Thanks lockedlex.
My T4R is probably worth in the $9-12k range and I know I would not get that from my Ins. company using Stated Value so you've given me a good idea to ask about it.
Does this higher value raise the amount at which it would be totaled? In your case, if it can be repaired for 7 large, then they would do that?
Eddie
Quote:
Originally Posted by lockedlex
Correct, BUT it also helps in accidents. For instance, if I don't have declared value and they value my truck at 5... if it gets into an accident and needs 4k in work, they will just cut me a check for 5k, mark the car as a Salvage and nothing gets repaired (they don't repair when the repair costs are more than 60% of the cars value). And good luck for me to replace this for 5k.
However, if I do a declared value of 16.5, then they MUST repair it, even if it's like 10k in damages. So that way, it doesn't get a salvage tag to it and I still have a working, modified truck.
|
