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What is Stated Value? Stated Value is coverage that reflects an amount that is “stated” at the onset of the policy. You tell your insurer what your car is worth (with proper documentation) and it is insured for that amount.
2 ημέρες πριν · For unique or hard-to-replace items, agreed value and stated value insurance can offer more coverage than a typical policy; With agreed value, an item will be appraised and then the value is agreed upon by both you and the insurer; Stated value is determined by you, the individual, and usually requires documentation of this amount for the insurer
4 Μαΐ 2022 · Stated value insurance sets a maximum value for insuring a collector's item, such as a classic car. It won't cover the full value, so be sure you know how it works.
8 Δεκ 2023 · Agreed value guarantees a payout based on what you and your insurer agree on when you take out your policy. Stated value means you determine your vehicle’s value, but your insurer can choose to pay the stated value or the actual cash value (ACV).
A stated value policy, often referred to as an agreed value policy, is a type of insurance contract where the insured and insurer agree on a specific value for the insured item, typically an antique, collectible, or high-value asset.
23 Αυγ 2024 · For a high-value or specialty car, agreed value insurance has benefits over a stated value policy, as it provides greater peace of mind in the event of a claim. If you do consider buying stated value insurance, review the terms and coverage carefully to ensure the policy meets your needs.
A Stated Value Policy, often referred to as an Agreed Value Policy, is a type of insurance policy that sets a predetermined value for an insured asset, typically a vehicle or a piece of valuable personal property.
