Insurance Appraisals

Protect Your Classic or Custom Vehicle With the Right Insurance

If you own a classic, collectible, or custom car, it’s essential to insure it properly. These vehicles don’t follow the typical depreciation curve like daily drivers—in fact, many appreciate in value over time. But not all insurance policies are designed to reflect that, and it's up to you to make sure your car is covered. 

Understanding the difference between agreed value insurance and stated value insurance can help you avoid major financial loss in the event of an accident, theft, or total loss, and make and educated decision on the policy that is best for you. 

What Is Agreed Value Insurance?

Agreed value insurance is the gold standard for insuring collectible, classic, and custom vehicles. With this type of policy, you and your insurance provider agree upfront on the exact value of your vehicle based on documentation and a certified professional appraisal. If your car is stolen or totaled, that’s the amount you’ll receive—no surprises, no depreciation.

To secure agreed value coverage, most insurance companies require a certified vehicle appraisal. That’s where Auto Appraisal Network comes in. Our detailed reports provide the proof insurers need to offer full-value protection, also known as the replacement value. 

What Is Stated Value Insurance?

Stated value insurance may sound similar, but it often comes with a catch. While you may declare your vehicle's value on the policy, most stated value policies include fine print that gives the insurer the option to pay either the stated value or the actual cash value (ACV)—whichever is lower.

This means if your car is totaled and the insurer believes the ACV is less than the stated value, you could receive a payout far below what your vehicle is actually worth—especially if it’s a custom build or appreciating classic.

Why Agreed Value Coverage Matters

Here’s why agreed value coverage is the clear choice for specialty vehicles:

✅ Guaranteed payout amount if your vehicle is totaled or stolen

✅ No depreciation or surprise reductions

✅ Covers true replacement cost, including labor, donor parts, and customizations

✅ Backed by a professional appraisal—no assumptions or guesswork

Whether it’s a show car, a street rod, or a one-of-a-kind custom build, the replacement cost can far exceed standard market value. Agreed value coverage ensures that your investment is fully protected, accounting for every detail and dollar you've put into the vehicle.

Don’t Risk Being Underinsured

We’ve seen far too many vehicle owners confused by the wording in their insurance policies—only to discover after a claim that they’re drastically underinsured. If you own a custom or collectible vehicle, it’s time to double-check your policy and ensure you have the right coverage in place. You don’t want to find this out after a car wreck! 

Certified Appraisals for Agreed Value Insurance

At Auto Appraisal Network, our certified appraisals are trusted and accepted by insurance providers nationwide. We fully document:

• Modifications and upgrades
• Parts and labor costs
• Market value and comparable vehicles
• Photographic proof of condition

Having an Auto Appraisal Network report on file not only helps you secure the right coverage—it can be invaluable during a claim, especially when negotiating with the at-fault party’s insurance.

Quick Comparison:

Agreed Value Insurance
✔ Designed for classic, collector, and custom vehicles
✔ Payout is based on a pre-agreed value
✔ Requires an appraisal
✔ Best for appreciating or highly modified vehicles

Stated Value Insurance
✘ Often used for daily drivers
✘ Payout may be reduced to actual cash value
✘ Does not guarantee the amount stated on the policy

Get the Right Coverage. Get It Appraised.

You’ve invested tens of thousands of dollars in your car. Having an insurance policy on it that covers what it would cost to replace it as it sits today just makes sense. Before disaster strikes, make sure you’re covered. Contact Auto Appraisal Network today to get a certified appraisal and protect your vehicle with confidence.