Quote:
Originally Posted by CincyJohn
See, now you are talking about liability, which was never discussed or brought up by me. I have auto liability for amounts required and then a pretty big umbrella for anything not covered. As you bring up, liability is an issue because it is almost impossible for you to cap what your potentially liability could be.
All I was talking about is gap insurance (and I would say a lot of the same things about collision). In each of these instances, the potential risk is very, very easy to calculate and limited (and changes, by the way, over the life of the car). Harder to calculate the risk of the insured event happening, but not that difficult either. It's pretty simple math.
In any event, gap is irrelevant to me as I buy most cars, including this one, with cash (although I did finance a bunch of my 2020 BRZ but that was because they were offering a loan at 0.5% - basically free money). I just find it beyond hilarious that people who think you are "underinsuring" by not buying gap insurance (which I still say is unlikely to EVER be used assuming current market) are some of the same people that would spend 5 -7k on FI which IMMENSELY raises the risk of you blowing up your engine (another 10 -15k) where NONE of it is insured.
Indeed, its just funny how people think of certain "risks" one way and others entirely differently without realizing they take way more risks they think they do just getting out of bed in the morning!
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The only free money in America is proceeds from a life insurance policy.
0.5% is not even close to free money when money markets are paying 0.02%.
There is something omitted from the OP's claim. When you insure a car they only look at the rating based on a VIN. BRZ VINs only differ on the B, C, or D in the 7th position. It does not state whether I added on the entire Subaru parts catalog or not. To the best of my knowledge they don't reference the Maroney sticker when paying out a claim either. Since every mod on my car except the tint is from the Subaru parts catalog, I can claim I paid $34,000 for the car and show a receipt and if I got $41,000 for it you can safely assume a lot of that is because of the $7K (retail parts and labor) of Subaru add-ons that would be on the car that the adjustor would check off a list.
The way people have parts waiting in their garage before their car is even delivered it's pretty likely this is the scenario.