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Automotive Insurance and such
Isn't this the largest insurance scam?
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<blockquote data-quote="scin" data-source="post: 163038" data-attributes="member: 1541"><p>Insurance companies are pulling a fast one on us all.</p><p></p><p>At the end of the day, if the sum insured is not higher than the market value at the time of paying the premium, I believe we should be given 100% OF THE SUM INSURED! It's only fair.. </p><p></p><p>Otherwise why are you paying the extra premium to insure the said ammount in the first place?</p><p></p><p>Hence the term "sum insured" </p><p></p><p>But I know that is never gonna happen, so I never insure for the full ammount of the current market value.</p><p></p><p>Bear in mind, "current market value" does not take into consideration factors like the rarity of the vehicle, the desirability a particular spec of car, the modifications etc etc......</p></blockquote><p></p>
[QUOTE="scin, post: 163038, member: 1541"] Insurance companies are pulling a fast one on us all. At the end of the day, if the sum insured is not higher than the market value at the time of paying the premium, I believe we should be given 100% OF THE SUM INSURED! It's only fair.. Otherwise why are you paying the extra premium to insure the said ammount in the first place? Hence the term "sum insured" But I know that is never gonna happen, so I never insure for the full ammount of the current market value. Bear in mind, "current market value" does not take into consideration factors like the rarity of the vehicle, the desirability a particular spec of car, the modifications etc etc...... [/QUOTE]
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Isn't this the largest insurance scam?
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