance they asked how much my car is worth. Is this a normal thing > 'cause I have never been asked this before. Of course I lied and told them $ > 1500.. It didn't change the insurance ( which is dirt cheap) price at all. I found out last winter that my insurance company let me set the value on my car but that this only set my premium. It did not obligate them to pay that amount if there was a claim. When you get your policy you should read the fine print carefully to find out exactly what the meaning of the stated value is. My policy clearly states that under no circumstances are they obligated to pay more than the market value for a claim. All they have to do to establish market value is to hire an independent appraiser. In my case the man who came around was a specialist in 60s muscle cars, but his word still put my value at $700, which was based strictly on the external cosmetics. I had been paying premiums based on my stated value of $4000 which took into account the value of the engine. To be fair, I got to keep the car and engine when everything was settled. Jim - ******************************* Jim Adney, jadney@vwtype3.org Madison, Wisconsin, USA ******************************* ------------------------------------------------------------------- Unsubscribe? mailto:type3-request@vwtype3.org, Subject: unsubscribe