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Stated value: You: Hey, I want 20k coverage. Them: Okay, we'll cover your car for a 20k policy.Once you get in a wreck, they don't cut you a check for 20k but you'd have hoops to jump through to prove your car was worth 20k. Agreed value is the insurance and underwriters AGREEING your car is worth 20k so that in the even of a total, they will cut you a check for the agreed value.
1993 TT. R.I.P. 09.15.2010 |
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