That's pretty much the conclusion I came to when I researched auto
insurance.
"Agreed Value" seems to be accompanied by restrictions that prevent you
from using your car as a daily driver.
"Stated Value" is one of those things that might give you peace of mind
until you actually have to make a claim, at which point you're at the
mercy of the insurance company who can choose to ignore it and give you
what the original price of the car was less depreciation, which comes
to, um, not a lot!
If AAA really will use that number as the value of the car, it sounds
like a good option, but I'm suspicious, based on what I've read online
and what the few agents I called told me.
Phil
------------------------------
Date: Wed, 03 Nov 2004 11:10:43 -0500
From Jay Fishbein <type79 at ix.netcom.com>
Subject: Re: Insurance (U.S.)
Glen,
I recommend you read your policy. Unless AAA is reinventing the wheel,
it is either one or the other. If you want me to read it, fax it to me
or scan and email it. I would be curious to see it myself.
The fact that they told you to keep documentation and photos to verify
the condition after a claim, leads me to believe it is not "Agreed
Value" coverage.
- --
jay fishbein
wallingford, ct
http://home.ix.netcom.com/~type79/
<http://home.ix.netcom.com/%7Etype79/>
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