Ooida physical damage

So saying what you said. If you insure the truck for 50K and the truck is worth 75K in this market you will only get 50K. You will lose 25K by not insuring it and same with trailers.

 

Look around for your exact truck (or as close as you can get) and make record of it just in case OOIDA tries to bend you over.

 

They’re going to cover fair market replacement cost. Up to the amount of stated value. So if you had a stated value if 100k, and a similar Truck can be purchased for $50k, that’s all you’ll get. If you had a value on policy if $35k, regardless of replacement cost, you’ll only get $35k. I just renewed my policy. Increased Truck from $30k to $50k. Trailer from $8k to $14k. Base on selling prices, that’s how much I’ll need. Good Luck with Ooida. It took them 8 weeks to settle with me. They listed my Truck on a salvage auction site. Highest bid was $7500. ( 6 mo. old $23k inframed engine) I had a choice to receive $21k, and a option to buy the Truck for the highest bid,$7500. I took the $21k, though I could have repaired it for about $5k myself. It was this time of year, and 700 miles from home. Bought another similar, slightly better Truck for $21k. The long process really put me in a jam back in 2008-2009, since I was already struggling. Good Luck, hope they settle well with you. I kept them for 3 years before switching. The only good thing is they never increased my premiums. I support Ooida, but having their Insurance is not only a problem at times, but IMO a conflict of interest when there’s a claim. It’s hard to fight against an Insurance company who’s goal is to protect all members best interests, when your a member of the same group. Make sense?

 

How bad was the collision? Major damage?

 

the loss is only based on the actual loss of the market value at the time. if you have a $50k policy and the truck is worth $40k on 1/09/22. then your only getting $40k.

 

Better watch your 6 with those clowns. I made a claim after last years hurricane on a trailer. They finally sent me a check 4 weeks ago. I got a "courtesy" email this morning stating I would be none renewed because my company has been deemed a "hazard" by their underwriters.

Insurance companies are worse than snake oil salesmen

 

We just switched to OOIDA
The last insurance company I was with had me give them an amount and even if I was high they would only pay the market value
If I was too low then they would pay my max amount

OOIDA has no stated value but say it replacement value and they went as far as to say that in this current market that the replacement value can be much higher than I’d expect

The only thing I had to do was itemize any upgrades such as the ARI sleeper on this truck and if it has any other items like aftermarket bumper etc

I was able to get a better policy for less $$ than what I previously had or so it seems