Today I learned that a "stated value" is to be avoided, as can actually be
quite limiting. If i had a state value in my policy of $6000, they will pay
UP to 6000. Not a penny more. While if I had no stated value and was able to
prove that a vehicle in running condition similar to mine costs $12000, then
that's more similar to the value they will pay out.
That was quite suprising to me, as I thought stated value meant "it's
damaged, here's the money we agreed to pay you"...... but subtly, it still
is.

I've decided to get a few independent appraisals and list it for sale. If I
have it listed for sale at a value similar to what it's appraised at and
have record of this, even if it doesnt sell, i can later say "look, i was
trying to sell it, and this is what i was selling it for..." which i'm told
is yet another good card to have in your portfolio. Plenty of pictures as
well.

Thanks to all those who responded!

-Craig
'85GL turned WESTY
BOSTIG in the back

On Wed, Dec 30, 2009 at 2:30 PM, Jim Lieb <jlieberie@gmail.com> wrote:

> Craig,
>
> I have been insured with Erie for about 36 years. My agent is a good friend
> and I just had a regular policy on my MV when it caught fire. I ended up
> getting $8600 from them and they were easy to deal with, but I was
> concerned
> when I later paid +$10k for my new van. My agent, Steve told me to get the
> Van appraised and said I could use the appraisal as a basis for settlement
> if anything happened to my new camper.
>
> Jim
>
>
>
>
> --
> Jim in NW Pa
> Member: PVC Pittsburgh Vanagon Club
> 1987 Westy "MobyD" the Great White Westfalia
> Member: TLCA
> 1982 FJ40
> 2007 FJ Cruiser
>