Reply by Roger Clark aka Rex

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Posted on Getting Screwed Legally

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Roger Clark aka Rex

6940 posts in 3979 days

#1 posted 10-18-2010 11:36 PM

Dan and rep:

Thanks for your input.
I do understand that a lot of factors go into formulating an insurance premium.

In my case I have been insured by the same company since 1977 for both auto and dwelling.
The dwelling has had 3 claims in all that time, 2 for tornado roof damage and one for a flooding (about 6”) when pipes and fittings burst.
As far as the auto insurance goes, I have had several vehicles over this period and I tend to keep my vehicles 5 or more years. In all that time I have never had a claim, and my point is that when you take out the insurance on the new car, a rate is set, but this rate does not reflect the drop in value of the vehicle over the time you have it. Therefore it could work out that if the vehicle was purchased for $20,000.00, it’s value can only be that much for 1 year (if that), and you could conceivably find yourself some years after purchasing the vehicle having a write-off value of ZERO because your deductible is then worth more than your vehicle :-) :-( So in effect only the 3rd party is then insured.
I may just be with a bad company who are supposed to be my good neighbor!

-- Roger-R, Republic of Texas. "Always look on the Bright Side of Life" - An eyeball to eyeball confrontation with a blind person is as complete waste of Time.

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