Coverages / Agreed value
On 0 of 10 default checklists
Agreed value
Pays a value agreed when the policy is written, rather than actual cash value — the usual choice for classic bikes and older, well-kept motorhomes.
- 1RV and trailer types 0
- 2Powersports types 0
- 3Questions to ask 2
- 4All lines 14
When it matters
It pays the value agreed when the policy started, with no argument about depreciation after a total loss.
Agreed value is the alternative to arguing about depreciation. Instead of the insurer working out what a vehicle was worth on the day it was destroyed, the owner and insurer settle the figure in advance, and that is what a total loss pays. It suits vehicles whose market value is not well captured by price guides: classic motorcycles, restored vintage trailers, and older motorhomes kept in unusually good condition.
Expect the insurer to want evidence for the figure — photographs, an appraisal, receipts for restoration work — and to review it at renewal. Agreed value is not on any vehicle's default checklist here because it is a choice about valuation rather than a type of risk; it replaces actual cash value for the vehicles where that matters.
Agreed value also changes how partial claims feel. It governs what a total loss pays, but repairs below that point are still handled as repairs, so a restored bike with original parts may need a policy that also addresses how hard-to-find parts are valued and sourced.
The common mistake is setting the figure once and never revisiting it. Restoration work, rising collector prices or a bike's falling value can all leave the agreed figure out of step with the market.
Ask before you buy
- How is the value set and how often is it reviewed?
- Is an appraisal required?
Vehicles it is on
Agreed value is not on any vehicle's default checklist: it is added by how you use the vehicle. The checklist tool adds it when the box that applies is ticked.
Other lines
Liability (bodily injury and property damage) · Collision · Comprehensive · Uninsured / underinsured motorist · Medical payments / PIP · Custom parts and equipment · Total loss replacement · Full-timer liability · Vacation (campsite) liability · Personal effects · Emergency expense · Roadside assistance and towing · Storage / lay-up option
Written from standard RV and motorcycle policy forms; your policy's wording governs. Checked 2026-10-23. Methodology.