Craig H. Nicholls wrote:
> I had my 1972 Triumph TR6 with a stated value
> for what I paid for from the PO.
>
> After 2 years I contacted them and they said I could
> increase it to $16,000 without an appraisal. I think
> the change cost me around $10 more per year.
Seems to me that the last time there was a serious discussion in this space
about insurance, it was pointed out that:
"Stated Value" means that the insurance company will pay the cost of repairs
or replacement, but NO MORE THAN the Stated Value. If the car is a write-off
or is stolen, the insurance company may still claim that the car was worth
LESS THAN the Stated Value.
But if the car is a write-off or is stolen and you have an "Agreed Value"
policy, the insurance company has to write a check for the full amount.
Is that still true?
Jim Hill
_______________________________________________
Support Team.Net http://www.team.net/donate.html
This list supported in part by the Vintage Triumph Register
http://www.vtr.org
Triumphs@autox.team.net
http://autox.team.net/mailman/listinfo/triumphs
http://www.team.net/archive
|