PDA

View Full Version : Equipment Insurance


qps
08-28-2007, 04:24 PM
My recently fired insurance agent has told me all along I had replacement value on my equipment...skidsteer, mini and so forth, after a lengthy converstation with new agent...same carrier...I'm told it ACV or actual cash value..so my question is why do we pay a premium based on cost when its value drops every year...not to happy with my ex-agent to say the least:angry: ..........Is this the norm???? I don't really mind that it's ACV but if that's the case, yearly I would be looking over my equipment list and reducing dollar amount....

ksss
08-28-2007, 05:24 PM
Tim if it is ACV then you need to adjust it yearly. My agent and I get together every year and go over everything I own. I adjust accordingly. I had a terrible agent before this one. The company I am with now is squared away. You really need to have an atleast year conversation with your agent. My agent also writes my bonds so it works well.

qps
08-28-2007, 06:33 PM
Tim if it is ACV then you need to adjust it yearly. My agent and I get together every year and go over everything I own. I adjust accordingly. I had a terrible agent before this one. The company I am with now is squared away. You really need to have an atleast year conversation with your agent. My agent also writes my bonds so it works well.

Tis the reason I fired my agent...found out after three months he still hadn't added the mini to my policy...what an a$$wipe. when I finally called him out on it he found the note from 5/25/07, can you believe that crap...his response was if something had happened he would have covered it because he had my note...what if it came down to his word or mine...I'd be eating a
50K mini....your absoultely right on reviewing every year....since my old agent stated it was actual replacement cost I never worried about it, thinking I was insured to the max, lying scumbag...I don't mind paying..just hate a s.o.b. piece of.............ugh......good news is...aren't you home shane???:waving:

ksss
08-28-2007, 07:23 PM
I fly out Saturday. I wont soon forget my experiences here but I am happy to be going back to my side of the Rockies. That and although not a bad paying gig, this is not filling my bank account like one needs this time of the year when you live where I do. A lot of work to go back to so I am thankful for that.

qps
08-28-2007, 07:29 PM
I fly out Saturday. I wont soon forget my experiences here but I am happy to be going back to my side of the Rockies. That and although not a bad paying gig, this is not filling my bank account like one needs this time of the year when you live where I do. A lot of work to go back to so I am thankful for that.

Your guy gonna be there...starting Mon....??????:weightlifter:

ksss
08-28-2007, 07:44 PM
I will be there, Mrs Kaiser and I have some things to do before I climb on a piece of iron.:clapping:

qps
08-28-2007, 08:28 PM
I will be there, Mrs Kaiser and I have some things to do before I climb on a piece of iron.:clapping:

Heard that:cool2:

dozerman21
08-28-2007, 10:56 PM
Tim if it is ACV then you need to adjust it yearly. My agent and I get together every year and go over everything I own. I adjust accordingly. I had a terrible agent before this one. The company I am with now is squared away. You really need to have an atleast year conversation with your agent. My agent also writes my bonds so it works well.

I do the same thing to make sure everything is on the uppity up. If I add any equipment, I call all the info in and it's covered. After that, I'll get an audit in the mail with a price increase for whatever I purchased, that way I have proof that it's covered, both on paper and in my checkbook!:hammerhead:

RockSet N' Grade
08-28-2007, 11:58 PM
KSSS......you talkin' about taking Mrs. Kaiser shopping or what? As far as insurance goes, it is interesting to me that right when this thread came up I was talking with my insurance guy.........well, it's been a week plus and I am the one doing all the calls to him with a hem-haw attitude on his part and the proverbial "I'm on another call right now........will get the paper work together so we can review it.....will call you tomorrow"........yada-yada-yada. Last year my insurance lapsed because he went on vacation and "forgot" to do his part of the paper work. I'm fed up and shopping for another agent starting now.

qps
08-29-2007, 09:40 PM
KSSS......you talkin' about taking Mrs. Kaiser shopping or what? As far as insurance goes, it is interesting to me that right when this thread came up I was talking with my insurance guy.........well, it's been a week plus and I am the one doing all the calls to him with a hem-haw attitude on his part and the proverbial "I'm on another call right now........will get the paper work together so we can review it.....will call you tomorrow"........yada-yada-yada. Last year my insurance lapsed because he went on vacation and "forgot" to do his part of the paper work. I'm fed up and shopping for another agent starting now.


Hey....we must have the same agent:hammerhead:

Fieldman12
08-29-2007, 09:54 PM
I have had some of the same issues with my insurance agent. Dad when to school with the guy and my grandpa when to school with his dad. Just about everyone in our family gives him business including Grandparents and Aunts and Uncles. He has recently moved more into the Auction side of things. It took him like three months to put my skid loader on. He forgot the paper work on his desk he said. I called him once several years ago to let him know I paid off the new tractor. He still has not changed that. To get one of our new farms added it took several months also. I can honestly say me and all of my family has yet to miss sending them there money on time in 40 years. He may be dad's bud but if he keeps messing up I'm taking business else wheres. Oh this is a good one. Some how for seven years I was paying cheaper insurance a sixty year old man would pay. Don't know how they messed that up. They had my age down. It saved me a bunch so could not complain. It was never stated on my paper work. They just finally found it after seven years.He just has too many things going on now I guess because back 10 years ago he was not that way.