Yeah, I know, I also usually delete every post with this subject line...
Remembering a past thread (I don't think that word is on bad) on "stated
value" versus "agreed value" insurances, I finally got around to calling
State Farm to see what kind of insurance I have. I have regular car
insurance, but SF had made me get my car appraised for the comprehensive
insurance.
Naturally, I assumed that this value ($4200 as appraised by the local MG
club) would be what I get when my car gets stolen so I would like to see
a high appraisal.
It turns out that this appraisal serves only for the insurance to
determine how much of a premium to charge me. If my car gets stolen, the
amount of money that the insurance pays me is subject to debate with the
adjuster. If the adjuster is good at his job, he will try to give me as
little money as possible.
This is "stated value".
Agreed value can only be done with a collector/historic insurance with
restrictions. SF has a list of commercial appraisers who they accept I
was told.
Just FYI,
Ulix __/__,__ ___/__|\__
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'67 Sprite '74 X1/9
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