Terry,
As discussed in previous list posts, there is nothing wrong with "Agreed
Value", as far as the insurance company is concerned. They owe you no
more for a "total" than the normal "ACV" (Actual Cash Value). UNLESS
you have a current (to them) appraised (by an appraiser they agree is
acceptable in advance", and you have documentation of a "recent enough"
physical inspection appraisal. It's all on YOU to prove the value.
Otherwise it is the average of the last 10 sales in what THEY consider
close enough condition.
Nice deal - for them,
Might also have a few restrictions, such as limited to driving on
licensed Federal Holidays every 3rd 29th of February for no more than 10
miles, or 10 minutes, whichever comes first. No displays of speed, no
contests, no competitions (including Auto-X). Concourse could be next.
In other words, read the finest print, and know what they aren't telling
you. There ARE a few honest (but expensive) brokers out there with
almost livable terms.
Steve
Terry Morton wrote:
>Fellow Tiger owners,
>
>It is almost time for my insurance renewal and I'm considering shopping.
>Any companies to avoid (horror stories) or any highly recommended? What
>hidden issues are there with Agreed Value policies?
>
>
>
>Thanks for your input and advice,
>
>Terry Morton
>
>
--
-----
Steve Laifman
Editor
http://www.TigersUnited.com
|