A aviation & planes forum. AviationBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » AviationBanter forum » rec.aviation newsgroups » Owning
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Insurance payout and 'totaling'



 
 
Thread Tools Display Modes
  #2  
Old May 29th 04, 12:13 AM
VideoGuy
external usenet poster
 
Posts: n/a
Default


"Michael Horowitz" wrote in message
Oh, it's a way of cutting their losses. When they pay out for a less
than totaled a/c, they loose 100%, but if they total the a/c, they at
least get 30-40% back. Thanks


Think you may find they get more than that. It's pretty much the same with
the auto insurance industry. I personally know of situations where the
insurance company totaled the car; paid the insured (MINUS the deductible,
of course) and parted the car out, and actually retreived close to 85% of
the payout. The insured is ALWAYS the one who takes the big hit, either by
the insurance company totaling "short" or by big premium increases, or both.
If you think you can win with insurance, you're living in a fools paradox.

Best bet is whole life insurance, bought early in life. Of course, the only
way to collect is... sigh

GWK


  #3  
Old May 29th 04, 06:24 AM
Ricky Robbins
external usenet poster
 
Posts: n/a
Default

On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot
net wrote:

Best bet is whole life insurance, bought early in life. Of course, the only
way to collect is... sigh


Whole life? I don't think so.

Ricky
  #4  
Old May 29th 04, 05:15 AM
VideoGuy
external usenet poster
 
Posts: n/a
Default


"Ricky Robbins" wrote in message
...
On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot
net wrote:

Best bet is whole life insurance, bought early in life. Of course, the

only
way to collect is... sigh


Whole life? I don't think so.

Ricky


Well.... Maybe I should have just said "life" insurance. Better?

GWK


  #5  
Old May 30th 04, 04:28 AM
Dave Stadt
external usenet poster
 
Posts: n/a
Default


"VideoGuy" gkasten at brick dot net wrote in message
...

"Ricky Robbins" wrote in message
...
On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot
net wrote:

Best bet is whole life insurance, bought early in life. Of course, the

only
way to collect is... sigh


Whole life? I don't think so.

Ricky


Well.... Maybe I should have just said "life" insurance. Better?

GWK



No. It is one of the worst investments ever invented.


  #6  
Old May 30th 04, 03:10 PM
EDR
external usenet poster
 
Posts: n/a
Default

In article m, Dave
Stadt wrote:

Well.... Maybe I should have just said "life" insurance. Better?


No. It is one of the worst investments ever invented.


Unless you are the person selling the policy. :-))
  #7  
Old May 29th 04, 11:02 AM
Steve Foley
external usenet poster
 
Posts: n/a
Default

I believe the best bet is no insurance.

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out. I believe that over the long run, you
will pay more in premiums than you will collect.

I stopped paying collision on my auto the day I got the title. I don't carry
hull insurance on my plane.

I Only insure against a loss that will change my lifestyle. (liability,
home, health)

"VideoGuy" gkasten at brick dot net wrote in message
...

Best bet is whole life insurance, bought early in life. Of course, the

only
way to collect is... sigh



  #8  
Old May 29th 04, 05:41 PM
G.R. Patterson III
external usenet poster
 
Posts: n/a
Default



Steve Foley wrote:

I believe the best bet is no insurance.

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out.


Not usually. They usually take the premiums and invest them in things like the stock
market. That's where they really make their money. That's also why premiums skyrocket
when the market goes down.

George Patterson
None of us is as dumb as all of us.
  #9  
Old May 29th 04, 06:26 PM
EDR
external usenet poster
 
Posts: n/a
Default

In article ,
Steve Foley wrote:

Think about it. The insurance company exists to make money. They collect
more in premiums than they pay out. I believe that over the long run, you
will pay more in premiums than you will collect.


The insurance company makes the most money by investing the premium
money. When the stock market is doing badly, insurance rates go up.
When the market is doing well, the rates go down.
  #10  
Old May 29th 04, 04:26 PM
Judah
external usenet poster
 
Posts: n/a
Default

"VideoGuy" gkasten at brick dot net wrote in
:

Best bet is whole life insurance, bought early in life. Of course, the
only way to collect is... sigh


Next thing you know, insurance companies will start declaring a total loss
on life insurance policies if you sustain 60-70% of injuries. Then they can
make back the difference in salvage value...

How much does a cadaver minus a few fresh vital organs go for these days
anyway?
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT +1. The time now is 11:03 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright ©2004-2025 AviationBanter.
The comments are property of their posters.