Posted by JohnD [71.246.84.207] on Sunday, May 25, 2014 at 07:37:39 :
In Reply to: Insurance posted by Caleb [138.210.205.222] on Saturday, May 24, 2014 at 22:04:02 :
Caleb,
I think the opposite is true.
They will charge you a premium for the amount of coverage that you ask for on a sliding scale. Don't assume you will ever get the maximum coverage that you paid for because they will total the truck and give you the value based on the value that THEY establish.
I bet that the insurance companies love it when a vehicle owner wants high coverage for "their baby" when the insurer knows they will never need to pay the maximum. Don't forget about the deductible also.
In my view, you would be better off insuring your truck for a lower amount of value and save on the premium because in spite of the fact you paid the higher premiums, your settlement will be based on trucks that sell for $5000 instead of the $20,000 trucks that are the exception rather than the rule.
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