Ogun State Polytechnic Saapade

Stated value and agreed value. “stated value” is the insurance most of us have on our daily drivers which are depreciating. A stated value appraisal defines the value of a vehicle as agreed upon by both the vehicle owner and the insurance company.

Jul 25, 2025stated value car insurance is most often used for classic cars, and you’ll need to provide documentation proving value. With a stated value policy, you and your insurance provider agree on a specific value for your classic car, which will be the amount you'll receive if your vehicle is damaged or stolen. Get a quote from state farm today.