Insurance companies have the legal right to terminate insurance coverage when the monthly premium is not paid as agreed.
Replacement cost coverage is an insurance policy that pays for the cost of replacing damaged or destroyed property with new items of similar kind and quality. This coverage does not take depreciation into account. On the other hand, actual cash value coverage takes depreciation into consideration when determining the value of the damaged or destroyed property, resulting in a lower payout compared to replacement cost coverage.
what mathematicians agreed on an so that numercial expressions would have only one value?
The price for insurance on a classic car can vary widely depending on the type of car, company and coverage chosen. For example: 1968 Dodge Charger R/T stock ($46,000 agreed value policy), annual premium: $376 while 1970 MG B stock ($5,000 agreed value policy), annual premium: $112. This explains more: http://www.insure.com/car-insurance/vintage-autos.html.
Texas Statute Of Limitations: 2 YearsUninsured Motorist Coverage: YESDiminished Value For At Fault Party: NO
There is no age limit although the value of the car may not justify the cost of full coverage.
Pays out to beneficiary-just the value of coverage not cash value if sold.
It has been said that the happiest days in a boat owner's life are the day they purchase the boat and the day they sell the boat. Owning a boat can be fun, but it can also be a headache. Choosing the right insurance policy for your boat doesn't have to be. One important tip is to know whether your boat insurance will pay you the agreed value or the actual value. The agreed value policy will give you a set amount of money in case of a complete loss of the craft. Normally the agreed value is the purchase price of the boat. Actual value policies will normally give you the book value of the craft at the time of the loss.
The amount of personal property coverage you should get for your homeowners insurance depends on the value of your belongings. It's recommended to get enough coverage to replace all of your possessions in case of damage or theft. Consider making an inventory of your belongings and estimating their value to determine the appropriate coverage amount.
Considering how expensive it is to purchase a yacht, buying the right insurance is a necessity. The most important factor to consider is the total loss value settlement. With this in mind, choose between Agreed Value or Actual Cash Value. An Agreed Value is the limit stated on the policy when the yacht is deemed to be a total loss. The Cash Value option will pay the current market value of the vessel at the time of loss. The Agreed Value has a better payout and usually costs more. Determine what best suites you and check with you lender.
The cost varies depending on the coverage sought and the value of the items to be insured. It also depends upon the insurer, your loss history, location of the property, and whether you wish actual cash value or replacement value coverage.
Standard value is the general agreed upon value that always remains constant. It is used so figures will be consistent across the board.