Posts: 2323
Location: Stevens Point, WI | Ok, I talked with my dad, who is a StateFarm Insurance agent. I had him read over this thread and here is what he said. He called claims department and discussed with a claims adjuster about this issue. Claims said by law they would have to go by what is on the application. However, if StateFarm were covering this, they would submit a coverage question to their supervisor and since it is apparent the agent failed in properly assessing the value of the trailer either the company would cover the additional cost up to the value of a 2005 trailer, just like how a total loss on a car is handled. But, if the policy states replacement cost coverage, DO NOT expect to total out your 1975 Ranger boat and have the insurance company buy you a new one. The thing my dad encourages everyone to do is visit your agent yearly and go over all your insurance policies---protect yourself!
Edited by Merckid 12/21/2007 2:50 PM
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