Bruce
Derry,#2REBUTTAL Owner of company
Tue, May 24, 2005
John, Thanks you for your comments. However the rims were not shipped by me but by the person who sold them to me. That person insured them and I paid all the shipping cost. The real issue here is that the insurance coverage is by UPS Corp. not the store. The store has two options when insuring items they can use their ins. or UPS's ins.. So anyways, To replace these rims would cost me $2,780.00 not including shipping, Ins & handling. Or I could send out my rims and have them re-chromed for some where around $1,000.00 but UPS wants the rims if they pay any amount be it $600.00 or even $1,200.00. Basically I can not replace these rims for so little. Thanks for you comments, Bruce
John
Memphis,#3Consumer Suggestion
Tue, May 24, 2005
The UPS Stores are not operated by UPS. These are franchised operations offered by UPS. I made the mistake of using them to ship an expensive item a while back. Their shipping rates may be the same as the local UPS depot charges but their insurance rates are 400% what UPS charges. That's where they get you. They either self-insure the shipments or use another insurance carrier. Needless to say I use the local UPS depot exclusively. If you paid $698 per rim you should have insured for $1400. You would have been covered in full. I'd just take the $1200 and forget the courts. You won't win.
Robert
Jacksonville,#4Consumer Comment
Tue, May 24, 2005
Bruce, the insurance company would have already had the Gull Wing Mercedes professionally appraised for fair market value. Therefore, the insurance company would pay out the amaount it was appraised for. Now, if what you describe happened in say 5 years and the car's value increased, you would still only get the original appraised value, unless you had it appraised annually. Thus, you will only get what you paid for the rims, unless you can get a professional appraiser to give you a letter stating fair market value is much higher. Good luck, I wish you well.
Robert
Jacksonville,#5Consumer Comment
Tue, May 24, 2005
Bruce, the insurance company would have already had the Gull Wing Mercedes professionally appraised for fair market value. Therefore, the insurance company would pay out the amaount it was appraised for. Now, if what you describe happened in say 5 years and the car's value increased, you would still only get the original appraised value, unless you had it appraised annually. Thus, you will only get what you paid for the rims, unless you can get a professional appraiser to give you a letter stating fair market value is much higher. Good luck, I wish you well.
Robert
Jacksonville,#6Consumer Comment
Tue, May 24, 2005
Bruce, the insurance company would have already had the Gull Wing Mercedes professionally appraised for fair market value. Therefore, the insurance company would pay out the amaount it was appraised for. Now, if what you describe happened in say 5 years and the car's value increased, you would still only get the original appraised value, unless you had it appraised annually. Thus, you will only get what you paid for the rims, unless you can get a professional appraiser to give you a letter stating fair market value is much higher. Good luck, I wish you well.
Bruce
Derry,#7REBUTTAL Individual responds
Tue, May 24, 2005
Robert, If Your Mother sells you her Gull Wing Mercedes for $1.00 because she is getting on in years and you take ownership and insure it for a realistic value of $135,000.00. No some idiot burns the car and now the insurance company wants to know how much you paid for it. Go ahead and tell them you got it for $1.00 like an idiot and let them payoff.
Robert
Rochester,#8Consumer Comment
Mon, May 23, 2005
Suppose that I go to the Dollar Store and buy a cheap plaster statue... for $1 of course... Ship it UPS and insure it for $1200. Do you honestly think that they would pay the $1200 for the $1 statue. Its the samething with your homeowners insurance. I have a policy that covers up to, lets say $150,000. The insurance company is only going to pay for the actual damage, UP TO the limit of the policy. A $1,000 item is not going to net me $150,000. You cannot make more than what you paid for the item. I know... your problem is different. Your report was a little confusing. How much did you actually pay for the rims? I wish you luck on this. Small claims court sounds like the way to go, but I really don't think you will win more than what you actually paid.