Stated Value Auto Insurance New Hampshire

What’s stated Value Car Insurance and Who Should Purchase It?

Stated value auto insurance is a usually a misinterpreted insurance service. It has a very important purpose, but it is usually misused. Stated Value Auto Insurance New Hampshire is mostly used on classic vehicles insured through a lot of the well-known insurance carriers.

Stated Value Classic Car Valuation

The valuation of a car is simply about a total loss. How much is your insurance firm willing to pay you for your car in case such a claim arises? A lot of people mix up stated value with the agreed value.

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Stated value decides how the insurance firm rates your car, and it does not always decide how much the insurance firm is willing to pay you in a total loss. Insurance carriers shoulder the coverage so that they can pay the actual cash value or the stated value amount whichever is smaller.

When should you purchase the stated value insurance?

Our stated value is actually available to assist people who own a car which is estimated to be much higher than what they are ensuring it for. Ensuring an estimate of $15,000 the automobile your uncle passed down to you might be costly. It is possible for you to list it stated value at $4,000 so that you can afford protection in issues of slight damages. $4,000 is not a reasonable value comparing to the fact that you paid $15,000. Your claims agent would still compare and contrast the stated value against the real cost to ascertain how much you would get in a complete loss situation.

Advantages and Disadvantages of Stated Value Car Insurance


  • It is a much lower cost vehicle insurance coverage.
  • Stated value car insurance can be included in your daily car insurance policy.


  • It does not encompass all of the vehicle’s value.
  • It can easily be mixed up with other forms of coverage such as agreed Value making you frustrated at the time of claiming.

Stated value insurance is for bringing down your cost not boosting your coverage. Have this at the back of your mind when issues of ensuring your car arise. Talk to our experienced insurance personnel to assist you in knowing what particular coverage is best for you.

What If You Have a Claim and Thought You Had a Different Coverage

Coverage needs to be correct at the time the vehicle is added. After an accident occurs is not the time to be figuring out what coverage you have purchased. Thinking you have one coverage when in fact you have purchased a lesser coverage is a tough situation to stomach. The loss can be huge, and it is frustrating when you did not understand exactly what you were buying. Speak with your agent and discuss your options. Most likely, you are stuck with the selected coverage unless you can prove the agent made a mistake.

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