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| So I got a called into our insurance guys office and he is looking to change our 1970 silage trailer to farm machinery instead of keeping it on the policy as a trailer. Well the problem with that is there will not be a “replacement” value/cost now like there used to be set at 38,000. Heck to replace a chain floor silage trailer is 50-60 grand for a used one these days alone. Now I guess there is no value and the adjuster will just decide what it’s worth AFTER there is an issue and compare it to other trailers of its age. I told the guy, Well how many rebuilt and working 1970 silage trailers do you know of?? And he said none. So upon asking him what he thought the pay out would be he shrugged his shoulders and said probably scrap price by looking at it and laughed alittle.
I also have a restored 76 cattle pot and an 82 grain trailer he mention could be considered machinery. I don’t understand why that would even be a good deal. Or why I would consider this. Unless im missing something??? The yearly payment is a fraction of what is was but still. If we break that 70 chain floor we need to have it replaced. Some punk kid could be adjusting that day and just see “old junk”. It’s completely based on what his opinion is. All our other stuff has a set value to this day. Is this not how modern insurance works?
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Trailer insurance vs machinery insurance odd question
