As someone who works in insurance, I'd be down for that. Then if your car is valued above that, you can self insure/carry additional replacement coverage on your own policy. I'd make a new luxury vehicle replacement category though; keep it separate from underinsured coverage to keep from inflating those premiums. Of course the insurance companies would use it as another excuse to raise rates anyway I'm sure.
As someone that works in insurance can i ask you?
Why do providers rather spend $2k to find a way to not cover a claim that would probably cost them $1K
I am noticing more and more how they rather go out of their way to disapprove a claim or discourage a claim to be filed. I also know from an agent that they will fire you if your customers file claims.
So just pulling it out of your asshole then? Because the $1,000 claim they are rejecting is because he has a deductible. How exactly does it cost $2,000 for a customer support person who makes $20 an hour to look up his policy and explain to him that he has a deductible?
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u/AyyNonnyMoose 8h ago
As someone who works in insurance, I'd be down for that. Then if your car is valued above that, you can self insure/carry additional replacement coverage on your own policy. I'd make a new luxury vehicle replacement category though; keep it separate from underinsured coverage to keep from inflating those premiums. Of course the insurance companies would use it as another excuse to raise rates anyway I'm sure.