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Re: Lake Stevens, WA: How 2 Math Grads are Disrupting the Auto Insurance Industry 

By: ribit in POPE 5 | Recommend this post (2)
Thu, 26 Apr 18 10:19 PM | 58 view(s)
Boardmark this board | Pope 5 		Msg. 00376 of 62138
(This msg. is a reply to 00370 by Decomposed)
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...once upon a time an aunt of mine was involved in a wreck in a 72 Plymouth Valiant. The other guys insurance company offered us $1200 for it. He said that was all they were liable for cause that is all the vehicle is worth. I told him that what he said was true if we were trying to sell the vehicle but we were not trying to sell it, we were trying to replace it. Also told him that if they could find us a 72 Plymouth one owner 15,000 miles or less we would look at it. Adjuster made a call then came back and wrote my aunt a check for %15,000.00 Insurance companies love to misquote the law.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!

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Re: Lake Stevens, WA: How 2 Math Grads are Disrupting the Auto Insurance Industry
By: Decomposed in POPE 5
Thu, 26 Apr 18 12:41 PM 		Msg. 00370 of 62138

My wife tells me that the 21-year-old woman we had the accident with was not insured with GEICO after all.

Our insurance company called my wife and asked her to obtain a quote for repairs. When it came in at $1,700, they stated that our minivan is a loss (i.e. it's totaled.) Its Blue Book value is just $1,200 and they are therefore cutting us a check for $1,000. The $200 difference is the deductible we have on our UNINSURED MOTORIST COVERAGE.

It's a good thing we have that or we'd be getting nothing. $1,000, though, sure isn't a lot of money. However, in going this route, I think we're going to be able to keep the van. The title will identify it as a salvage. We might have to buy the totaled minivan from our insurance company since I think they might own it if they pay it's entire value to us. I'll know more in a few days.

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