On Sun, 14 Dec 2003 01:18:15 GMT, "Paul Mennen"
wrote:

"Roger Halstead" wrote

I think George was being a bit facetious with the lawn mower and
$1000, but it wouldn't take a lot of structural damage to reach half
the value of the hull. That means if your plane is worth 300,000,
you insure it for $150,000 and the damage is close to that, they can
total the plane, give you a check for $150,000, repair the plane and
sell it for $300,000. Pretty good profit for them and loss for you.

As to your example of not filing a claim until the cost exceeded half
the value, it would only guarantee the insurance company would total
it out and you'd be out half the value of the plane.

Never be under insured. It's as bad, or even worst than over insured
which is just wasted money. Under insured can be downright expensive.

Roger, you are correct in that over insuring is just a waste of money.
However the rest of your analysis is flawed.

Ur right.

Roger Halstead (K8RI & ARRL life member)
(N833R, S# CD-2 Worlds oldest Debonair?)
www.rogerhalstead.com
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