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According to motor insurance policy's conditions the insurance company is not liable to any claim for it is full value ( not obliged to % payment to any claim amount ) because there is a consumption deduction due usage of the insured car which appears as undervalue of the claim amount .
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Vehicle insurance, particularly car insurance, is a loss making portfolio for majority of insurance companies across the globe and hence, it will be 'quite inappropriate' to use the word 'profit when vehicle insurance is talked about.
Insurance companies are aware of the fact that pursuant to an accident, even with the best system in place to monitor repair quotes, car owners will come up with inflated quotes by including value of parts and consequent labor charges which might not have been actually inclusive of the issue in question. This has been understood by insurance companies and hence, they resort to scrutiny of repair quotes and subsequently crack down the avoidable expenses. Such a move will pave way to reduce the otherwise an ever escalating loss but will never make profit for the whole vehicle insurance portfolio.
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Insurance is a contract of indemnity and No one can make a profit from insurance as it will put the insured in the position of before the loss happened.
Insurance agents are paid to tacfully offer the minimum ever claim , and yes it is a source of profitability for the insurance company.
