Insurance

Agreed vs. Stated Value Insurance in San Diego, CA

Living in America’s Finest City means enjoying the open road along the coast, the desert, or up into the mountains. But not every car on those San Diego streets should be insured the same way. While your daily commuter may be losing value every day, your restored classic, collectible, or custom-built car could actually be appreciating in value. That’s why it’s so important to choose the right type of insurance coverage for your vehicle.

Why Agreed Value Insurance Matters for San Diego Car Owners

Classic, collectible, and custom cars require a special approach to insurance. Unlike standard cars, their value doesn’t always drop—it often goes up. With an Agreed Value insurance policy, you and your insurer decide on a certified, documented value for your vehicle. This value reflects your car’s make, model, year, custom work, and any restoration hours invested.

If your vehicle is ever stolen or declared a total loss, you’ll receive the agreed-upon amount from your policy. This ensures that your investment is fully protected, without the depreciation or market fluctuations that affect standard auto policies.

The Problem With Stated Value Insurance in California

Most major auto insurance companies in San Diego offer Stated Value coverage, which can be misleading. While it appears your car is insured for the amount you list, the fine print usually allows the company to pay either the stated value or the actual cash value—whichever is lower. For custom or show cars, that can mean a payout that doesn’t even come close to covering your loss.

This is especially problematic in California, where car culture thrives, and owners spend thousands of dollars on restoration, customization, and modifications. A “stated value” policy often overlooks those costs entirely.

Why Certified Appraisals Make the Difference

For Agreed Value insurance policies, an appraisal is required—and that’s actually a good thing. An appraisal from Auto Appraisal Network of San Diego documents every detail of your car, including upgrades, donor car costs, labor hours, and custom modifications. This appraisal becomes proof of value you can present to your insurance company and even in the event of a claim with an at-fault party.

Our certified appraisals take the guesswork out of the process. You’ll know exactly what your car is worth, and you’ll have documentation that ensures you get every dollar you deserve if the worst happens.

Agreed vs. Stated Value—Which Do You Need?

• Agreed Value Insurance → Best for classics, collectibles, customs, street rods, and show cars. Protects your vehicle for its true, documented worth.

• Stated Value Insurance → Typically used for daily drivers, where depreciation makes cash value coverage acceptable.

Protect Your Investment in San Diego

Whether you’re cruising through La Jolla, showcasing your classic at a San Diego car show, or simply enjoying your weekend ride, make sure your insurance coverage reflects your car’s true value.

Call Auto Appraisal Network of San Diego today to schedule your certified appraisal and secure the peace of mind that comes with knowing your car is properly insured.