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Old 06-11-2011, 10:49 PM   #1
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Default Ethical question

My insurance company agreed to pay for the full amount of my leak damage, around $5K. In theory, I could have the trailer repaired for free and have like-new trailer with a re-done roof, and no worry about winter rains in 2011.

My wife, however, wants to sell the trailer as-is without the repair (we will give full disclosure to the buyer, who is a trailer RV repair guy) add the proceeds to the insurance money, and buy a new or slightly-used, 2010-2012 model of a slightly larger 18-foot trailer.

I know the insurance company probably doesn't care, and this practice is probably common. If the insurance wanted to prevent it, they'd probably pay the repair shop directly. But does this seem okay and ethical?
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Old 06-12-2011, 08:31 AM   #2
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Not unethical at all. As far as the insurance company is concerned they paid for the cost of your damage. If you have it repaired and sell it or sell it outright its all the same to them. If you sell it without doing the repairs presumably your sale price is reduced by the amount of the damage. And since your buyer is in the RV repair business he can repair it his cost so it would save him money versus buying an undamaged trailer.

Look at this way. If your trailer was worth $7000 undamaged you could sell it for $7K. With the damage disclosed you could only sell it for $2000. So the insurance company just paid the difference in value.

As long as your buyer is fully aware of the damage I see nothing unethical at all.
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Old 06-12-2011, 09:52 AM   #3
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def nothing to fell bad about. think about it if it was a car. car get totaled by insurance co, owner buys car back for exremly low price, fixes car for cheap and sells it , or keeps it and its paid off now, happens all the time. and completly legal
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Old 06-29-2011, 08:40 AM   #4
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Default Re: Ethical question

Quote:
Originally Posted by paulitzlee2
My insurance company agreed to pay for the full amount of my leak damage, around $5K. In theory, I could have the trailer repaired for free and have like-new trailer with a re-done roof, and no worry about winter rains in 2011.

My wife, however, wants to sell the trailer as-is without the repair (we will give full disclosure to the buyer, who is a trailer RV repair guy) add the proceeds to the insurance money, and buy a new or slightly-used, 2010-2012 model of a slightly larger 18-foot trailer.

I know the insurance company probably doesn't care, and this practice is probably common. If the insurance wanted to prevent it, they'd probably pay the repair shop directly. But does this seem okay and ethical?
Its good to know there people like you that cares about others , If you told the one buying it that it needs repairs and why & were , I think its OK & He knows how to repair it himself . Just think I got my FDS NEW and its JUNK , If FunFinder were Ethical , Most of us would not be Posting our problum . Good Post Sir
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