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Better car insurance?
Jan 21, 2017 09:35:43   #
Wes Loc: Dallas
 
There is a company that is advertising “Full replacement value ….PLUS …. depreciation. DUH! What did we learn in math, but that adding a negative subtracts from the total.

So they think when we see a big PLUS, we will think we are getting more. You be the judge.

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Jan 21, 2017 09:39:47   #
Longshadow Loc: Audubon, PA, United States
 
Yea, I thought that was funny also. A ploy.
Is the net result any different that the normal blue-book value???
No different than any other company?
Now you probably can get an "agreed upon value", but the cost will be higher.

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Jan 21, 2017 10:29:33   #
bobmcculloch Loc: NYC, NY
 
One company is advertising replacement value, even a year newer car, another way to have a higher insured value and a higher premium, but, it may be very important to some in their budgeting, depends on individual circumstances.

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Jan 22, 2017 06:54:05   #
jeep_daddy Loc: Prescott AZ
 
If I didn't have such a long relationship with Allstate I would think about going with the one that advertises they will replace your car if totaled with a car 1 year newer.

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Jan 22, 2017 07:56:12   #
bobmcculloch Loc: NYC, NY
 
jeep_daddy wrote:
If I didn't have such a long relationship with Allstate I would think about going with the one that advertises they will replace your car if totaled with a car 1 year newer.

I'd at least get a quote.

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Jan 22, 2017 08:26:55   #
foathog Loc: Greensboro, NC
 
jeep_daddy wrote:
If I didn't have such a long relationship with Allstate I would think about going with the one that advertises they will replace your car if totaled with a car 1 year newer.


Long relationships with car insurance companies almost ALWAYS means you spending TOO much. Get a quote or two.

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Jan 22, 2017 12:06:14   #
waldron7 Loc: State of Confusion
 
In this case, adding the depreciated value IS a positive. If you total a 2010 Dodge Ram, the replacement value is calculated to buy a 2010 Ram at current market value. If you now add back what has depreciated over the past 6-7 years, you can get a new 2017 Ram. Problem is that the premium is higher.

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Jan 22, 2017 12:33:01   #
Bentarrow
 
What really baffles me is if you have a traditional car policy (no new car replacement or 1 year newer replacement feature) the premiums do not decline each year in proportion to the declining value of the auto. Not only that the rates usually increase year after year even if your vehicle has been owned for say 4 or 5 years. We should be doing organized protests to our state boards of insurance for allowing the insurance companies to overcharge like this.

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Jan 22, 2017 12:59:00   #
Violameister Loc: michigan
 
Bentarrow wrote:
What really baffles me is if you have a traditional car policy (no new car replacement or 1 year newer replacement feature) the premiums do not decline each year in proportion to the declining value of the auto. Not only that the rates usually increase year after year even if your vehicle has been owned for say 4 or 5 years. We should be doing organized protests to our state boards of insurance for allowing the insurance companies to overcharge like this.


I don't want governments dictating what something should cost. I think it appropriate to organize a protest at the company itself, or go buy insurance elsewhere.

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Jan 22, 2017 13:17:53   #
John_F Loc: Minneapolis, MN
 
And prompts a detailed explanation from the sales person. Not online.

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Jan 22, 2017 15:35:49   #
jeep_daddy Loc: Prescott AZ
 
bobmcculloch wrote:
I'd at least get a quote.


foathog wrote:
Long relationships with car insurance companies almost ALWAYS means you spending TOO much. Get a quote or two.



Trust me, I keep em honest. Every year or two I get a quote from another company. I've had quotes from AAA and from USAA?? I think that's the one that covers veterans. They never even come close. I have multi policy discounts, and a pretty good record. I had one accident in 2004 and my motorhome was broken into and gear stolen. All covered 100%. Oh, I had photography gear stolen from my garage while I was carrying my stuff in the house. I had too much to carry in so I took the two expensive bags in first, and when I came back to the garage to get the bag with accessories in it, they were gone. They just vanished. I wasn't going to make a claim but started to add up all the gear that I remembered was in that bag and it was worth making a claim.

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Jan 23, 2017 15:50:08   #
ecar Loc: Oregon, USA
 
jeep_daddy wrote:
If I didn't have such a long relationship with Allstate I would think about going with the one that advertises they will replace your car if totaled with a car 1 year newer.



I was with "That" company, but left 6 mos ago. They also advertised accident forgiveness. In 2012, the wife had a fender bender. No one hurt. Long story, but this last Sept, I noticed that my car premiums went up $1000 per year@! (I also had homeowners with them)

I called to find out what was going on, and was told it was to recoup what they had paid out for the 2012 wreck. OH !!! I changed my carrier that day and will NEVER go back to that company, who advertises more than even Geico.

Beware of promises that seem too good to be true.........

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