CoolVT@aol.com wrote:
> Kevin,
> .... That is for full coverage
> with $400,000 liability with an "agreed upon value" of $13,000 for the car.
>
> There are very few restrictions. I believe I'm allowed about 5,000 miles per
> year.
>
> There was much discussion on the "agreed upon value" and what a company
> would really pay in the case of a total loss, so you should definitely ask a
> lot of questions so that you would be totally sure of what you are buying.
>
> Mark L.
>
> ps. the car has to be stored in a locked garage and had to be appraised
> also, I have home and 4 other cars insured with this agent, so my
> rates might
> be a little better
Mark,
This is in line with the post I sent out a few months ago. Most cars are ACV
(Actual Cash Value), and I can tell you Jay is having a real hassle in even
getting the car correctly costed for repair. The adjuster is using VW figures,
and doens't understand the deifference between a bolt on body parts and uni-body
with 6 layers in the side beams. He finally got it straightened out, but he's
an
attorney.
Stated Value is the one most people think protects them, and as Jan has pointed
out, it just limits the insurance companies liability. They will pay you a lot
less unlesss YOU PROVE value. All you've agreed tro is the maximum they'll pay.
Agreed Value seems to be the correct form, but not many companies will offer it,
and you have to pay for appraisals at the beginning, periodically, and with a
claim.
Any other's out there with Insurance solutions. Especially for people who
actually drive their cars for pleasure, not commutting?
BTW: Keep taking car photo's with a current newspaper date in full view.
Steve
--
Steve Laifman < One first kiss, >
B9472289 < one first love, and >
< one first win, is all >
< you get in this life. >
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