Insurance.....makes no fucking sense!

[Vteckidd]

i think if you are upside down $2000-3000-4000-5000 you guys are right they will pay fair value for the car.

But $948, thats EASILY a difference between 2-3 months of an appraisal. No one is going to get gap insurance for that $948, and furthermore Gap doesnt actually protect you fully anyway.

What happens if you buy a NEW car for $30,000. The second you drive it off the lot, it drops 15% in value meaning car is WORTH $25,500. The GAP protects you for that $4500 right ?

Does gap take into effect interest? it has to. How do you protect a principal that has interest rates that can very from .9%-9%?

The higher the interest rate, the less principal gets paid off. The less principal gets paid, the more and more upside down you get as time goes on. Some cars drop in value much quicker than others.

Take a DOmestic car. There are Chevy cars dropping 40-50% in value in 2-3 YEARS! Conversly there is Honda Fits that are going for $1000 under MSRP that are 2 years old.

Are you telling me that an insurance company would cover someones $30000 car that was worth $15000 in 2 years just cause they carried GAP?

I doubt it.

Wait it out THEY WILL PAY

[AirMax95]

Wow....you guys are going at it, lol.

My simple piece is along what Mike said earlier. I don't feel they should pay for someones vehicle if their upside down amount is extreme. My difference is $948ish......yes its a business, but my gosh, they disrupted my life.

Any who, the adjuster is not returning my calls, so I am calling her supervisor or someone in power to fix this shit today. I want to settle so I can pick up a car tomorrow.

Thanks for all the input....

[redrumracer]

damn ive never had a problem with insurance companies payin me and ive done totalled 5 damn cars. people may talk shit bout statefarm but they pay when its time.

[Buttons]

Wow....you guys are going at it, lol.

My simple piece is along what Mike said earlier. I don't feel they should pay for someones vehicle if their upside down amount is extreme. My difference is $948ish......yes its a business, but my gosh, they disrupted my life.

Any who, the adjuster is not returning my calls, so I am calling her supervisor or someone in power to fix this shit today. I want to settle so I can pick up a car tomorrow.

Thanks for all the input....

Good luck. I just talked to my insurance and i'm waiting for the adjuster to call me back.

[AirMax95]

damn ive never had a problem with insurance companies payin me and ive done totalled 5 damn cars. people may talk shit bout statefarm but they pay when its time.

I have State Farm and they are great. Looking back, I should have ran the claim through them, lol. Oh well.