Im confused about my physical damage protection options. What is the difference between actual cash value, agreed value and total loss replacement?
Total Loss Replacement is available on new RVs purchased in the past 13 months that are less than or equal to 2 model years old. If your RV is irrepairable and qualifies for total loss replacement, your coverage will replace it with a new RV or pay you the initial purchase price depending on the age of the vehicle. Actual Cash Value (also called market value) is the actual cash value of the RV at the time of the loss. Agreed Value is mandatory on vintage, limited or vehicles not available through vehicle look-up. Under this option, the total loss payout is equal to the agreed value of the RV based upon your policy. Proof of value is required and can be satisfied by an appraisal for RVs more than 2 years old.
