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Old 10-08-2006, 02:51 PM   #11
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Default Re: Insurance Buy Back Question

I've noticed that ALL the Insurance carriers have complaints against them - State Farm being BY FAR the Largest carrier in the US, would naturally have the most complaints against it.

Not that I'm on the Ins. Co.'s side - but *HOW* is it that ANYONE in a floodplain/low-lying area is able to get flood insurance after the flood disasters of the mid-'90s?

Didn't the Fed. Govt. rule that there would be no more flood bailouts after moving a couple of towns? Ergo, no more insurance companies would underwrite you, for ANY amount of money. (no Fed. "safety net" for the Ins. Providers)

All I can say is thus; if the Insurance Companies were Illegally denying claims left and right; the State or Uncle Sam would step in and have something to say about it. There must be a legally-binding clause in the policies, or there would be more than a bunch of folks crying to newspapers and CNN about bein' Four-Asterisked in the Three-Asterisk: there would be people in jail - and you wouldn't hear tales of "Aaaaah! I didn't get no million bux fer my hovel!" or Aaaaah! My poor '78 Monte Carlo was worth more than the measly $25k I was reimbursed for!"
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Old 10-09-2006, 06:28 AM   #12
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Default Re: Insurance Buy Back Question

My experience with my totalled Buell was that the insurance company of the at-fault party tried to...

a) lowball the pre-crash value of the bike using some dubious comps

b) pitch a really high buy-back price that I MAYBE could have recovered... after many hours of work dismantling the bike and Ebaying parts

unless you want the bike to repair yourself OR you have a lotta dead time on your hands... take the check and walk away.
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