Originally posted by DAVID64
This guy should be hung, drawn and quartered for treating a Veyron like that. Smells like a scam. How could he expect to get twice what it is actually
worth.
Easy. In the Car Insurance business, there is a thing called "Agreed Upon Value." This is the monetary figure you, the car owner, and the Insurance
Agent agree on that the pay-off will be in case of a total wreck, fire, theft, and so on. There may be a clause on driver error.
I once owned a 1967 Chevelle Malibu Street Rod. I agreed with my Insurance Agent on a $5,000 pay off in case of accident. My wife wrecked the car, hit
a overpass guard rail, and totalled the vehicle.
The Adjuster came, took pictures of the car, and handing me a check for $3,700, the price of the car new. I brought lawsuit. I had over $4000 in
engine alone in the car, plus, it was custom painted, and had a new interior, and new mags and tires.
In court, the original insurance contract came into play, and the judge made State Farm pay up the whole amount. I'm just saying, a contract is a
contract.
Now this guy with the Bugatti....Here is my take. Blame the Agent. Any Insurance Agent who would write a policy for twice the value on a car,
something that is at risk just from driving on the road, just like that, is the one really at fault. I have never heard of such a thing. I'll bet the
Agent was seeing a quick pay off too, in commissions.
