[Leica] Leica camera & insurance

[Brougham <brougham3@yahoo.com>]

Mike Leitheiser <flyh2o@worldnet.att.net> wrote:

> The "repair or replacement" language is boilerplate that is standard
> when property is insured on an ACV basis too....Reread the ENTIRE
> policy...State Farm is going to pay you ACV from what you wrote. What
> your agent is telling you is that they want to collect a premium for
> $2,500 in coverage (as an example) and then give you only a small
> portion of that in the event of a total loss based on what they claim
> they can get it for.....like replacing your 2 year old M6 with a grey
> market job.

Thanks for the advice, Mike.  I'll read my policy carefully.  The
agent told me that in the end, I would end up with a brand new version
of what I have listed.  If I didn't want to replace it with the same,
they would give me the cash for what they could replace it for.  If
they couldn't find somebody in their network, I could buy it from the
same dealer, and they would pay.

That said, I trust insurance agents about as much as politicians.  :)


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