Skip Ribbon Commands
Skip to main content
OTHER PAGE

Insuring Autos on a Stated Amount Basis

Question: I am in a debate with an underwriter concerning an antique auto. We have the stated amount endorsement (PP 03 08) on the policy and the insured has an appraisal supporting this stated amount. The endorsement states that the company will pay the lesser of stated amount, ACV, or cost to repair. Our debate is this: Is the appraised amount the same as ACV? If not, what is the point of the endorsement?

Big ‘I” members must be logged in to view all the content on this page.
 

image 
​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

Follow Us!

Empowering Trusted Choice®
Independent Insurance Agents.​