You guys with "stated value" policies really need to look further into your policies. They are typically written as Actual Cash Value up to the "stated amount". This means if you're paying a premium for $10000 coverage and suffer a total loss, they will pay what THEY determine is the ACV, not to exceed $10000. Likewise, if it's insured for 10K and the market at the time of the total loss is 15K, you're going to get 10K. Proving the ACV is different than their research is difficult, given the disparity in vehicle conditions with such a small sampling of remaining yr/make/model of most of our cars. Most insurers do not consider older cars to be worth much, aside from obvious classics or historically significant vehicles, which usually have a well-proven record of value.
Agreed value means you and the insurer agree that the value is $XXXX, and in the event of a loss, they will pay up to that amount for damages. In the event of a total loss, the policy pays the agreed value.
Big difference...know what you're buying.
