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Insurance question
Maybe a dumb question but I’m really good at those.
Lets say for conversation sake that you have an “agreed value policy” with your insurance company for $300,000.00 comprehensive and collusion.
You have an accident that’s your fault and the repair is $415,000.00. I understand that your insurance company will give you a check for $300,000.00 because the $415,000.00 is $115,000.00 over agreed value!
But what if its the other guys fault. Does the other guys insurance also give you the $300,000.00 because that’s the agreed value of your insurer? Or do they pay the $415,000.00 for the damage their insured caused?
Harry
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