Each year we renew physical damage coverage on trucks and trailers. We have the option and requirement of where to set the the levels of coverage. The more coverage, the more it costs. The insurance agents never know the value of any equipment at renewal time, so finding the sweet spot is up to the insured.
Funny how they can figure out the vehicle values in a matter of minutes if there is a claim. If you under insure, too bad. If you over insure, tough luck, it's only worth $X.
