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Insurance Question. Agreed value vs Market value.

Discussion in 'General Tundra Discussion' started by Lightning_Lad, Feb 17, 2020.

  1. Feb 17, 2020 at 7:49 AM

    Lightning_Lad [OP] New Member

    Dec 23, 2018
    First Name:
    Orange CA
    2017 Silver Sky Platinum Pro
    Line x Bed liner Trifold Tonneau cover TRD PRO Dual exhaust TRD PRO sway bar TRD PRO air intake TRD PRO suspension TRD PRO LED 2019 Headlight conversion TRD 2020 Wireless charging tray TRD shift knob TRD PRO Grille TRD red anodized dust caps (+25 hp per wheel) Matt black mirror caps and door handles Tesla style Headunit KTJO 4x4 tail gate pop n lock upgrade Driver side grab handle Viper Remote start Viper alarm system 18” Method NV’s 33.5” Toyo R/T ESP Long box underseat storage 3M ceramic tint

    So... insurance wise I’m curious if anyone here with a built Tundra does agreed value?
    Is it worth it? Given our trucks strong resale values ?
  2. Feb 18, 2020 at 2:38 AM

    T-Guy69 New Member

    Nov 21, 2019
    Long Island
    Black 2020 Tundra SR5
    It is a pain in the neck, at least is was when I had to do it with my Corolla XRS when it was totaled. They did their search for "fair market value" and offered me $3,000. Of course, even thought I told them an XRS is rare and more valuable. Long story short, it took about a month to agree. If you get the truck insured for agreed value, then you will pay more.

    Now I assume your asking...so I would ask how they determine fair market and realize it will be a "discussion". Then due to the high resale, take the two number vs the premium difference and see if it make sense.

    I did agreed value on my boat. It is a 2002 and they had the market value as next to nothing, like $6000. Yet replacement cost is easily $20,000 +

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