Quote:
Originally Posted by Excaliber
It was posted earlier the estimated damage per vehicle was $5,000.
Uh huh, in their dreams maybe, looks more like a nightmare shaping up for the insurance well above 5K per car!
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This will probably be a blip on the screen for most of the insurance companies involved...especially because they'll just raise everyone's rates by $50 to pay for Mother Nature's fury.
Hagerty took a big hit with Katrina, but think how many policies they write.
http://www.autoweek.com/apps/pbcs.dl...D=200551210004
"To date Hagerty has 419 Hurricane Katrina claims, with 75 percent as total losses. There are 275 claims in and around New Orleans, with an average value of $23,000—or $6.3 million. The top loss: a Ferrari 550 Maranello. “And we had some Bentley Continental GTs and a couple of Jaguars in the $75,000- to-$80,000 range,” Hagerty said."