Re: Re: SCREWED by the ins co.

["Mark Rutherford" <mark@afnetinc.com>]

Not to start a huge debate, but I want to move to your planet.

mark@afnetinc.com

-----Original Message-----
From: Daniel Hussey <GY3WSX@vm.sc.edu>
To: quattro@audifans.com <quattro@audifans.com>; JordanVw@aol.com
<JordanVw@aol.com>
Date: Wednesday, May 05, 1999 4:22 PM
Subject: Re: SCREWED by the ins co.


>
>   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
>