Location: Grand Rapids, MI | Unfortunately Labs is right, you signed the app and therefore agreed to the amount of insurance, even if the agent screwed up. Your policy probably reads something like this in the event of a total loss to your trailer...
Pay the lowest of:
- The replacement cost of your trailer.
- The amount actually spent for necessary
repair or replacement of your
trailer.
- The Amount of Insurance shown on
the Declarations Page.
So, in most cases they will try to find a used trailer. However in your circumstance finding a trailer that matches your boat will probably be tough. In which case they won't pay more than the amount of insurance stated on the policy.
You could sue the agent for the difference but it will be your word against his. Again, because you signed the application how can you prove that the agent didn't explian and review the coverages and limits.
Tough sistuation for sure, I hope they find a trailer for you. |
