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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
    #1
    Lightning_Lad

    Lightning_Lad [OP] New Member

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    Orange CA
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    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
    #2
    T-Guy69

    T-Guy69 New Member

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    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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