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Beacon would only allow me to declare the value of my Vino 125 at the price I paid for it or the retail book value, whatever is greater. They told me I could raise the declared value of the bike if I submitted receipts of work I did to the bike and that's it.
That could be one potential downside with Beacon, but I think the main problem is the brokers. I went in back in May to cancel my coverage for my CBR 125R when I sold it, only to find out earlier this month that they did not cancel my coverage. No big deal as I just simply transferred the coverage over to my Vino, which I should check if they actually did, but it would've been a big deal if I wasn't.
Did you happen to deal with a popular Beacon broker on Broadway?
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