1 type of insurance is Actual cost replacement so if it was 75,000 to replace thats what you would pay on. 2nd would be Stated amount.. so you said it is worth 50,000 and you paid on that. When our rail was stolen State farm did actual replacement even though we paid on a cost of 50,000... they paid 55,000 with taxes insurance and registration.. they paid me over the insured amount. Wasnt much but hey every little bit helped.
For those that dont know I had enclosed trailer taken with all my tools and crap..
Keep your reciepts.. very important if you need to use the insurance..
Homeowners helped with the trailer but only for 1,000.00 but all my tools where under howmowners policy as it was in the driveway.. They wanted a seperat binder for the trailer with full coverage..
Capt