Quote:
Originally Posted by tboneheller
Check with State Farm. I am paying less than $400/year for a stated value policy.
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Be careful!!! Under an Agreed Value policy, if there's a theft or a total loss, the company pays the Agreed Value.
But under a Stated Value policy, if there's a theft or a total loss, the company pays the Stated Value OR the Actual Cash Value, WHICHEVER IS LESS. And the Actual Cash Value is determined by the company, not by you.