KBB says my 2009 Prius nearly doubled in value since last Fall now worth $3000-$4000. But I just dropped collision and comprehensive, so if I buy that coverage back, could I expect my insurance company (Country Financial) to fit the extra bill?
It has 225,000 miles on it.
Don't count on your insurance paying out much on that car with that mileage.
They go off of their own calculations, so just because the value may have increased doesn't mean that it increased as far as they are concerned.
Was wondering if that would be the case. I may call them about their "calculation" then if the value stays up on KBB, lol.
Lol we all get ripped off by insurance so don't feel bad.
I wouldn’t count on it, but you can try contacting your insurance company and asking (I doubt they will fully reveal their magical “formula”). Their formulas are usually in their best interests.
I can confirm they won't tell you the formula. Basically they will say "We base our rates on current repair costs blahs blahs blah". You guys/gals all know how insurance companies are. I hate dealing with them.
I seriously doubt it. They are legal crooks.
In theory yes, but at the same time an insurance company will probably give you less than what you could get if you sold it yourself.
You are dealing with an insurance company. They are in the business of legalized extortion. Their main goal is never to pay a claim. Welcome to reality.
