[Healeys] insurance

Al Malin amalin at mac.com
Fri Nov 7 12:41:02 MST 2014

Found this on the web - it explains the difference between Agreed Value vs.
Stated Value vs. Actual Cash Value


Al Malin

> On Nov 7, 2014, at 1:32 PM, ruvino at ripnet.com wrote:
> A little background.
> Recently we had a break in and my wifebs jewellry was stolen. The best
> pieces had been appraised 15 years ago and were listed on the policy
> individually for which we paid an extra premium.
> Well when it came time for the insurance company to pay out they had the
> pieces re-appraised by their jeweller and the values came in less than what
> they had insured for. itbs a long story but buried in the policy was a
> statement to the effect that they had the right to re-appraise.
> So after paying an extra premium for 15 years it didnbt matter, they would
> only pay what they deemed appropriate.
> So why this story?
> I got wondering about the policy on my car. I have assumed all along that
> appraised value is what the insurance company would pay out if say the car
> burned to the ground. I checked and was verbally given an assurance that
> is the case. My insurance is with Hagerty through a broker.
> You might want to check with your insurance company.
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