A customer asks about 'agreed value' coverage for a collectible vehicle. Which statement is correct about agreed value policies?
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A
The insurer pays ACV at the time of loss, regardless of the agreed amount at policy inception
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B
The insurer and insured agree on the vehicle's value upfront and that amount is paid in full at total loss without depreciation
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C
The agreed value is a cap; the insurer may still pay less based on market conditions
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D
Agreed value applies only to partial losses, not total losses