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Insurance and value of equipment for phisical damage

Discussion in 'Ask An Owner Operator' started by mp4694330, Jan 12, 2015.

  1. Jan 12, 2015 #1
    mp4694330

    mp4694330 Road Train Member

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    Is it Your insurance agent automatically lower Your equipment value every year, call You and ask what amount You want to insure or You have to remind him/her annually?
     
    mp4694330, Jan 12, 2015
    mp4694330, Jan 12, 2015
    #1
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  3. Jan 12, 2015 #2
    bad-luck

    bad-luck Road Train Member

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    your insurance value will remain what you started the policy with, unless you change it
     
    bad-luck, Jan 12, 2015
    bad-luck, Jan 12, 2015
    #2
    Jerry12 and mp4694330 Thank this.
  4. Jan 12, 2015 #3
    double yellow

    double yellow Road Train Member

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    But when you have a claim, they will only pay current value
     
    double yellow, Jan 12, 2015
    double yellow, Jan 12, 2015
    #3
    mp4694330 Thanks this.
  5. Jan 15, 2015 #4
    bad-luck

    bad-luck Road Train Member

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    yes that is true, however if you have receipts for rent a lot of work you've done such as customizing a lot of times they will pay that as long as you can prove that you've invested the money
     
    bad-luck, Jan 15, 2015
    bad-luck, Jan 15, 2015
    #4
    mp4694330 and double yellow Thank this.
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