Quote:
Originally Posted by Pete'sMH
Wouldn’t that depend on whether you had optional “full replacement” coverage? Perhaps you had that level of coverage and she simply deleted the option. When I was offered the coverage I questioned the agent about exactly what it means and was assured that it would cover the amount I paid for the coach not what it’s current market value might be. I wonder if I have what I think I have!
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Your policy might say something like "Stated Value", or "Agreed Value".
...This varies from the "Actual Cash Value" policies that usually cover private passenger autos.
ACV policies settle a claim based upon the current market value of your car.
Stated or Agreed policies settle based upon an amount that you are deciding to cover your RV for.