Without actually seeing your policy paperwork and not having participated in the actual purchase of the policy it is difficult to know. The bottom line is that the insured amount is the maximum they will cover on a covered claim. If the adjuster decides it is actually worth less, than the lesser amount will be paid out.
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Originally Posted by mexliving
i am a bit confused... my insurance policy is through mapfre... and so was the students that rolled their honda suv.
on the paperwork, there was a space that had the value placed at 9,000 dollars.
on my insurance i told the clerk my value was 25,000 dollars.... this is separtate from the other amounts listed on the coverages from the insurance company.
so with the students, the adjuster came out to the tow yard and after checking the insurance coverage and car/truck value listed at 9,000 u.s. he told them they would get by mail -9% of the 9,000 dollars...
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