Is it ethical (legal) to claim a total loss of $22,000 against my personal property portion of my Homeowner's policy for a Kubota tractor (Model BX25-D) which was totally destroyed as a result of a barn fire which occurred on my property (ruled accidental in origin). I financed the tractor, thru the seller, Rhode Island Harvesting Company from Kubota Credit Corporation, USA, and the insurance from written by (my assumption is underwritten by) KTAC Insurance Agency. This tractor does not require a to be titled or registered, by state regulation, so I am told, which basically means that it does not require insurance of its own (did I mention its only one (1) month old). So, I think, the question becomes can I ask (demand) my insurance carrier pay me for the value of the loss.
Rhode Island

About The Expert

Amy Bach

Amy Bach has been a professional advocate for insurance policyholders since 1984 and an attorney since 1989. She co-founded United Policyholders in 1991 and serves as the organization's Executive Director and primary spokesperson; shaping and overseeing the Roadmap to Recovery™, Roadmap to Preparedness, and Advocacy and Action programs. She is a nationally recognized expert on insurance claim and legal matters; frequently interviewed in print and broadcast media, and the author of numerous publications including "The Disaster Recovery Handbook", "WISE UP: The Savvy Consumer's Guide to Buying Insurance" and consumer tips and guides in the UP Claim Help Library.  Recognized by Money Magazine as a Money Hero, Bach is in her eighth consecutive term as an official consumer representative to the National Association of Insurance Commissioners, and is a member of the Federal Advisory Committee on Insurance.