Quote:
Originally Posted by racerman88
they might be referring to what amount you sold it for. THat is what I was asked when I sold my bike. You can insure a bike or scooter for any declared value, but it will affect the cost of insurance.
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the scooter was declared as a gift for cousin so no tax. the autoplan broker ask declared value just for the insurance purpose, if it does affect the cost of insurance does that mean they are going to pay the declared value when it got stolen/total lost? if they are not but paying market instead should I just told ICBC to declared to $500 to save insurance?
When I buy my new scooter, even the dealership declared a higer value than I paid so I was just thinking doing the same when selling my scooter.