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General Automotive Interest
Automotive Insurance and such
Isn't this the largest insurance scam?
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<blockquote data-quote="bal3056" data-source="post: 163148" data-attributes="member: 584"><p>Insure your vehicle value based on the principles of the 'Average Market Value Clause'. I call it the +- 10% Clause. Read your policy on what this clause means.</p><p> </p><p>So if you think your car's currently worth RM80k in the market, insure it for 10% less at Sum Insured value of RM72k (can be rounded to RM70k). You'll not be penalised for underinsurance. Thus you should be paid probably very close to RM72k should a loss occur ... so the loss to you is not much.</p><p> </p><p>Hope this helps.</p><p> </p><p>Hatish Mayer</p></blockquote><p></p>
[QUOTE="bal3056, post: 163148, member: 584"] Insure your vehicle value based on the principles of the 'Average Market Value Clause'. I call it the +- 10% Clause. Read your policy on what this clause means. So if you think your car's currently worth RM80k in the market, insure it for 10% less at Sum Insured value of RM72k (can be rounded to RM70k). You'll not be penalised for underinsurance. Thus you should be paid probably very close to RM72k should a loss occur ... so the loss to you is not much. Hope this helps. Hatish Mayer [/QUOTE]
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Isn't this the largest insurance scam?
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