Thats cause insurance is a year long contract, we are agreeing to insure your vehicle for x amount for a year, if you choose to pay your insurance monthly, all it is doing is still breaking the payments up rather than one large sum its just paying it bit by bit, still year long contract. As for keeping the car after the accident and selling it, you are still beng paid out the full amount. if u insure your car for 20k and write it off and say the scrap is worth 2k, we pay you out the 20k and the scrap becomes our possesion, if u kept it as well as get paid our you would be being paid out 22k?
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Originally Posted by atz 242
why is it that when you write off a car, the insurer takes the remaining ammount to be paid on your insurance out of your claimed pay-out ammount, even though there is nothing actually being insured after the car has been decleared a write off, taken into their possession, and sold at auction?....
Is this ethical?
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