03-04-2019, 02:02 PM
RustyCorrect value insurance
quote:
Originally posted by benebob:
Read the fine print on an agreed value policy. Some of the big companies will sell you a policy that is agreed value but in the fine print it states they will pay the lesser of the two (their adjusters valuation or the agreed value). I raninto this when trying to get my TVR stacked with my otherta'svehicles. I stuck with haggerty knowing my baby will be worth what is agreed for that year.
That is NOT an agreed-value basis; that is "Stated amount", which sprang up during the surge of the $5K Chevy Nova and Ford Pinto, during the Arab oil embargo. Cars were being traded at unrealistic prices, so the old "stated amount" was reestablished. It's common for some items to have always been valued that way. But agreed amount is just that.
Rusty
"StaRV II"'94 28' Breakaway: MilSpec AMG 6.5L TD 230HP
Nelson and Chester, not-spoiled Golden Retrievers
Sometimes I think we're alone in the universe, and sometimes I think we're not.
In either case the idea is quite staggering. - Arthur C. Clarke
It was a woman who drove me to drink, and I've been searching thirty years to find her and thank her - W. C. Fields
03-04-2019, 07:57 PM
L78steveWell I got the appraisal and the Insurance company gave me an agreed value policy on the Barth.
It does cost a bit more but I feel its worth it.
03-04-2019, 10:33 PM
KevinAre you willing to share the appraisal with our community Steve? I suspect most members are eager to know where a Barth stands next to a Stick an staple Motorhome. Did the appraiser add
BARTH to their list of Appraisals?
03-05-2019, 08:12 PM
L78steveI don't know if they will add Barth to their list.
The Barth appraised out at 42,210.
03-05-2019, 09:51 PM
KevinSteve,
Appraising at 42K is outstanding!
When I bought mine in March 2006, progressive gave me an agreed value for $40,000 for 10 years, after 10 years it is acv. All I had to have was an appraisal or bill of sale.