A little more premium. A lot less surprise at claim time.
Set the numbers, pick a date of loss, and compare an Agreed Value policy against a stated value policy across a total loss, a partial loss, and annual premium.
Read it from either seat.
On a stated value policy, a total loss usually pays the lesser of the stated amount or actual cash value, and if the schedule was understated, a proportional penalty cuts the check further. Agreed Value removes that guesswork: the payout follows a known, scheduled value set the day you bind, with no coinsurance penalty and no adjuster deciding what the unit was worth. Both sides still depreciate over the policy term, so this is not about paying 100% of the number. It is about predictability, a settled figure, and one less surprise that lands on your desk. On financed equipment, that predictability can also reduce the gap between the loan balance and the payout.
After a total loss, an adjuster decides what your truck was worth on a stated value policy, and if you insured it for less than its actual cash value, the payout is reduced by that same proportion. Agreed Value settles how the number is calculated when the policy is written. It still follows a depreciation schedule over the year, so it is not a full payout of the stated figure, but there is no proportion penalty for under-insuring and no adjuster deciding the value after the fact. On a financed truck, knowing how the payout is determined up front helps you avoid owing more than the check covers.
See what each policy pays.
Adjust the values or the date of loss. The comparison recalculates the total-loss payout, the partial-loss payout, and the annual premium for each policy, side by side.
This example is for illustration purposes only. Actual claim outcomes are determined at the time of loss based on policy language, vehicle condition, and market value. Stated value policies in particular may settle for less than the stated amount depending on actual cash value at the time of loss.
Stop insuring a moving target.
Lock the value with Agreed Value APD. Chris leads our transportation program and can walk you through it, class by class.
Write the number once. Settle it once.
Agreed Value APD is part of AnchorLine's transportation program, powered by Convene. Let's talk about putting it in front of your insureds.
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