Quote:
Originally Posted by GotaT
I couldn't agree more! So what I was thinking early on was what you just said. The dollar figure is based on the buyer and vehicle attributes, and absolutely 2 identical cars Side by Side .. its only obvious. but when it comes to an actual Agreed Value then they would be the same.... as far as insurance and "avg retail" would be concerned.
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Not necessarily. "Agreed Value" with respect to insurance is still the same as agreed value with a buyer, it's just that the insurance company is only a
potential buyer and, in reality, they do not scrutinize the car as thoroughly as someone who will actually take ownership. If a car's "ducks are in a row", including legitimate VIN's, the insurance company will be satisfied.
What it comes down to, IMO, is how open one wants to be with disclosure of reissued VIN's, and how agressive the insurance agent wants to be with researching the current market for a particular car. One could argue a reissued VIN is a recognition by the state that the car is what it claims to be and is, therefore, identical to a car with original VIN.
One could also argue a reissued VIN
technically equates the car for legal purposes, but does
not bring the car up to equal value in the free market--the side-by-side comparison--as we both agreed.
Does the insurance company care? Who knows. Should you disclose? You decide. Is it fraud if you don't? Technically, no. Would you feel guilty getting the insurance company to agree to a value that probably wouldn't be met in the open market? Doubtful
