The Main Street America Group, Main Street America Assurance Company They want to pay a depreciated percentage for tools and equipment that were stolen while my trailer was on a jobsite and they refuse to admit that the trailer, while not attached to a vehicle, was cov Jacksonville, Florida
I am a home builder/contractor and travel to different states to set modular homes. While in MD on a jobsite last month (January 2012), my work trailer was forcably opened (broken into) and most of my air tools and a generator were stolen. A police report was filed by MD State Police, and the tools that were taken plus the damage to the trailer was reported to them at the time. The theft/burglary had occurred during the night over the weekend.
When I bought my insurance coverage, the agent I sat down with assured me that my trailers and contents were considered as equipment and were covered should anything happen, whether they were attached to my truck or sitting on a jobsite or in my driveway. That agent is no longer with Knolls Insurance, he retired a few years ago. All my information apparently retired with him, because now Main Street is trying to say I had no coverage on the trailers...I have four trailers, two are for work and two are recreational. The first Main Street agent that called said I should report the trailers on my auto policy....she gave me a different number to call and two days later I received a letter stating that I had no coverage on the work trailer on my auto policy. I reported the incident to my Insurance Agent (Knolls Insurance who carries Main Street) on my return home. I also had an estimate done for the repairs to the work trailer. The police report was faxed to them along with the list of tools and the damage estimate on the work trailer. A claim was opened at that time.
Two weeks later, I get a phone call from a tool distributor, their 'tool guy', trying to sell me second grade tools at his cost to replace what I had stolen form my work trailer...tools that in my 12 years of building experience, are nothing but junk. He had a generator that was not comparable or compatible to what I had stolen from me and the tools he wanted to sell me were tools that would last about a week on my jobs. The tools I had stolen were all name brand, repairable and maintainable tools. I had regular maintainence done on my equipment because most of the jobsites I go to are remote.
I gave a fair estimate to Main Street for replacement cost, and they, in return had a second rate 'tool guy' call me, without any notice that I would be receiving his call.
The estimate I gave just for the tools was for $7,700.00. The estimate to repair the work trailer was $1,699.00. Main Street sent me a check for $4,600.00 and told me that once I replace all the tools on my list, they would issue a second check for $1,700.00. I assume that was to repair the work trailer.
Now, I am trying to figure out how I am to replace $7,700.00 worth of tool for $4,600.00...even if I bought them from their 'tool guy', it would cost me over $6,000.00...which I refuse to do just on the principle of the matter.
Considering changing to an insurance company with the integrity to respect all hard working Americans who by chance, get into a situation where theft is not allowed to end their career.
2 Updates & Rebuttals
insureyou
Alabama,Policy
#3Consumer Suggestion
Sun, July 20, 2014
Let me give you the other side of the coin. I had someone ask me for liability only so that they could get a contract. (This is bad business for me) I told him that I had to at least insure his shop. Well, he had a fire a few months later.
The point that I am trying to make is this, there are good and bad agents out there for sure. Some of them would have just gave him the liability as he requested. The equalizing factor in all of this is your POLICY. If your trailers aren't listed in your policy then the insurance company does not know they exist. READ your policy and make sure your agent did his job. Things like these are too complicated to do on a hand shake. He could have simply forgot. (Which is not a good excuse, but it happens). Ultimately, a judge and the insurance company is going to wonder why you didn't read your policy. Sorry. I am posting this so you and others that read this post will do so in the future.
Also, with a homeowners policy it is a good idea to video tape things in your house and put it in a safe deposit box, if you have a lot of valuables. If you have single items of high value, be sure to tell your agent to add them to your policy. Paying 50 cents per month for a $20,000 oil painting may be worth it!
John
Greenville,South Carolina,
United States of America
This was not a ripoff!
#3General Comment
Tue, December 25, 2012
First off, your complaint as written is not a ripoff. Your complaint can not be against the insurance company, but against the agent IF you told him specifically that you wanted coverage for the tools and the trailer. I am very surprised that the company is paying you as much as you are getting since the policy forms limit coverage for theft to tools and damage to trailers. You MUST pay for an endorsement that specifically specifies the amount you need for the trailer and EACH tool. You also must state to the insurance company where the trailer will be - exact addresses and how it will be secured. Insurance is an assignment of risk. If the company does not know ALL of the risk and EXACTLY what you expect if a loss occurs, then you will probably will not be paid. This responsibility is yours as much as it is your agents. I agree, a good agent would have addressed these issues or face possible charges of Errors and Ommissions later. but again you are responsible to state your expectations.