Question for new owner operators or those updating their fleet

I had a wonderful opportunity a few years ago to deal with an insurance company. I had the value of the truck at 40. I could show you comparable all day long at 60. At any rate insurance says 30. This comes from the adjuster that came to look.

“The stated value means nothing unless the policy is worded to pay stated value. Those policies are near impossible to get. So on any equipment that you have full coverage on get it appraised yearly by a certified equipment appraiser prior to accident. If there is a claim that paperwork pretty well will get you that value without much argument. That or a Lords of London policy is about your only option.”


Now I do not know how to apply this information to your exact question however I had my appraisals updated when equipment skyrocketed. It wasn’t quite time but sure gives me piece of mind. Also for the record I haven’t tried this method yet so cannot give a review on the results

 

I would think you would have to sue the insurance company to get above MSRP price. I am gonna guess in this market you could win that but would take extra time. All insurance companies I have ever dealt with have ways out of everything. FYI on a transmission it is only covered up to 75 percent of the life expectancy.

 

I got a quote for a new dump trailer last spring and ended up ordering it for 7k more then the original quote a few weeks ago, was going up another 5k at the beginning of the year, I refuse to buy another used trailer if I can help it though.

We have been trying to sell a spare tractor and one of the pictures I have posted it is hooked to my reefer and I’ve had just as many people asking about the trailer as the truck, I’m still not ready to sell since it’s paid off and due to once it’s sold it’s gone. Hoping to flip it In the spring to update my flat though, see what the market does, everyone and their brother can load $4+ a mile freight right now, see what happens when it all comes crashing down