Q: If pay a perium of $783 on a value of $40,000 on a commercial vehicle Sleeper tractor and value of $16,000 on a trl
Should i you I get paid of that value I was paying for that amount the insurance claim is only paying $20,000 for the truck & $6686 for the trailer for the loss of my equipment.
A: It could depend on the terms of the policy, whether you have an ACV (actual cash value) policy, (RCV) replacement cost value policy, or other arrangement. Review the paperwork that accompanies the proposed payment figures, including whether there are options for appeal, litigation, or arbitration - depending on the carrier. If you contemplate contesting the figures, you could review the terms of your policy (with an attorney if you choose) before signing any releases. If you consider disputing, and consider hiring an attorney to litigate, determine if it would be cost effective to do so first. If an attorney who handles your claim does not work on a contingency basis (but instead an hourly basis), that could further reduce your net payment with attorney fees. Good luck
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