Dont Worry About The Fire, Just Check The Insurance
Being 'in the business' I have wondered how some ten thousand or so claims for burnt out Citroens and Renaults are getting on. I had a look through a couple of local policy wordings to see what would happen if The Bros got a bit uppity and decided to have a bit of a dash in South Auckland. Well, all that povery and marginalisation, you know. If it can happen in La Belle Socialiste Fance then it won't be long before our blokes see what a wonderful way this is to open up the Gummint coffers. Fifty or so Holdens on dole day should do the trick.
It seems there is some doubt as to whether our insurers would pay. It all hinges on the legal definition of 'insurrection' or 'rebellion' for whivch cover is expressly excluded. Oddly enough the policy wording I examined did not carry an exclusion of cover for 'riot or civil commotion.' This is a surprise and I imagine insurers will quickly move to fill the gap. (Thats Labourspeak for plug the loop hole.)
Anyway, a couple of e-mails to France and lo and behold we find claims are being met. It appears the average claim value for cars is 5,000 euros or NZ$8,600 So with 10,000 cars burnt the bill will be $86 mil. I gather the total insurnce bill so far is estimated at 200 mil euros. That's about NZ$350 mil.
There go the premiums again for next year. Seems the international insurers need only one well publicised calamity per year to maintain the fiction that they need to keep increasing their premiums.
Update November 16th: This e-mail from La Belle France
'Most of the residents of the hardest hit areas cannot afford car insurance.
They tend to have modest salaries -- and the premiums are so high because
insurers do not want to extend coverage in those areas. Residents who have
insurance will get paid, but they are a small minority.'