Like Tree0Likes

Insurance Co disagreement about value of stolen trailer

Reply
Old 01-05-2005, 11:42 AM
  #1
S.O.B (single O/B) now
Platinum Member
Thread Starter
 
t500hps's Avatar
 
Join Date: Sep 2004
Location: Richmond VA
Posts: 7,919
Question Insurance Co disagreement about value of stolen trailer

Does anyone have info about used boat trailers. I had a 2003 37-39 ft. 3 axle aluminum bunk w/ S.S. hardware and disks that was stolen. Insurance Co has depreciated it significantly. $7,595.00 new quote.....$6,075 their payoff. Should I be happy with that? I was looking for some comparables, but only found one and that is on this site. Any ideas???
t500hps is offline  
Reply With Quote
Old 01-05-2005, 11:51 AM
  #2
A to Z
Platinum Member
 
Sean H's Avatar
 
Join Date: Apr 2004
Location: KC/LOTO
Posts: 9,156
Default Re: Insurance Co disagreement about value of stolen trailer

i would say they aren't far off, two year old trailer, $1500 hit.....
Sean H is offline  
Reply With Quote
Old 01-05-2005, 11:56 AM
  #3
Registered
VIP Member
 
Join Date: Jan 2004
Location: Boca Raton, FL
My Boats: None
Posts: 3,682
Default Re: Insurance Co disagreement about value of stolen trailer

According to NADA they are about $600.00 light.
I would get a quote on the identical trailer from the same manufacturer in a new 2005 and then depreciate it two years. Depreciate it 18% for the first year and another 10% for the second year. This should get you in the ballpark.
Good Luck.
Edward R. Cozzi is offline  
Reply With Quote
Old 01-05-2005, 11:59 AM
  #4
Registered
 
Join Date: Aug 2002
Location: Eastern Lake Ontario
My Boats: 1989 Formula F-311-SR1
Posts: 2,896
Default Re: Insurance Co disagreement about value of stolen trailer

Quote:
Originally Posted by Sean H
i would say they aren't far off, two year old trailer, $1500 hit.....

I agree, take the money and run.
ThirdBird is offline  
Reply With Quote
Old 01-05-2005, 11:59 AM
  #5
Registered
 
Rocky's Avatar
 
Join Date: Oct 2002
Location: St. Louis, Mo.
My Boats: 1999 Formula 312
Posts: 77
Default Re: Insurance Co disagreement about value of stolen trailer

All insurance companies depreciate trailers and yours seems to be in the ball park for a two year old trailer.
Rocky is offline  
Reply With Quote
Old 01-05-2005, 12:54 PM
  #6
Registered
Platinum Member
 
Join Date: Jul 2004
Location: atlantic city, NJ
Posts: 1,852
Default Re: Insurance Co disagreement about value of stolen trailer

Welcome to America,I have fought it...you can use cozzis info.,that will get you a little more , then your done.
Byrdman is offline  
Reply With Quote
Old 01-05-2005, 12:59 PM
  #7
Registered
 
Join Date: Aug 2004
Location: Paducah KY KY Lake
My Boats: 39 Lip-Ship Cigarette 700 Zuls
Posts: 3,811
Default Re: Insurance Co disagreement about value of stolen trailer

Never take the insurance co. first offer.
customryder is offline  
Reply With Quote
Old 01-05-2005, 01:27 PM
  #8
S.O.B (single O/B) now
Platinum Member
Thread Starter
 
t500hps's Avatar
 
Join Date: Sep 2004
Location: Richmond VA
Posts: 7,919
Default Re: Insurance Co disagreement about value of stolen trailer

I was thinking the same thing about the first offer. If I'm going to get hit with higher premiums, I might as well get as much as I can towards the new one anyway.

Cozzi, Thanks for the info. The $7,595.00 is a quote from the previous manufacturer. NADA value after adding for Surge, disk x3, and spare with 15% added for aluminum totals $8,955.00 Low retail and $10,430.00 Average retail. I know I won't have to spend that much, but should those numbers be used as secondary comparables? Also consider the fact that this is calculated for a 38 ft trailer and we've had a 42 fountain on this trailer without overhang. (of course it was a Fountain!) [______>----
Nice pic huh?
Russ C.
t500hps is offline  
Reply With Quote
Old 01-05-2005, 01:33 PM
  #9
Registered
 
Join Date: Dec 2002
Location: 1000 Islands
Posts: 4,783
Default Re: Insurance Co disagreement about value of stolen trailer

you're premiums shouldn't go up. It's comp/theft. Not your doing.

Take it, that's a reasonable offer. Is it worth your time and delay in settlement for another couple hundred bucks?
Rippem is offline  
Reply With Quote
Old 01-05-2005, 04:16 PM
  #10
Platinum Member
Platinum Member
Trade Score: (1)
 
offthefront's Avatar
 
Join Date: Feb 2004
Location: Northeast,Fla
My Boats: 353 with Prochargers
Posts: 4,804
Default Re: Insurance Co disagreement about value of stolen trailer

Quote:
Originally Posted by Rippem
you're premiums shouldn't go up. It's comp/theft. Not your doing.

Take it, that's a reasonable offer. Is it worth your time and delay in settlement for another couple hundred bucks?
HA HA HA HA HA HA HA ..cough
offthefront is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Codered
General Boating Discussion
0
07-04-2008 04:44 PM
jefferyb
Beware and Stolen
3
06-23-2007 07:29 PM
Dixie Doug
Beware and Stolen
0
11-12-2006 02:33 PM
thisistank
General Boating Discussion
3
07-25-2005 08:25 PM
Panther
General Boating Discussion
16
08-16-2004 09:25 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 01:04 AM.


Copyright 2011 OffShoreOnly. All rights reserved.