Cracked windshield: Repair or Replace?

What!? Are you an idiot?? Oh that's right...you are.

Only a moron would run the risk of throwing away five grand...and it doesn't
matter how rich you are.

I think Mike is funny...he tries to make a statement that would make one
assume he has money...only to make the scenario that he would lose money.

Real (truly) rich people, didn't get rich by making stupid calls like
this...more proof this clown is nothing more than an idiot.

 

Because its not fraud you idiot.

 

The purpose of insurance is to protect you against a loss that you cannot
afford. You will, on average, end up paying more money by buying insurance.
You are paying the insurance company to assume your risk. That they stay
in business makes it clear that they are making money, on average.

You are completely wrong. Buying insurance will, on average, cost you
more.

Mike is an idiot, but at least he understands the basic economics of
insurance.

 

The price will vary from one shop to another if you pay for the repair.
If it's paid by the insurance, they have fixed rates and often your
insurance company will try to send you to a shop they have a deal with even
though you are intilted to choose where you want it to be replaced.
In the past, I had some chips repaired free of charge, covered by the
insurance and the shop took care of claiming it from the insurance so I
didn't have to pay and claim the money afterwards.
Inspect the job carefully as I've seen a bad job on a friend's car. The car
was 1 yo and they scratched some plastics inside. I talked him into going
back and have the damaged parts replced by the shop.

 

Matthew Hunt said for all posterity...

Exactly. You and the insurance company are both playing the odds
and they've studied the averages very well.

Yep. And the day you start to think you're ahead is the day you'll
get a non-renewal notice for "claims frequency". Comprehensive
claims count more than most people think.

Insurance companies aren't charities.


Casey

 

That would surprise me. Usually the insurance rate is less than
retail, though the companies in Minnesota sometimes play with the
deductible making it a zero cost to the consumer.

 

Maybe where you live it is......not necessarily in California, where risks
associated with Comp claims are higher.....road hazards, vandalism, theft,
weather conditions, etc. On newer cars it is prudent to take the highest
deductibles that you can afford to live with in your financial means for
BOTH comp and collision. A person who cannot afford $1000 should not be
buying coverage with $1000 deductibles. In Calif, Comp/Collision coverage
amounts to approx 40% of the cost of car insurance.


< A high

 

You are completely wrong.

I don't think so.

Only if you never make a claim.

Of course the "average" driver will pay more, but that's what its all
about...that's what "insurance" is. In case you haven't heard, insurance
companies make a profit.

Paying insurance is guarantee coverage for you auto, in the event of an
accident. My point was, anybody who doesn't carry insurance on a $5000.00
auto, is just plan stupid. What if the car gets totaled by an uninsured
motorist? What if a tree falls on it? What if you run off the road? What if
you hit a deer?

What makes it worse is if the auto is damaged, but not totaled. What if that
deer did $3000.00 damage?

Get it?

 

My insurance company has a deal with a network of glass shops,
presumably around the country. You call an 800 number and they make
all the arrangements with the local shop.

I'm free to choose my own shop ... my insurance company emphasized
that they pay the costs either way. However, the insurance company
guarantees the work if I do it through their network. If I have a
problem, I call the insurance company and they make the arrangements
to redo the work or fix any problems.

 

Uh, yeah, that's what I was explaining to you. How are those reading
comprehension skills coming along?

No they aren't, if they can absorb the $5000 loss without great
hardship. As I explained, you buy insurance to cover losses that you
cannot absorb. If $5000 is a lot to you, then carry full insurance on
your $5000 car. It's a lot of money to me, and I do carry insurance.
But if Mr. Rich Guy has enough money that losing $5000 will have little
effect on his quality of life, then he's better off not insuring his
$5000 car.

Do you?

Let's put it this way. You think it's stupid to not carry full insurance
on a $5,000 car. What about a $1,000 car? A $250 car? If you have a
deductible, it means you are willing to assume some of the financial risk
yourself. So why is it OK for you to assume $250 or $500 worth of the
risk, but stupid for someone richer than you to assume $5,000 of risk?

 

Matthew is on the right track, but there is another factor to consider.
In my case, adding comprehensive coverage to my junker car, for the sole
purpose of getting free windshield replacements would've cost about $200 a
year. Since a replacement windshield costs, I believe about $300-$400
dollars, then as long as I didn't need to replace the windshield more than
once every two years, I'd be better off without the insurance.
You have to look at how much you pay in, versus how much you could get out.
If over the short term you are paying in more than a potential claim payout,
then you shouldn't have that coverage. And if you can accept the loss
without significant hardship, then you shouldn't have the coverage.

--Peter