Quote:
Originally Posted by kevins2
As was said in posts 2 and 7, the declared value goes up each year.
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So, just posing a what-if here. Suppose you bought a genuine, for real, authentic, Shelby continuation kit car and after Shelby died, you believed the value doubled (as some seem to believe even though he top bid for one at Anaheim mecum was only $95K). Now it gets stolen, and you originally insured it for the price you paid for it (a few years ago) plus the 5% increase every year. Your increase hasn't kept pace with the sudden appreciation of this car. So you would be cheated out of this appreciation because you insisted on an agreed value policy.
On my policy, with State Farm, I would get the current appreciated value of the car no matter how high it went (as long as it could be verified by actual sales figures). You, with the agreed value plus 5% annually, policies would get less.
I think I'll stay where I am.