Quote:
Originally Posted by LONGHAIR
That is not true at all. The only reason you ever have to repair a vehicle after a crash is if it is financed.....and then only if you don't choose to just pay the bank off. You still owe the balance of the financed amount and no longer have their collateral. So you have to pay them from the insurance check you receive.
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I am thinking maybe you misread my post or I wasn't clear. I never said you have to repair the vehicle. Only that with a stated value policy, it is exactly that. What you state the value of your vehicle to be. You still have to prove to the insurance company that the vehicle is worth that amount when you have a claim. All of this goes out the window when dealing with someone elses insurance though.