Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.1 6/24/83; site decwrl.UUCP
Path: utzoo!watmath!clyde!bonnie!akgua!whuxlm!harpo!decvax!decwrl!dec-rhea!dec-nacho!digrazia
From: digrazia@nacho.DEC
Newsgroups: net.consumers
Subject: Automobile insurance
Message-ID: <2976@decwrl.UUCP>
Date: Mon, 1-Jul-85 15:40:29 EDT
Article-I.D.: decwrl.2976
Posted: Mon Jul  1 15:40:29 1985
Date-Received: Fri, 5-Jul-85 03:32:17 EDT
Sender: daemon@decwrl.UUCP
Organization: DEC Engineering Network
Lines: 18


I had my first (and presumably last...) auto accident a couple of weeks
ago (no injuries).

I'm wondering what people do about insurance settlements.  My carrier
"totalled" the car and computed a payment by subtracting the deductible
from the average trade-in value.  The average trade-in reflects the car's
worth rather poorly, compared to the open market, leaving me with
substantial replacement or repair expense.  (Trade = $3000.  Retail = $3800.
Repair = $3200.)

Do "all" insurance companies in the US use the same scheme?  Has
anyone found an insurance policy that "totals" against retail value?

Still better, has anyone found a "replacement" insurance?  -- i.e. some
arrangement that reduces the cost of replacing a lost vehicle with a
new one, perhaps by accumulating equity with the balance insured.
Bob DiGrazia