Insurance woes

A fast heads up to check your insurance policies.  Thinking I was doing fairly well in that area, I just suffered a $20,000 +  loss (through no fault of my own) and ended up with less than $8000 in return to replace van, machinery and all my stuff.I was lucky enough to dodge the bullet, but a few years ago I may not have. Before you end up in my mess...........................................................
















CHECK YOUR INSURANCE POLICIES!!!!!!!!!


Edited by Willy Parsons - 06/September/2006 at 11:08am

They just depreciate the hell out of everything. I lost some equipment once. The paid me jack?

I carried a seperate policy on my equipment. If you can find me a carrier that  offers replacement value, I'll buy it. 

Superglide Ken wrote: Replacement value is offered only on some new vehicles for the first 2 years and also on some home insurence policies. Other than that, I have never seen it offered on carpet cleaning equipment.

have you ever asked???LOL because yes it is....your equipment devalues every damn year... it wouldn't be worth it unless you could get replacement value.

Superglide Ken wrote: Yes, I have asked. Replacement value(as in replace with a new item) is not offered on carpet cleaning equipment on a regular policy.

well then your broker is not working for you...fire him and get a new one...  My broker works for me.... he's the one that told me my regular auto insurance probally wouldn't cover it... and he was right .....I pay about 700 bucks a year per truck  but it's worth it

We are insured for the amount we paid for the equipment, this does mean replacement value as the cost of equipment goes up.