When I bought insurance through Aon, it included full replacement value for 3 years. There was an extra charge for this. I received my policy and it included rig value at $300,000 (using demo numbers to protect the innocent). NADA value is close to this number. So far, all is good.

About one month after the policy is written, I received a request for a Bill of Sale. I bought this ring from an individual, and paid cash. I have an Invoice showing price paid was $200,000, since I did some extra wrk for the people I bought it from. In all honesty, I sent a copy to Aon.

Now I get a call that the Bill of Sale is not acceptable, they need one from a dealer where I bought the rig. Of course, I don't have this, even worse, the gentleman I bought it from has deceased. After mch discussion, I am told that the replacement vaue insurance is now limited to $200,000 not the agreed on $300,000.

1. Do you feel this is correct?
2. If you do, should I get a refund for the full replacement value portion of my policy?

Thanks, John

Hi John,

I have someone checking into your policy. We will contact you to review.

Thanks,