Determining insurance value?

If the truck is ever totaled, they are only going to pay market value, or slightly less. I claim my truck at a lesser value than what I would sell it for. In other words, if you hypotheticaly had that KW valued at $40,000 (doubt you do), you wont get 40 out of it from the ins co. They will give you market value, or what you valued it at, whichever is less.

 

I would go to truckpaper dotcom and research all the 99 W900s that are on par with yours. I would guess you are somewhere in the 20-25k range. Or call Taylor and martin and feel em out. Try truckpaper first, you should easily get a feel for the value.

 

NS. Probably closer to 15 but I didnt want to insult the guy. The price he paid is irrelevent as long as he knows how the game is played. An insurance co will glad let you pay a premium of 100k on a truck with a real value or 50k, but if he wrecks it he'll only get the 50.. This 99 W900 may also just had a $15,000 inframe done, but unless that is addressed in the policy, the ins co wont care.

 

All of the above are true. Since I am an agent, I have to deal with this all of the time. However there are companies out there with "Cost New" Physical Damage policies instead of "Stated Amount" like you have with Progressive. These companies are a little more kind.

I would find a few online and go from there. When Progressive comes in, this is exactly what they do I've been told by people that have claims. They find comparable vehicles and do not take into account anything you have done to or for the truck.

Not all companies are like this though.

 

Yes maam. The inframe does entail a different IRS depreciation schedule, since it prolongs the truck life. I wasnt certain of how the insurance co would handle the inframe though if a guy didnt inform them of this work. Thanks!