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 - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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