200q20v Insurance payoff

[Bayviewtom at cs.com]

There has been a lot of talk on this subject, and as an insurance agent,
allow me to give my two cents worth.

The guy with the Avant worked damned hard to get his money's worth, and I
applaud him for that. As owners of 200 20V's, we know amoung the enthusiasts
they can sell between $7k and up, and more for the rarer Avants. Insurance
adjusters are not aware of that, nor do they care. They go by NADA book
value, which varies by region. They take that figure, and then deduct any
faults they perceive the car to have.
e
Therein lies a double-edged sword. The insurance you pay on your car is a
fraction of its actual worth. The insurance company you are with operates on
a term called imdemnity. This means to put you back in the same situation you
were in before you suffered a loss. But, insurance company's live and die by
their reserves in the stock market, and are not willing to pay out more than
they need to. And if you suffer a loss, and get a big pay-out, chances are
you will be non-renewed. My advice to the Avant owner is to start shopping
for new insurance, as I am 99% certain your insurance company will drop you,
since they are now losing money as a result of your loss.

Just my two cents as an insurance man,
Tom
BTW my car is still for sale on e-bay