Alberta Insurance question

[Canuk]

Are they talking about "The Automobile" that is insured under this policy though?
I'm reading it like the specific insured automobile would be covered if it were to be in an accident while being transported ... Then again its almost 1:30 in the morning and The whiskey's been tasting mighty fine tonight :d

I think that you are right... and the specific automobile in this case is my sled. This clause is specifically refering to the specified perrils clause within the comprehensive insurance that I have on my sled.

yes, this is confusing...

 

[sledderdoc]

All I did was leave comp. coverage on both sled and truck that way I'm covered for sure and all policies are thru the cooperators. In your case it will be a matter if cargo being insured or not, thats the real question and its dependant on your plan. :d Hope she's covered!

 

[SnowBunny25]

I was told by my agent that every motorized vehicle need its own policy with Collision in order to be covered for collision while being towed. This also goes for any uninsured motorized vehicles you may have in your shop at the time of a fire. Shop and contents are covered but not the toys

Yes this is what I was told as well.

 

[blastoff]

I got this from a guy that is a Ins. adjuster [post below], all companies offer different plans so my opinion check with your own company as to what you have!! My peeve is not having your broker throughly & openingly discuss things. When you have a claim you really find out what you have and what you dont have, sometimes it is not enough.

Normally,
Comp coverage will give you fire, theft, vandalism, as you indicate. Collision coverage would have to be purchased for the unit, or All Perils. The towing vehicle would only cover a sled if it were not yours. Ie; liability extends from the towing vehicle. It would not cover a non-owned trailer.
Do you not have collision on the sled. Comp ans Collision are usually sold together.

 

[sledslut]

Yeah my insurance company said when asked.. that the trailer is covered but nothing els. and wiht my sled deck if i get into an accident unless the sled has colision on it then iam goign to " pound sand" so jsut to be save all my toys have colision on them.

iam throught Foster Park Basket out of edmonton and been with them for over 7 years i do believe, never a problem " never had to get something from them before tho "

 

[Catman10]

I was told that I had to have collision on my sled to cover it in the trailer in case of an accident as well. I use the Co-operators.

 

[Canuk]

Update: The Final Answer

Ok, so they made me sweat a bit but i'm Covered. They have confirmed coverage of my wrecked sled with only comprehensive insurance.

One question i was asked was if the trailer remained attached to the truck then entire time.

 

[blastoff]

Re: Update: The Final Answer

Ok, so they made me sweat a bit but i'm Covered. They have confirmed coverage of my wrecked sled with only comprehensive insurance.

One question i was asked was if the trailer remained attached to the truck then entire time.

That took them long enough but good thing they covered and so they should give a guy a break once in awhile.

 

[snotterite]

My insurance company say's if I get into a wreck they cover trailer but not cargo , when i haul my buddies iron i tell them that there is no insurance , I happy with my insurance company they seem to look after me , mind you I'm fairly low maintance , looking to hear what others say , make sure you ask don't assume

Your trucks PLPD covers damage to property you donot own[friends sled], but doesn't cover your own sleds. Your collison coverage on your own sleds covers them.

 

[snotterite]

too bad insurance companies are just that...companies. they are in it to make money, if they can at all find a way out of a policy claim they will

They are far more fraudulant and scam claims than there is unresonable decisions by insurance companies.

 

[snotterite]

Re: Update: The Final Answer

Ok, so they made me sweat a bit but i'm Covered. They have confirmed coverage of my wrecked sled with only comprehensive insurance.

One question i was asked was if the trailer remained attached to the truck then entire time.

Because of the loose wording of specified peril coverage the wording is interperated in favour of the customer.
But you should get collison on both...then you dont have to sweat.
Just Specified Perils on the trailer will leave you holding the bag on the trailer.

 

[RETODD]

I’ve comprehensive and all perils.

My insurance man (my neighbour and friend) says that if it gets stolen, falls off a my trailer, falls off my buddies trailer, breaks through a lake, blows up, cracks up…etc…etc…I receive the $$$ I insured it for no matter the depreciation.

It is up to me to inform them of $$$ increase caused by any pricey mods etc.

 

[blastoff]

I’ve comprehensive and all perils.

My insurance man (my neighbour and friend) says that if it gets stolen, falls off a my trailer, falls off my buddies trailer, breaks through a lake, blows up, cracks up…etc…etc…I receive the $$$ I insured it for no matter the depreciation.

It is up to me to inform them of $$$ increase caused by any pricey mods etc.

I disagree on that one. It is worth Actual Cash Value or what that means is what the market price is. Just my opinion I would check into for a better explanation dont be fooled. This doesnt make sense or every body would throw in some stupid amount and make a claim.

 

[snotterite]

Many inadequate policies are sold everyday in Alberta to people because their broker doesn't have a clue what He or She is even selling. Or even how to interperate the wording.
They may in fact sell a policy to a person verbally promising the customer such and such. When a claim gets presented both Broker and customer are shocked to find No Coverage.
Many times the Adjuster is influenced by how prominate the Broker or customer is to their company. If the broker is a top seller the Adjuster may be advised by upper management to accept the claim even with out coverage.

 

[Canuk]

Good stuff to know. I"ll put collision on my sled just in case from now on.

 

[RETODD]

I disagree on that one. It is worth Actual Cash Value or what that means is what the market price is. Just my opinion I would check into for a better explanation dont be fooled. This doesnt make sense or every body would throw in some stupid amount and make a claim.

The $$ was taken off the bill of sale, I am insured for replacing that dollar value in case of a loss.

 

[blastoff]

The $$ was taken off the bill of sale, I am insured for replacing that dollar value in case of a loss.

Like I said dont be fooled. There is such a thing called repalcement value policy [43R]. To the best of my knowledge this only availble on a auto policy for personal use, it cannot be used on a business vehicle. I hope this doesnt start a p!ssing match here.
When I insured my NEW sled last year it was up to the value of my Bill of Sale amount BUT in the fine print it was Actual Cash Value!!! Ask your broker or ask a different broker for clarification.

 

[RETODD]

No p1ssing match what so ever...this is good conversation that leads to uncovering things we assume are true that might in fact not be. I'll have a discussion with him upon his return from Mexico next week...but meanwhile I'll get the policy out of the drawer and take a look.