Maverick value increase, how does insurance handle that?

[r8drskullz]

I’ve seen many Mavericks done at dealers with prices over $35K. Awhile back a Maverick owner s Maverick was totaled and luckily for him they honored the higher price for payoff,
Any food for thought on this?

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[zach57x]

It’s their job to replace it at fair market value. For many years cars just depreciated normally and you’d get a check for 1/3-1/4 for what you bought it for. Now the tides have turned and we’re getting more than what we bought it for. All apart of the Insurance game

 

[r8drskullz]

It’s their job to replace it at fair market value. For many years cars just depreciated normally and you’d get a check for 1/3-1/4 for what you bought it for. Now the tides have turned and we’re getting more than what we bought it for. All apart of the Insurance game

Thanks!!!

 

[Montana]

I have USAA and opt for the extra 20% option.

 

[Maverick#2]

If the value of the car goes up (we have a "replacement" policy), the cost of your policy may go up. We had this happen for our Tesla the first year after it was initially added. The collision part went up $500 from the previous year since the cost to repair or replace the car had increased significantly!

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