Quote:
Originally Posted by nathanbs
I think it’s an important conversation for the agent to have because he may learn that you think your car is worth way more than his computer screen is saying the car is worth. It is his duty to warn you of the potential worst case scenario. My agent did this with me and I simply told him not to worry as their computer is wrong and I feel like I would have no problem proving my cars are worth considerably more. In the event that someone justvperceived their car as being worth more an agreed value policy is pertinent.
|
It doesn’t matter one bit what the agent thinks a car is worth, that is solely up to the underwriter. It’s a useless conversation to have unless they are speaking on behalf of the insurance underwriter (when I have these conversations, they are always with both my agent and the underwriter on the phone at the same time). And even then, unless it’s an agreed value, there is nothing holding them to it.
The bottom line is that unless you have a stated agreed value, you really don’t know for certain what your insurance payout will be if you total the car and need it to be paid out. Without the agreed value you should surely expect a negotiation, in which case you may not feel like you’ve been made whole. With the agreed value they cut you a check no questions asked (if it’s totaled that is).