Quote:
Originally Posted by JLMounce
I have a stated value policy through State Farm. No mileage or usage limits. Road side, no deductible glass etc. it’s functionally like my modern vehicle policies, just with a stated value.
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Stated value only determines how much your premium is. It has nothing to do with what you will be paid in the event of a claim.
"What is Stated Value?
Stated Value is coverage that reflects an amount that is “stated” at the onset of the policy. You tell your insurer what your car is worth (with proper documentation) and it is insured for that amount.
The caveat here, however, is that the insurance company can choose to pay you either the Stated Value or the Actual Cash Value, whichever is less."
If you want to have a State Farm adjuster determine the value of your car, after an accident, stay with State Farm.
My personal experience with State Farm adjusters has not been good. They try to do everything but pay a claim properly.