We have cover this before on other blog postings, but its such an important issue, and quite a few people aren't aware of it, that I thought I should bring it up specifically.
Stated and Agreed values are VERY different types of policies.
With an Agreed value, if you suffer a loss, you and the insurer have already agreed that your car is worth X, and there's no debating.
A Stated value policy just means -you- think its with X, and they use it in part to set the premium. If you suffer a loss, THEN the insurer starts to think about what THEY believe your car to be worth. I can guarantee you won't agree.
Protect your investment