What is agreed value coverage?

**gonefishin** · 11-30-2010, 10:22 AM

**Dan Williams** · 05-24-2011, 03:43 AM

what do you think it is?

**stevenricherd** · 08-04-2011, 10:15 PM

Agreed value insurance is a accessory type of insurance agreement between the insurer and insured person related to the property he owns.In case of any disaster or damage to the property the whole value of property is returns to the insured person.

**MarineInsurance** · 01-24-2012, 04:52 AM

The agreed value is the value at which the insured and insurance company agree the vessel is worth. For example, if you want you boat valued at $50,000 and a current Condition & Valuation survey shows the Fair Market Value of the boat is $60,000, the insurance company may suggest that you insure it at $55,000. If you both agree on the $55,000 then you have your agreed value.