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Originally Posted by tangofox007
First, I will need for you to send me, via certified mail, a copy or your insurance qualifications. On official letter head (sic), of course.
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Wow, this and your previous rants in this thread prove that untreated diesel exhaust isn't toxic and also promotes good grammar.
Quote:
Originally Posted by tangofox007
In any case, the agreed value of $17,150 is specified right on the declarations page.
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You could have been more specific about what type of coverage you have. Some here have been caught out by thinking Stated Value and Agreed Value were interchangeable only to find that their Stated Value policy would not fully cover them.
For the benefit of others, here is a bit from
https://www.hagerty.com/insurance/insurance-tips-and-resources/stated-value-vs-guaranteed-value
Quote:
Actual Cash Value.Because most cars begin depreciating the moment they’re driven off the lot, standard insurance companies insure your cars accordingly. They will adjust your payout based on what the car would be worth the day of the accident (prior to any damage occurring), instead of what you originally paid. This is referred to as a vehicle’s Actual Cash Value.
Stated Value is coverage that reflects an amount that is “stated” at the onset of the policy. You tell your insurer what your car is worth (with proper documentation) and it is insured for that amount. The caveat here, however, is that the insurance company can choose to pay you either the Stated Value or the Actual Cash Value, whichever is less.
Alternatively, Agreed Value, coverage primarily offered by specialty insurers, is based on the proven value of your car as determined by you and the insurance company, according to appraisals, photos, or other relevant documentation. With Agreed Value coverage, the insurance company will guarantee that they will pay this agreed-upon value in the event of a covered total loss.
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