Value
Do Auto Insurance Premiums Reduce When The Car Value Depreciates?
We bought our car 5 years ago in Virginia when it was new and just finished paying off the loan. We paid $23,000. Our Auto insurance premium was based on that value. After 5 years, it is now valued at $10,000 but my insurance agent (Travelers) says the premium does not change just because of depreciation. Is this true?
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Do Insurance Companies Insure A Boat For Its Value Or Insure It For What You Paid For It?
Read the fine print, it can be either way and the rates will vary
But usually insurance companies insure it for book value less depreciation!
Read the fine print, ask the agent.
A friend of mine had good homeowners insurance. When he tools got stolen they would either cut him a check at a fixed price OR he could go out on his own nickel buy ALL the tools and they would reimburse him.
He, of course, went out and bought the very best this time!
Replacement value for the size and type of boat is probably what you want.
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When Buying Rv Insurance,what Is Better.replacement Value Or Agreed Value?
If depends on the company – if they state replacement value is where you get a new one when something happens to the old one, then that’s better.
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When You Get Boat Insurance What Value Does Insurance Company Insure Up To.?
if your boat is worth 20000 dollars and insurance company ask what is trailor worth along with boat and you say 35000 dollars. I am paying on that premium and someone told me if boat is stolen the insurance company want pay on what i am paying on. is this true and I am paying for more insurance than I should be . Thanks for answers.
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