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Showing results for tags 'deductable'.
Found 2 results
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I'm going over to meet with my insurance agent on Wednesday to talk about my bike coverage and adding the new trailer to my policy. I have no issue with my current policy, as I have never made any kind of claim on my bikes or cars, but want to be clear on the terms he keeps bringing up in our e-mail exchanges. The term is "cash value" which I understend, if I'm correct is what it would cost to replace the vehicle or trailer at the time of loss based on KBB or other info they use. I know some of the headaches many have gone through concerning the value, based on what the bike/trailer was worth to them, compared to the insurers opinion based on their data. I try to keep a current file of bikes similiar to mine that were sold to document the prices on the current market in case I ever suffer a loss. Along with that prices of the parts and farkels I have added over the years, which adds up. I can't whine about the cost of my bike policy as it's only $269.00 a year for full coverage. I'm considering dropping my deductable to $100.00 and that would only raise me to $290.00 per year for full bike coverage, Deductable of $100.00 per vehicle as the deductable would apply to both the bike and trailer seperatley. At the current deducable the trailer (paid $250.00) would about be a wash. Any advice on how to look at this? Mike
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I've negotiated an Actual Cash Value of $5800 for my 91 Venture Royale of 9650 miles, with my insurance co. It was tough negotiating but I feel that I did really good. So $5800 minus $250 deductable minus $300 Salvage = $5250. Inaddition I'll get $1050 for my riding gear.
