\”If a consumer has a car worth $2,000 with a $500 deductible, and the car suffers computer damage in the amount of $1,500, under the current law, the insured could pay the deductible and the carrier could fix the car for the consumer. Under the new proposal, the consumer would reportedly be paid $500 and would be without a car.\”
Uhm, how is it they\’ll only get $500? If the car is a total and it\’s worth 2000, they\’ll get a check for 1500. Only difference is, you can\’t buy your car back from the insurance company now. I don\’t see where that $500 settlement came from, it doesn\’t make sense to me.
Seems like a waste of a lot of good salvage. P.S. I assume that is a typo on what the insured would receive for his totalled car, shouldn\’t it be $1,500.00
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\”If a consumer has a car worth $2,000 with a $500 deductible, and the car suffers computer damage in the amount of $1,500, under the current law, the insured could pay the deductible and the carrier could fix the car for the consumer. Under the new proposal, the consumer would reportedly be paid $500 and would be without a car.\”
Uhm, how is it they\’ll only get $500? If the car is a total and it\’s worth 2000, they\’ll get a check for 1500. Only difference is, you can\’t buy your car back from the insurance company now. I don\’t see where that $500 settlement came from, it doesn\’t make sense to me.
Seems like a waste of a lot of good salvage. P.S. I assume that is a typo on what the insured would receive for his totalled car, shouldn\’t it be $1,500.00