Quote:
Originally Posted by BILT4ME
I have State Farm on my Studebaker with a stated agreed value of $5000.
|
Whoa, nelly. Which is it, stated or agreed? These are two totally different things.
STATED: You state the value, pay your rate based on that, and when it's totalled, THEN the insurance company decides what the actual value is, regardless of what you stated it was.
AGREED: A decision is made in ADVANCE as to what your vehicle will be worth in the event of a total loss.
You really don't want stated value.