| He is likely still overpaying and could save even more money if he insured for a value of 10k or less. I highly doubt his premium would be the same if he insured for 50k or 100k. IMHO this is what I would expect someone to do if they plan to make their 5k car disappear and use the check to buy up. Grundy is setting themselves up for fraud in this case....which is why they set premiums to hedge against such losses rather than bother with the expenses of investigating each car they insure.
  "I torch my soul to show the world that I am pure deep inside my heart...."
--William Patrick Corgan |
