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Old Sep 18, 2005 | 06:05 PM
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ben47
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Default Re: What do you think happened? LOL

Originally Posted by Epyon
why? that's smart kinda.

insured it as a 35k car.

real worth is only ~23k.

made a nice profit.
The insurance company will pay out between wholesale value or retail, depending if you push it and don't accept their lowest offer. No profit is to be made, as they are only going to pay what the car is currently worth. If your theory was correct, people would be carrying full coverage on older cars in an attempt to recover full price. It doesn't work that way unless it's insured as a classic. Nice try.
 
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