Quote:
Originally Posted by camcojb
the ACV part is what allows them to look at comps. If they find a "comparable" car out there for a lower value than their policy, then that is their option to make that their payout in a complete loss. You know how many Camaros, Chevelles, etc. there are out there, and the values vary wildly. I don't want to have to depend on their adjuster to know the difference between my $75K pro touring first gen and and somebody else's similar looking car.
I am not saying what they'll do in that case, but I want a true "agreed value" so it's not even an option for them to lower their payout. This is the reason that guys like Mark above and companies like Infinity exist.
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OK. I understand my policy fully now. There is a "Collector Vehicle Specified Coverage Endorsement" section that I neglected to scrutinize. In this section the "Actual Cash Value" specification is replaced by the "Agreed Value" specification described on the Declarations page.