There is a limit on the policy declaration page; 5k. I find that to mean Progressive will pay to replace items up to the policy limits. Did I think they would pay all 5k toward the Rolex on my wrist, no that is scheduled on my homeowners because it is of high value and an unusual item. However, the 500 limit is applied to each and every item on this policy. This cap is not explicitly disclosed on the declaration page and that is the part I find most offensive and a scam. This "Replacement Cost Personal Items" coverage is useless and "Flo's" right to their bottom line. When I was in b-school (a term I imagine means noting to the demo on this forum), top 10 by the way, we did several cases on this company. Progressive is a marketing company selling insurance.
Should I feel cheated, I can always have my day in court, like our founding fathers intended. Wrong again, that right is gone too, we consumers have no access to the court system anymore. This, like most every contract you sign these days, from the phone in your hand, to the car you buy, your bank, gym, carpet cleaner, to sweet Flo from Progressive, who would never cheat anyone, all have "binding arbitration" where the proceedings are closed door and the odds are stacked against the consumer. (The arbitrator wants repeat business right?)
Bottom line here, this is not the coverage they sold me, Progressive did disclose it to me deep in 50 pages of fine print. I feel cheated and I haven't even suffered a loss. At least I know now, should I suffer a loss, I am not Pollyanish enough to believe that my Honda Generator, or iPad, or that suit in the closet, is actually going to be replaced by Progressive with new like my declaration page states; won't happen, not with this policy anyway.
This begs more questions; is the TV that is permanently installed in the rig a personal item? My attorney is 500/hour, I imagine it would take him two hours to read the disclosures, cross reference and answer my question.
Be aware and informed.
~surfride
