Agreed Value vs. Stated Value Auto Insurance

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Diminished Value: The Secret the Auto Insurance Industry Doesn’t Want You to Know Diminished Value: The Secret the Auto Insurance Industry Doesn’t Want You to Know

We’re all familiar with Depreciation, right? It’s the gradual loss of value over a given time. So what’s Diminished Value? Let’s look at this scenario. Imagine that you are stationary at a stop light or sign and suddenly a negligent driver rear-ends your vehicle. Your vehicle has just suffered Diminished Value (also known as inherent diminished value or diminution of value).

Agreed Value vs. Stated Value Auto Insurance  Agreed Value vs. Stated Value Auto Insurance

Let’s look at the two different types of auto insurance: Stated Value and Agreed Value. “Stated Value” is the insurance most of us have on our daily drivers which are depreciating

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Agreed Value vs. Stated Value Auto Insurance