Re: stated value insurance
Jay Laifman (Jay_Laifman(at)countrywide.com)
Fri, 1 May 1998 07:52:35 -0700
I have learned from a very good source (a Tiger owner who is also an
employee at a insurance company) that the fine print on a "stated value"
policy still allows the insurance company to adjust the value based upon
the market at the time of the damage. And that you get into fights with
insurance companies over what they will pay even with the stated value
policy - the only difference is that you have paid higher premiums for the
policy. He said there is one policy called an "agreed value" - those are
the ones where they don't fight the value. Both policies require
appraisals.
Jay