sunshimmer09
Registered User
- Messages
- 20
If you profit from an insurance policy, it goes against the idea of indemnity and is wrong.
your car is now devalued by x amount,the insurance payment will allow you to bring the value back up,if you choose not to get the work done and pocket the dosh i cant see the problem,you will be out of pocket by the x amount when you try to sell the car.
The car devalued due to the fact that he hit a wall, not due to his stupidity. Stupidity is NOT an insured peril, but accidental damage is.
The fact that he repairs it to his satisfaction at a cheaper price than that assessed by insurer is neither here nor there.
The car was worth €X pre accident. If it is properly repaired then it is worth close enough to €x post accident. if however, the standard of repair is poor, then the value of the car is now substantially under €x. If OP is happy, then thats the end of the matter.
he did no have to get it repaired at all. he might have been happy to drive around with the car showing its damage for ever. he is still entitled to be compensated under his policy on an indemnity basis.
For example, if my car is a total loss and I am given cheque by insurance company, I do not ave to replace the car. I can if I want, give the cheque to Ladbrokes and place a bet on the ireland/italy match. The insurer has compensated me for my loss and what I do with the proceeds is up to me.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?