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you overthinking it.pugboy wrote:you are assuming we have time and effort to do repairs ourselves
most ppl do not have the means or assumption that insurance intends for you to go that route
unfortunately
That's not entirely correct. Some policies max limit for passenger liability is 250k.......some are up to 2m. This means that the policy max limit will pay up to that amount regardless of the age or profession of the victim. However, the law provided for person's to legally challenge the POLICYOWNER directly thereafter for " justified " compensation for loss of life of the person AND one can win such a case and person's can lose their house, land and assets IF they don't have cash to settle . In addition, Guardian has the option for Policyowners to purchase higher limits of coverages at an additional cost. Not sure if other companies locally offer this ?pugboy wrote:heard the loss of life claims for the cyclists' deaths last year came in
a person's life value starts at $2m and they devalue based on age/profession and whatever scheme they use to avoid paying as much as possible(under the law)
wagonrunner wrote:we're derailing this thread, but that is not a write offa write off is the cost to repair exceeding a percentage (35=45%) of the insured value.pugboy wrote:but if they can find a way to value it low they choose to writeoff and not have to pay much.]
they cut your cheque anyway (if repuatable), and write off (end) the insurance policy.
a write off is not a bad thing.
fully comp car, value 35k, written off for repair cost of 15k
they pay the 15k
cheque in hand.
repair vehicle yourself.
get it valuated as roadworthy yourself (before inspection days)
reinsure with same insurance company.(new policy)
speaking from experiencesadnj wrote:The vehicle is kept by the insurer. It is then either sold for scrap or salvage by the insurer.
What is an insurance write-off?]
Correct. I know someone with a brand new RR also and had it written off due to the flooding in 2018. Payout was over 1M ...and they kept the salvage. Heard they gonna fly in a company specialist to repair .....rspann wrote:Construtive Total loss could be for reasons other than repairs costing 50%. Structural damage, owner refusing a repaired vehicle, are some that come to mind. I Have a brand new RR sport in my garage that was written off due to a damaged rear suspension. The owner was a very influential businessman who had no time for repairs / didnt want a repaired vehicle. There is also another with a lot of damage that is being repaired, so it depends on the circumstances.
wagonrunner wrote:After 13 years, you lose coverage in event of fire, theft, etc.Slartibartfast wrote:I do not. Care to shed some light on the restrictions for all of our benefit? My car is getting there so your response would actually help me in the near future.
you may be eligible for that in the 10-13 year period if you vehicle was valued over 25k (this was ~6 years ago). don't know if the value is different now.
what part of this did you not understand from my previous posts?
shake d livin wake d dead wrote:Guess justice wasnt on time
shake d livin wake d dead wrote:fix yuh own thing?
shake d livin wake d dead wrote:saw these floating around
bluefete wrote:Is how the white Toyota(?) just drove off after the crash.
pugboy wrote:truckman not wearing seatbelt too
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