Most state laws state that they have to pay up to the value of the item damaged. So you have a nice JD B that gets stolen or what ever. The insurance company only has to pay up to market value to replace it. Not what you have in it. That isn't the company ripping you off that the company following the letter of the law. You may find an agent or a company that will sell you a policy that states your tractor is insured for 10K but can get out of paying that much because of the law. You may get lucky and get paid that 10K but you may wind having paid extra for nothing. Trust me, your insurance company has lawyers who know a heck of a lot more about your states insurance laws than you do and advise that company on exactly what they can and can't do.
As far as dealing with an insurance company is concerned most states give you the right to contest the decisions of the company but that can get expensive. The insurance companies know that and that the average person isn't going to spend a couple of grand in leagal fees and on an arbitrator.
Gotta remember that most agents don't work directly for the company. They work for an angency or own it. That way the insurance company isn't responsible if the agent misleads you. Some insurance companies are hiring outside adjusters much for the same reason.
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Today's Featured Article - Gettin My Old Tractor Home - by Clayton Sweeney. My name is Clayton Sweeney. I am from Southern Maryland in a small town called Lothian. I am 20 and my father and I are the proud owner of a 1954 Allis Chalmers WD-45. When I was 18, I dated a girl in the next county over. Her family are tobacco farmers. It was a cold Thanksgiving evening, and we were going up to her Grandparents house. As we passed one of their barns, I noticed something orange in the corner of my eye in this old shed. It was pretty dark and I asked what it was
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