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Papa Rick · Joined: 07 Sep 2006 Posts: 307 Location: North Alabama

I am in the process of buying my first truck a 1985 FLC Freightliner to do logging with. My question is this: I am going to carry physcial damage on the Truck just in case something happens and it gets wrecked, either by me, or hit by someone else.

The insurance company is asking me to give them a dollar amount of how much I want on it. They told me that they would only pay what the Truck is valued at, not how much I have on it ???

That doesn't make sense to me, but anyway, how can I find out what this Truck is actually worth

Rev.Vassago · Joined: 04 Apr 2006 Posts: 5159 Location: Green Bay, WI

http://www.trucks.com/services_blackbook.asp

$4 per valuation.

brian · Joined: 02 Jan 2005 Posts: 996 Location: over here

just value it at 10 grand, even if they value it at a few thousand less your only paying a couple extra bucks a year for the coverage.

Papa Rick · Joined: 07 Sep 2006 Posts: 307 Location: North Alabama

I went to the blackbook for Big Trucks, but it only covers 10 years and newer?

solo379 · Joined: 14 Feb 2004 Posts: 3127

Practically nothing! I'm with Brian, on this one! :wink:

GMAN · Joined: 13 Feb 2005 Posts: 9282 Location: Tennessee

Not knowing the condition or how it is equipped, it would probably be worth in real dollars around $7-8M. I think you would be safe with $10M on the insurance. Truck insurance is rather peculiar. You can insure it for whatever you want, but they will only pay market value for it if you have a claim. Premium should run about 3-4% of the stated value. :?

Rev.Vassago · Joined: 04 Apr 2006 Posts: 5159 Location: Green Bay, WI

GMAN wrote: Not knowing the condition or how it is equipped, it would probably be worth in real dollars around $7-8M. I think you would be safe with $10M on the insurance. Truck insurance is rather peculiar. You can insure it for whatever you want, but they will only pay market value for it if you have a claim. Premium should run about 3-4% of the stated value. :?

I would really hate to pay the premium on a 10 million dollar truck. :wink:

GMAN · Joined: 13 Feb 2005 Posts: 9282 Location: Tennessee

You are rich, Rev. You can afford it. :wink:

Papa Rick · Joined: 07 Sep 2006 Posts: 307 Location: North Alabama

Thanks everyone, I appreciate the info, and will put Ten Thousand on the Truck. I appreciate it very much.

sidman82 · Joined: 21 Jun 2006 Posts: 395 Location: Long Island,NY

I have always wondered why G-Man always writes M after dollar amounts instead of G. You know.... $10G meaning $10 grand. Fill me in if it means something else. :nervous:

Mackman · Joined: 14 Sep 2005 Posts: 2235 Location: Concordville PA

IF GMAN says "M" he really means to put a K for 1,000
Everyone else uses K but when GMAN uses a M he means K its a old school thing i guess :?: :)

SteveBooth · Joined: 18 May 2005 Posts: 3501

I think he's a trucker in Rome or something. They all wear masks over there and use M and III and stuff like that.

GMAN · Joined: 13 Feb 2005 Posts: 9282 Location: Tennessee

sidman82 wrote: I have always wondered why G-Man always writes M after dollar amounts instead of G. You know.... $10G meaning $10 grand. Fill me in if it means something else. :nervous:

It means the same thing. Anytime someone uses a "G" or "K" they are using slang terms. "M" is still commonly used, along with other Roman Numeral designations, in most legal business applications such as copy-writes. The next time you watch a movie, hang around for the credits and you should see the copy-write using Roman Numerals. I prefer the accuracy of using Roman Numerals. I suppose it is an "old school" thing. But not too old school. The use of "K" seemed to start being used in this country when metrics and personal computers came into vogue in the 1980's. Before that everyone would normally use "M" to designate 1,000. I have never liked metrics. It was started in this country to go along with a world standard for things such as machined parts, etc., I believe it was President Richard Nixon who began the change to metrics, when he was still in office, around the time he took our money off the Gold Standard. The use of "G" for 1,000 probably began being used in the 1920's or perhaps as late as the 1940's in this country. It was made popular when some of the early gangster movies began using it.

Rev.Vassago · Joined: 04 Apr 2006 Posts: 5159 Location: Green Bay, WI

GMAN wrote: sidman82 wrote: I have always wondered why G-Man always writes M after dollar amounts instead of G. You know.... $10G meaning $10 grand. Fill me in if it means something else. :nervous:

It means the same thing. Anytime someone uses a "G" or "K" they are using slang terms. "M" is still commonly used, along with other Roman Numeral designations, in most legal business applications such as copy-writes. The next time you watch a movie, hang around for the credits and you should see the copy-write using Roman Numerals. I prefer the accuracy of using Roman Numerals. I suppose it is an "old school" thing. But not too old school. The use of "K" seemed to start being used in this country when metrics and personal computers came into vogue in the 1980's. Before that everyone would normally use "M" to designate 1,000. I have never liked metrics. It was started in this country to go along with a world standard for things such as machined parts, etc., I believe it was President Richard Nixon who began the change to metrics, when he was still in office, around the time he took our money off the Gold Standard. The use of "G" for 1,000 probably began being used in the 1920's or perhaps as late as the 1940's in this country. It was made popular when some of the early gangster movies began using it.

Or, instead of having to explain this every 4 days, you could just put K like the rest of the world.

Just sayin'. :wink:

GMAN · Joined: 13 Feb 2005 Posts: 9282 Location: Tennessee

Sometimes I can go an entire week without someone mentioning it. :P :wink:

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