Well, at least (it seems) they won't make it the default like they did with reduced accident benefits. That was a huge reduction for not a lot of difference in cost.
I still don't understand why we need to pay accident benefits on multiple vehicle policies as the primary operator.
If I was driving a POS that wasn't worth more than maybe $1k, I can see where this would be worth it.
But, am I missing a hidden "gotcha" in there somewhere?
If I was driving a POS that wasn't worth more than maybe $1k, I can see where this would be worth it.
But, am I missing a hidden "gotcha" in there somewhere?
Tow truck mafia. Cop says they have to take the car. They can charge you whatever they want and you can't get out of the bill. Besides, what running car is worth $1000 anymore? Probably more like 3K and up so you need to have an incident once every few decades to come out on top.
If I was driving a POS that wasn't worth more than maybe $1k, I can see where this would be worth it.
But, am I missing a hidden "gotcha" in there somewhere?
If you have no assets and bad credit anyway then you save money on insurance. If you have tangible assets then you may lose 1000s of times more money then you save.
Tow truck mafia. Cop says they have to take the car. They can charge you whatever they want and you can't get out of the bill. Besides, what running car is worth $1000 anymore? Probably more like 3K and up so you need to have an incident once every few decades to come out on top.
If you have no assets and bad credit anyway then you save money on insurance. If you have tangible assets then you may lose 1000s of times more money then you save.
I don't understand how a total loss of my vehicle results in hundreds of thousands of my personal assets.
Are you referring to a potential civil suit? Isn't that what the liability coverage is for?
What recourse would the tow truck mafia have if I tell them to just keep the POS?
I don't understand how a total loss of my vehicle results in hundreds of thousands of my personal assets.
Are you referring to a potential civil suit? Isn't that what the liability coverage is for?
You can tell them to keep your vehicle. They keep the storage clock going at three figures per day. At some point, they send that bill off to collections as you aren't paying it. It could be well into five figures by that point. So your credit is ruined and you have a huge outstanding bill. Real damage for you. Huge lack of repercussions for them.
Could you lose hundreds of thousands? Very unlikely. Could you lose tens of thousands? Easily. Could your credit going in the dump cost you many thousands and/or prevent you from doing something you would have been otherwise able to do? Yup.
I really dont like this. Same bullshitt from PSUs. I think all labour or lobby supported advertising should be required to disclose their political, union, or lobby group affiliations when they advertise.
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