Insurance and commercial mowers$$$

Discussion in 'Lawn Mowing' started by mindstream, Jul 26, 2005.

  1. mindstream

    mindstream LawnSite Member
    Posts: 6

    Well, I was just checking in to see how much it would be to add the '99 Dixie Chopper Diesel 60" onto the insurance policy (I'm an idiot for not doing it before now I know) and the insurance company wants to know a value for the mower. I asked if that meant what it's worth sitting there, or what it would cost to replace it, and they said that was up to me. So what would you do? If the thing gets burned/stolen etc, I need to be able to replace it, but that would be like $14k vs the $7k I spent on it. I could probably get something similar for the $7k, but this one only had 600 hours and I know the prvious owners and how they cared for it. Anyone have any thoughts on how you handle this?

    Thanks,

    Darren
     
  2. Scapegoat

    Scapegoat LawnSite Member
    Posts: 249

    I base mine on replacement cost. If something is stolen or damaged how much will it cost to run out and grab a new one just like it.
     
  3. Precision

    Precision LawnSite Silver Member
    Posts: 2,995

    you will find that the difference between the two prices isn't very much. Go for the good policy.
     
  4. Tharrell

    Tharrell LawnSite Silver Member
    Posts: 2,964

    Your insurance guy should tell you the price difference. I would go for the replacement cost if it were me. I mean, that's why you're adding it to the policy, right?
    Btw, post us the additional amount either way you go. I'm interested in finding out how it goes.
     
  5. deereman

    deereman LawnSite Senior Member
    from USA
    Posts: 518

    You can put any dollar figuire on that mower that you want.....I mean way more than what it is worth. But if something happens to it they are only going to pay you what the value at the time of loss is. They have there numbers trust me. The more you say it is worth the more you pay. but like I say when a claim is made out on that policy they will go for avg. value and they will start on the low side. An insurance company is out to make a buck.And they sure do a good job at it too.They are only looking out for themselves first and you well............second. ;)
     
  6. iluvscag

    iluvscag LawnSite Senior Member
    Posts: 741

    Put it on the good policy.
     

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