Have I said lately what a great company State Farm is? :-) :-)
Well, somehow my agent convinced State Farm that the several thousand
dollars of losses on my boats over the years were FAR out wieghed by
the lack of claims on our cars and house...ie, they were making
plenty of money off us, all things considered, and they reinstated
the boat policy. Is still around $300 a year.
I also asked them about coverage on a total loss. I was never clear
on this. They said that the boat and sails were insured for 42K and
the trailer for 3K. In other words, if it was totaled today (4 years
after I bought it) they would pay me what I paid for it (45K). Hard
to believe, but that what they say...ie, no depreciation...the policy
will always pay off the original limits of coverage in event of total
loss. Good deal if it is really true.
Ken
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