If your car were stolen today, would you know how much you are entitled to recover under your auto insurance policy?

Like most people, you probably answered "no". That’s because most insurance policies base a claim settlement on your auto’s current market value minus depreciation and deductible. This makes it difficult to predict what your settlement will be if you have a total loss.

Agreed Value Coverage*

With Agreed Value coverage from Chubb, you will know how much you are entitled to recover. That’s because you set the value of your automobile, based on what you paid for it and its condition.

Once we agree to this amount, it becomes your coverage limit for the policy term. In the event of a total loss, it is your settlement.

In effect, we work with you to “settle a total loss before it occurs.” And with Agreed Value coverage, there is no deductible in the event of a total loss.

If you lease or finance your automobile, you can choose an agreed Value limit that takes into account your monetary obligation on your financial contract.

Many people don’t realize that their vehicle often depreciates faster than their financial obligation. Agreed Value will help protect you against this coverage gap.

*Agreed Value coverage description courtesy of the Chubb Group of Insurance Companies