Insurance problem...

[chucked]

A buddy of mine bought a v8 94 trans am for $6500 about a month ago. Saturday night he wrecked it and its totalled, frame is bent beyond repair. He refuses to go through insurance because he says it will go up to much and he cant afford it. He right now pays 1500 a year for it. (I pay almost that much per 6 months on a neon) The engine and tranny are good, but the whole front of the car is gone, air bags went off, destroyed the dash and the windshield. But besides that the interior is good. What is yall's opinion of this? Go through insurance, pay the $250 deductible and get the book value of it, or part it out. It has 51k miles on it, and the rest of the car that isnt trashed is cherry, a real shame.

[SRH]

that would be suicide his insurance would sky rocketid part it out

[Aceman]

When I had a wreck 3 years ago, I was thinking about paying for it myself. I paid the 1000 dollar deductible and had insurance cover the other 3500 dollars. My premiums went up for the next 3 years, but all said and done, I think I came out about even. (Adding up the extra insurance vs. paying for the wreck myself)
But since he totaled his rig that looks bad for insurance purposes. Bottom line, why can't he ask his insurance agent what his insurance would cost? Unless he's trying to keep it a secret? If he knew what his insurance would go up to that would be the deciding factor on whether or not to part it out.

[LazeR]

Originally posted by Aceman
Bottom line, why can't he ask his insurance agent what his insurance would cost? Unless he's trying to keep it a secret? If he knew what his insurance would go up to that would be the deciding factor on whether or not to part it out.

I think if you tell them you wrecked your car and want to know how much it would be for them to cover it or whatever they have to tell you the price. Also it might be able to give them a reason to drop you if you have "wrecked". Insurance is confusing, i can ask my step mom tomorrow since she sells insurance, and see what she says!

[derekhonda]

a reasonable insurance provider should be able to adapt to any situation. call and ask them what the difference would be between him having wrecked a vehicle, or not having wrecked. They should understand, after all, they are providing a service to him.