Interesting Insurance issue I just discovered-Progressive

Total Loss industry wide, according to my agent, is only about 1.5% of all policies. Of course if it is your loss it's 100%. $400 x the next ten years would only be $4K saved versus enough money to payoff and maybe cash towards a new one. Everybody has to choose. :)

Most of those have fine print that says to get the bigger payoff you must make a replacement purchase of the stated value within 3-6 months. That keeps folks from torching them and buying cheaper/smaller...makes sense.