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rookie07

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Location
Midwest
Rating - 97.5%
235   6   0
That happened a few yrs. ago. I read it may have been an insurance job, but who knows. What a shame.

Why? Insurance pays to fix the car and its worth so much less than it was. Why not just sell? (anyone buying that car is not financing much and would not be "upside down" on value of car.

Maybe she was in a divorce and destroying his car?
 
Location
Huntington
Rating - 100%
26   0   0
The car was purchased by some guy for his friend and a $2 million policy taken out on it (car is only worth $1 mil). The guy who drove it into the lake (the friend) originally claimed there were pelicans he was avoiding and after the video showed up the insurance company had him charged with fraud because there isn't a pelican nor were there any skid marks at the scene. There was nothing frantic about the turn into the water he just calmly cruised in. Plus the insurance company is claiming that rather than shut down the car after the incident to save the motor, the guy just let it run until it died on it's own causing more damage than was necessary.
 

rookie07

Advanced Reefer
Location
Midwest
Rating - 97.5%
235   6   0
Lfsmarineguy: thank you.....hard to believe an insurance company would allow 2 million insurance on a 1 million car....you are not allowed to benefit from insurance, it is just to make you whole again. Go figure...I just read the article (makes no sense, but money can buy everything except brains and luck- both of which these guys lack)
Less than 2 months after insuring the car they wrecked it...must have been insurance freud from begining.
 
Last edited:
Location
Huntington
Rating - 100%
26   0   0
That's what I read but they did say that because it is considered a collector car that insurance can be for more than the market value since the car is actually worth more than the sticker. I just don't get why he did it if the insurance was in the purchaser's name anyway. Plus you could easily sell that car and make the money back legally instead of going for the insurance and looking at some jail time instead of the cash.
 

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