Agreed Value Coverage
Agreed value coverage is a policy feature designed specifically for classic and collector cars, where you and OpenRoad agree on your car's value upfront at the time the policy is written. Unlike standard auto insurance, which factors in depreciation and pays out only what your car is worth at the time of a loss, agreed value coverage ensures you'll receive the full predetermined amount in the event of a total loss, protecting your investment fully without any unpleasant surprises if you have a claim.
That matters more than ever in today's collector market. Values move, sometimes fast. A well-documented muscle car or a clean resto mod can appreciate significantly in a matter of months. With agreed value, you're not leaving it up to a claims adjuster on the worst day of your ownership. You already know the number. It's in writing.
If your car's value changes, you can update your agreed value with us anytime — not just at renewal. Your coverage can grow with your car's value. Has the market shifted? Did you complete that frame-off restoration? Tell us. We'll adjust your agreed value to reflect the car you actually have not a depreciated version of it.
The result is real peace of mind. Not the marketing-brochure kind. The kind where you drive to a show two states away and genuinely don't spend the whole trip worried about what happens if something goes wrong. Because you already handled it.
Example
When you insure your 1966 Mustang with an OpenRoad Agreed Value Policy, the value of your vehicle is locked in from day one. So if your car is ever deemed a total loss, you'll receive exactly what you and OpenRoad agreed it was worth, not what a similar car might be selling for on the market that day. If you insured your Mustang for $45,000, you get $45,000. It's that simple.
Serious Coverage.
Simple Process.
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