Quote:
Originally Posted by JMS935
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).
|
Yeah sorry I’m referring to the agent conveying what underwriting is valuing the car at. I agree with your summary of a total loss without an agreed value policy. I don’t mind the fight and underwriting significantly under values my carrera 3.0’s which translates to cheap premiums. Win win for me.