Yes WB, you're absolutely right, that dollar amount IS based on the price of the truck when new. But that's my point - it's NOT new. Rather than basing the insurable amount on the truck's actual value, it is instead grouped together with all the other such trucks, even if of different models.
When you buy homeowner's insurance, you buy the amount of coverage you want for your home. Granted, that doesn't mean you can buy $500k insurance on a $250k home and expect to get $500k!! But if I wanted to have "my" rates based on the current condition of the truck, how often it will be used, and what is a reasonable value for it, then why can't I?? Most of the other trucks classified along with this one have greater value. This is a former U-haul van with 24' box - nothing special. It's a 454 gas with automatic. They don't sell for as much as the same chassis with a flatbed, a rollback bed, or any other configuration. So my question in all that mess above is, why base it on a higher $ rate, or group it together with other trucks of higher value? Sorry, but I honestly don't understand the way of thinking here.
Insurance companies are in business to make money, as is most every other business. But as with some other companies I've dealt with, some of their methods.....how they rationalize things escapes me. Maybe as a former underwriter you can help us better understand this way of thinking? Not being an adz here; just trying to understand something that I don't understand.
And as I said, I have had mostly good experiences with State Farm. I'm happy with them and plan on staying a customer.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
... [Read Article]
Latest Ad:
Oliver 550 Diesel runs like a watch three point hitch pto engine gone threw about two hundred hours ago nice clean tractor
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
