On Fri, 12 Dec 2003 21:45:26 -0500, "G.R. Patterson III"
wrote:


So, you insure the plane for half what it's worth. Then some clown runs into
the aileron with the lawnmower and does $1,000 damage. The insurance company
totals the aircraft, puts $1,000 into repairs, and resells it for a nice profit.

Enjoy your settlement.

Although under insuring the plane gives you a built in deductible. If
you only insure the plane for 1/2 of its value you wouldn't file a
claim until the cost of repair exceeded 1/2 the value of the plane so
your example would not happen.