Originally Posted by Sandi & Bob
I received a strange request from my insurance company...
this is really an INSURANCE thread/post, not a/s history... ( mod. note: just relocated it to the proper category )
and when a company want's the msrp for a 20 year old unit, u are likely buying the WRONG POLICY or coverage.
there are a many threads on this issue in the INSURANCE and PRICE sub forums...
the msrp for 20 years back is available, but only the original BUYER knows what was actually PAID for the unit.
so decide if you want 'agreed value' insurance or coverage for the current used/blue book type pricing.
IF there is a loan involved make sure the coverage COVERS the loan value.
the msrp will ONLY help them determine a current DEPRECIATED price, while charging YOU a premium based on a 20 year old figure.
IF you want coverage for the loan OR improvements OR what YOU perceive the value, get AGREED VALUE coverage.