A $120,000 fender-bender

[Random Variable]

The rear bumper of a Ferrari Enzo is made of a lightweight, durable carbon-fiber material used in race cars and by the aerospace industry.

State Farm Insurance Cos. realized the difficulty in repairing the car when one of its policyholders, driving an old truck while under the influence, scraped another policyholder's Enzo.

Cost of the 2003 Enzo: $600,000.

Cost of repairing car: $120,000.

Cost of bumper replacement: $24,000.

http://www.pantagraph.com/stor.../bus_20050201004.shtml

 

[TitanDiddly]

Repair CF? Heh. Not cheap.

 

[dataxpress]

Bumper Materials != $24,000
Bumper Cost (MSRP) == $24,000
jeez.

 

[aplefka]

I don't understand... the bumper only costs 24k, what's the 120k for?

 

[elmer92413]

I don't feel sorry for them...
They take enough of our money as it is...

 

24K is piddly sh!t to insurance companies.

 

[jlee]

..he could buy my car six times just in the cost of the rear bumper.

:Q

 

[Lucky]

Originally posted by: aplefka
I don't understand... the bumper only costs 24k, what's the 120k for?

the rest of the damage...

 

[Regs]

Originally posted by: Lucky

Originally posted by: aplefka
I don't understand... the bumper only costs 24k, what's the 120k for?

the rest of the damage...

I was gonna say. I better up the property damage limits on my polcy.

 

[GTaudiophile]

Labor. You just don't slap on a bumper...much less one for a Ferrari Enzo.

 

[OS]

heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

 

[Malak]

Yeah he could buy my car and then spend the extra money getting stage-2 turbo in it :/

 

[z0mb13]

Originally posted by: OS
heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

when you have a ferrari (or other exotic cars), you dont get run of the mill insurance

they have specialized insurance for exotic cars

 

[OREOSpeedwagon]

Originally posted by: GTaudiophile
Labor. You just don't slap on a bumper...much less one for a Ferrari Enzo.

wow, i want a job where i can get 96k for putting a bumper on an enzo.

 

[Goosemaster]

Originally posted by: GTaudiophile
Labor. You just don't slap on a bumper...much less one for a Ferrari Enzo.

Aye. On such a vehicle, the sound of the air rubbing against its bumper should be tuned to the note of G.

 

[JackBurton]

Uhhh, my insurance policy won't even cover that.

 

[OS]

Originally posted by: z0mb13

Originally posted by: OS
heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

when you have a ferrari (or other exotic cars), you dont get run of the mill insurance

they have specialized insurance for exotic cars

Duh, but it doesn't matter. Business is business and if the insurance company sees that it's not profitable to insure this guy, it's not above them to jack up his rates or cancel his policy.

 

[PowerMac4Ever]

FENDER BENDER!!!!!

/UT2K4

 

[z0mb13]

Originally posted by: OS

Originally posted by: z0mb13

Originally posted by: OS
heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

when you have a ferrari (or other exotic cars), you dont get run of the mill insurance

they have specialized insurance for exotic cars

Duh, but it doesn't matter. Business is business and if the insurance company sees that it's not profitable to insure this guy, it's not above them to jack up his rates or cancel his policy.

How is Enzo's owner's policy gonna get canceled? his policy is unaffected

 

[OS]

Originally posted by: z0mb13

Originally posted by: OS

Originally posted by: z0mb13

Originally posted by: OS
heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

when you have a ferrari (or other exotic cars), you dont get run of the mill insurance

they have specialized insurance for exotic cars

Duh, but it doesn't matter. Business is business and if the insurance company sees that it's not profitable to insure this guy, it's not above them to jack up his rates or cancel his policy.

How is Enzo's owner's policy gonna get canceled? his policy is unaffected

Q: What do insurance companies consider when they decide whether to cancel or not renew policies?

Claims. Do you file claims frequently or for large amounts?

link

The legality of the ins co not renewing his policy or cancelling it depends on state law, but they can just side step the whole issue by just saying they're increasing rates for that model vehicle.

 

[kyparrish]

dayum

 

[z0mb13]

Originally posted by: OS

Originally posted by: z0mb13

Originally posted by: OS

Originally posted by: z0mb13

Originally posted by: OS
heh, I don't think the truck driver has enough propert damage on his policy to cover that. I wonder if they'll make him responsible for the rest. His policy is probably gonna get cancelled. Maybe the Enzo guy too now that they see how much it costs to fix his car.

when you have a ferrari (or other exotic cars), you dont get run of the mill insurance

they have specialized insurance for exotic cars

Duh, but it doesn't matter. Business is business and if the insurance company sees that it's not profitable to insure this guy, it's not above them to jack up his rates or cancel his policy.

How is Enzo's owner's policy gonna get canceled? his policy is unaffected

Q: What do insurance companies consider when they decide whether to cancel or not renew policies?

Claims. Do you file claims frequently or for large amounts?

link

The legality of the ins co not renewing his policy or cancelling it depends on state law, but they can just side step the whole issue by just saying they're increasing rates for that model vehicle.

ok maybe I am understanding the situation wrong.. who is at fault here? the truck or the enzo??

I thought the truck driver is at fault, so basically the truck's insurance should pay for enzo's insurance, right?

even if enzo's insurance needs to pay for the repairs, I bet he has some kind of special insurance (of course pay crazy premiums) deisgned for that car

 

[OS]

Originally posted by: z0mb13
ok maybe I am understanding the situation wrong.. who is at fault here? the truck or the enzo??

I thought the truck driver is at fault, so basically the truck's insurance should pay for enzo's insurance, right?

even if enzo's insurance needs to pay for the repairs, I bet he has some kind of special insurance (of course pay crazy premiums) deisgned for that car

Did you read the article? They were both insured by the same company. They have to pay for it themselves.

 

[z0mb13]

Originally posted by: OS

Originally posted by: z0mb13
ok maybe I am understanding the situation wrong.. who is at fault here? the truck or the enzo??

I thought the truck driver is at fault, so basically the truck's insurance should pay for enzo's insurance, right?

even if enzo's insurance needs to pay for the repairs, I bet he has some kind of special insurance (of course pay crazy premiums) deisgned for that car

Did you read the article? They were both insured by the same company. They have to pay for it themselves.

Ahh...

 

[Savarak]

Originally posted by: OS

Originally posted by: z0mb13
ok maybe I am understanding the situation wrong.. who is at fault here? the truck or the enzo??

I thought the truck driver is at fault, so basically the truck's insurance should pay for enzo's insurance, right?

even if enzo's insurance needs to pay for the repairs, I bet he has some kind of special insurance (of course pay crazy premiums) deisgned for that car

Did you read the article? They were both insured by the same company. They have to pay for it themselves.

what do you mean? you're talking about the insurance company paying for both car/truck's damages? or the policy holders having to pay for their own damages??

I refuse to believe the enzo owner having to pay for damages when he had his parked car messed up by a drunk driver(altho being an enzo owner, he could probably easily afford it)... he should have his car fixed AND have absolutly no impact on his premium...