Agreed Value is a method of insuring property where you and the insurance company agree on its value before a loss occurs.
Unlike Actual Cash Value coverage, depreciation is not deducted if a covered total loss occurs. Instead, the agreed amount is paid according to the policy terms.
A classic 1969 Mustang is insured for an agreed value of $85,000.
If the vehicle is declared a covered total loss, the policy pays the agreed amount rather than a depreciated value.
Our experienced advisors can help you understand your policy and make sure you have the right protection.
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