[Bill Wells]

a stated value policy can also be penciled by an insurance company in case of a catastrophic loss, ie, total. you may or may not get the total stated value. an AGREED value policy however gives you maximum protection, as it cannot be penciled in a 'total' . in all cases that assumes the claim / event was not in violation of any other policy restrictions ( ie, no racing, not to work etc re any exclusions a policy might have) . same violations of policy would also release them from paying out on an actual cash value (regular policy) or stated value policy . however, some states do not allow an agreed value policy to be written . bill