Most state laws state that they have to pay up to the value of the item damaged. So you have a nice JD B that gets stolen or what ever. The insurance company only has to pay up to market value to replace it. Not what you have in it. That isn't the company ripping you off that the company following the letter of the law. You may find an agent or a company that will sell you a policy that states your tractor is insured for 10K but can get out of paying that much because of the law. You may get lucky and get paid that 10K but you may wind having paid extra for nothing. Trust me, your insurance company has lawyers who know a heck of a lot more about your states insurance laws than you do and advise that company on exactly what they can and can't do.
As far as dealing with an insurance company is concerned most states give you the right to contest the decisions of the company but that can get expensive. The insurance companies know that and that the average person isn't going to spend a couple of grand in leagal fees and on an arbitrator.
Gotta remember that most agents don't work directly for the company. They work for an angency or own it. That way the insurance company isn't responsible if the agent misleads you. Some insurance companies are hiring outside adjusters much for the same reason.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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