Re: SCREWED by the ins co.

[Daniel Hussey <GY3WSX@vm.sc.edu>]

   Sorry to hear about your experiences, but I have a different view.

   Being an insurance major I happen to know a little about how the business
works.  Yes, some insurance companies (less known ones) will sometimes low ball
and rip off people.  Don't use them, but if you get hit by someone using an
insurance company like that, sometimes you get screwed.

   Go with an insurance company that has a high rating from rating agencies
like AM Best and Moodys.  And, most importantly one with high consumer
retention.  Insurance companies generally don't want to screw over thier
customers as they want to keep them and they can better classify the risks of
customers that have been with them for a long time.

   It is a fact that most insurance companies (practically all) pay out more
money in claims than they collect in premiums.  So, they actually loose money.
How do they stay in business?  Well, by investing the premiums and betting
they won't have to pay out for a certian amount of time.  So, insurance
companies have to price thier products at a very fair rate or they will loose
to thier competition.  They only stay in business because of thier investment
income.  And, they have to choose certian (safer) investments due to the high
liquidity of the business and to remain solvency in times of crisis.

   The main advice I have to listmembers is to keep good (meticulous) records
and reciepts for all work and parts on the car.  If something happens to your
car, then you have defence that your car was very well maintained and is
worth more than the average car of that age and vintage.

   Don't settle for a low ball amount.  You can fight it.  Show them reciepts
and what other comprable cars are going for in the market.  But, with an older
Audi, you are almost never going to get what you have put into the car.  Those
are the breaks.  It sucks, but that's life.  Roll with it.

   Good luck with it, and I hope you get a fair amount for your car in the
settlement.  BTW, Was it you that had pictures of your wrecked car on the web
somewhere?  If so, I'd like to know the URL.  I know someone on the list had
posted pictures of a totalled 5000 (head-on collision) on the web, but I missed
it.  It was supposedly pretty badly totalled.

   Later,
   Dan