Monday, March 03, 2008

Perhaps I should drop full coverage on my wifes car

I just read a disturbing article on wired that said that cars that have RFID implanted keys are stolen and insurance companies are denying the claims saying the cars are theft proof.

 

I remember three years ago the top of my key to this car broke and it cost me over $100 to get a damn working copy. Not to mention several trips to different places. All the dealer had to do was run the VIN and magically program a new key to work. So we now trust all car dealer employees. I would think they could make some extra dough on the side by selling keys. They have your personal info so they know where to find the car and how to make it work. But if they steal it the insurance company can accuse you of fraud and there are real people out there paying for cars that don’t exist because of this.

 

Our car is paid off and I only keep full coverage on it because in our neighborhood I worry about car theft. What’s the point?. Maybe I will drop it today. Since it CANNOT BE STOLEN.

 

The real stupidity is I have to keep full coverage on my 21 year old pickup that nobody would steal (but would be easy if they wanted to) because it is collateralized in a loan.

 

 

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