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Agreed Value Coverage

Agreed Value Coverage

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Insuring your ride for what it’s really worth. Agreed value coverage in a collector car insurance policy is a specific type of coverage that allows the policyholder and the insurance company to agree upon a predetermined value for the insured vehicle. This agreed-upon value is typically based on the car's market worth, taking into account factors such as its rarity, condition, and historical significance.


Standard auto insurance policies often use a depreciated vehicle value to determine payouts in the event of a claim. OpenRoad's Agreed Value Coverage is different. It ensures that the policyholder will receive an agreed-upon value for their collector vehicle in the event of a covered total loss, such as from theft or an accident.

Common Questions About Agreed Value Coverage

How is my vehicle's value assessed? 

While many collectors have a pretty good idea of what their vehicles are worth, sometimes we all need a little guidance. We recommend consulting a pricing guide if you're unsure of your vehicle's value. Please visit our Vehicle Values page for some helpful resource suggestions.

Is an appraisal or inspection required?

The only situation where we might request an appraisal, inspection, or bill of sale is for extremely rare and/or very high-value vehicles. You'll be notified automatically during the online quoting process if your ride qualifies.